By Frank Rohde • November 22, 2024
What are "bricks"?
This article explains the concept of "bricks" or fractional ownership shares and how they work.
We talk a lot about the concept of buying your home "brick by brick". The video below explains the core concepts behind Ownify's fractional ownership structure.
Here's a more detailed walkthrough with a real-life example of one of our Ownis:
- The title to each home is held in its own Limited Liability Company (LLC)
- Each LLC issues 10,000 shares
- "Bricks" are shares in the LLC
- Each brick is equivalent to 0.01% of the value of the home held by the LLC
- Home values are established each month based on independent third party valuation services
- As an Owni, you're buying bricks every month at market value and renting the bricks you haven't bought