LoftyReviews of lofty.ai

A scam + do not respect applicable laws. Stay away from this platform.

I'm struggling to even begin this review. Perhaps I should use AI to write it, similar to how Lofty AI handles their help tickets. Lofty AI's homepage boasts, "Buy and sell real estate as effortlessly as trading a share of TSLA." This is a blatant misrepresentation. I've traded stocks and invested in other real estate, and this platform is nowhere near as simple as buying a share of Tesla. It's incredibly deceptive. As other reviewers have noted, withdrawing funds is a major hurdle. I've personally experienced this: I've contacted support, yet my money remains inaccessible. I would strongly recommend exploring alternative platforms. Initially, I was optimistic about Lofty AI and its concept. However, my experience has steadily declined over time. I anticipate a response from Lofty to this review—ironically, this response will likely be faster than their actual chat support. When I first invested, I had high hopes and believed this would be a valuable way to diversify my portfolio. Now, I feel compelled to issue a strong buyer beware.

Great idea for the platform owners, they probably make great money. The investors like me however, not so much. They make it easy to invest and buy property tokens. However, selling those tokens for even close to what you paid is a challenge. I purchased most tokens for $50, I sold my last batch for $21, for a whopping 58% loss. All properties I invested in are very poorly run and mostly post losses, not profits. Then pulling your money out of the platform was another major challenge. I contacted support for months and they pointed me to a complicated process that did not work. Finally, a random user on the platform helped me move my money out through crypto wallets. I truly regret ever investing in this platform.

Fantastic conversation with the co-founder Matt. I see future business. Extremely professional. Thank you

Platform is incredible. Makes buying and selling fractional real estate as easy as buying a share of stock. Have absolutely no complaints, constantly adding new features. Some of the upcoming plans are amazing. Support is good, only problems I have had thus far was a UI display error. Support promptly fixed the issue. If you have ever wanted to invest on real estate, but could not risk the amount needed this is for you.

Incredible platform and is getting better with every upgrade. All the new properties are cashflowing.

I'm a co-owner seller who listed on Lofty to tap into my unrealized equity in order to reinvest into my other properties for future listing, as well as repay capital contributions to my existing equity partners. Lofty allowed me to successfully pull out just the right amount of equity I needed in an extremely short amount of time (I'm talking on the order of 6 figures in a matter of only 4 days since publishing). Compare this to listing on the MLS with a hopefully-competent listing agent who knows what they're doing, paying exorbitant Listing + Buying Agent/Broker Fees along the way (NAR 👀), and waiting for weeks or months on end just to find a single buyer who may or may not even qualify for a (more expensive) loan to buy my property outright, and sometimes back out of closing at the last minute while demanding the return of their Earnest Money Deposit. Lofty allows me to list my property AND retain a portion of my equity that I don't need to sell, AND I can even keep my original 4.75% 30-year fixed loan! I can then continue paying my mortgage as I have been, which allows me to essentially use a cheap loan I got years ago to buy back into the escrowed equity of my property over a longer period of time. Meanwhile, the equity I was able to unlock could be used to pay down more expensive debts, repay my partners with interest, and/or reinvest into other properties! On the flip side, as an investor-buyer of real estate myself, this allows me to diversify my portfolio without adding to my headaches. I can buy in/out of my positions or properties pretty much any time I want, now with the option of instant fulfillment of market orders for dozens of properties with liquidity pools funded. They take a reasonable 2.5% of every order, which is the way realtors should've been doing it all along, not the status quo of putting the entire burden of transaction fees and closing costs on the seller. Lofty breaks all status quos and really makes real estate investing as easy as shopping on eBay. As far as the team itself goes, Max and Jerry are super awesome and dedicated folks, and they're super responsive. I don't know if they even sleep, as I myself am up during irregular hours of the day. Once I emailed around 3 AM about a listing error I noticed, thinking a text would be too intrusive. Max replied and corrected it immediately. It was a minor error that could've waited until morning to be honest. A larger, more serious technical error caused a failure of the deployment of my property's Automated Market Maker Liquidity Pool an hour into the launch. Because it was an extremely unfortunate software bug that happened on their platform that has since been resolved, over US$20k of user funds got trapped and locked away and essentially burned. Lofty made me and all the other affected users whole by reimbursing our funds out of their own pocket. I can tell, because the old/failed smart contract still contains those now-inaccessible funds. This is a company I can trust, and I hope the reader of this review ignores all the noise and does so as well. Lofty is exactly the startup I would quit my job to build if it didn't already exist! Jerry and Max are a very competent and integrous team to be at the helm as captains of the ship. I do not work for Lofty, and because they built a robust platform over the past 4+ years, I don't have to!

I've been using Lofty about 8 months and have had a great experience, that's not to say there haven't been some growing pains but every question I've had was answered personally and solved within a day or two. No just telling me to look at the FAQ, I get real answers. The returns are ok to great if you do your homework and research. It's investing so it comes with risk, if you don't realize that then you shouldn't be investing... Great customer support especially when things get confusing, I'm new to crypto so I ask a lot of questions but they are always happy to help. I'd love to see this company grow long term and grow my investments with it!