GROUNDFLOOR, a real estate investment platform, has announced The Stairs app that is described as combining the traditional savings and investing, dubbed “savesting.” The app is currently available on the Apple App Store as well as Google Play.
GROUNDFLOOR states that by using the app you may earn 4-6% annualized interest easily topping most bank savings accounts.
Brian Dally, GROUNDFLOOR CEO and co-founder, says that when they launched eight years ago they sought to create a service where individuals could invest directly in real estate without being forced into a fund:
“Now, with the launch of the Stairs app, we’re taking another big swing to reimagine how anyone can start saving and investing better, getting the advantages of investing in alternatives with the security of real estate-backed loans.”
GROUNDFLOOR reports that historically its investments have returned 10% in aggregate.
Launched in Beta, the Stairs App currently hosts 2700 investors who have dedicated $4.5 million to the app. Interest accrues daily and repays every five days. The funds in the Stairs App is backed by real estate assets – a pool of loans- but funds may be withdrawn at any time thus providing complete liquidity – a key feature. You can start with as little as $1. Investors must be aware that, unlike a bank savings account, the funds are not FDIC insured and thus incorporate a bit more risk.
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