Is this feasible?

Please share feedback, thoughts, criticism, and other ideas you might have because I feel this could potentially solve a large problem in world…

The issue of affordable housing

Now before I go on let me give you a quick bio, so you know where I’m coming from. I’m a 29-year-old real estate investor with two successful deals to my name. I currently own a cash flowing 4-unit apartment complex in the northern California region with aspirations & plans to own 1,000 apartment units in the next 15-20 years.

These 4 units have given me the much-needed experience to better understand the industry plus, there is nothing better than having 4 rent checks show up into your property each and every month. (If you are interested, I have documented all of my income reports at https://www.thestreets.co/income-reports

So, with that, here we go…

The Big Problem In Real Estate

As you can probably imagine, the #1 expense on investment properties (apartment, housing, etc.) is the interest that is paid back to the bank on the mortgage. Interest on a loan is a necessary cost to receive the full amount of capital to buy a property from the bank and is always considered when “running the numbers” on investment properties.

If you think about it, the banks have a monopoly on ALL properties in America and get to reap the rewards by “creating” money for themselves through interest. Not to mention PMI’s (Private Mortgage Insurance) and other expenses banks get to “create”.

Because of this “creation” of money, banks force investors to pay a lot more money for a property over the life of a loan. This extra cost is ALWAYS passed down to the tenants.

In summary, because there is a middle man, the banks, get to reap all of the rewards of creating money out of thin air while the tenants get stuck with the bill.

My Proposed Solution

Raise money through an ICO to start buying properties from the banks to eventually get these properties owned by the people on the blockchain. This will lower costs for all parties…Investors…and renters. After properties are purchased and put on the blockchain:

1. Investors can buy properties, if they pass certain guidelines.
2. The investors will pay interest back to the blockchain (not sure if that is correct) for taking on the risk of financing the loan.
3. Because the middle man, the banks, will be eliminated their “cut” of the pie can be eliminated which lowers the costs for the investors who can now buy properties cheaper and rent their properties at more affordable rates.

Would love to hear serious feedback, thoughts, criticism, and other ideas you might have because I feel this could solve the large problem of housing affordability. Looking forward to seeing what you all have to say and if anybody would want to help make this idea come to fruition.

-Ryan Fisher