nes.city

Inspiration

We want to solve the world's biggest core issue from creating a world of peace & prosperity for all: wealth inequality. It is the reason for poor education, health issues, crime, domestic abuse. And wealth inequality is almost always caused by lack of owning real estate.

What it does

It's a platform that is based on the idea of turning tenants into co-investors, where as they rent, they are building equity as well. In the end, the only commercially available concept in today's capitalistic society is it being a co-investing social contract tool, where both parties agree to upholding their end of the deal: tenant helps with preventative maintenance, property owner co-invests in the tenants first home they want to buy. This is a platform that builds upon trust already between tenant & property owner, & helps foster more communication toward goals & milestones in order to achieve a common goal: increase wealth together. It shows how much $ the tenant needs in order to get a mortgage to buy a certain home. For a property owner or investor, it shows other properties with the same requests from the tenant that might be worth more in case the co-investor wants to increase the amount they invest, or if they can find another co-investor/tenant to buy in. This includes duplexes. There is a screen for potential preventative maintenance to perform as well.

How we built it

Web app

Challenges we ran into

Finding the right co-founder. Also I initially wanted to turn any rental property into using this model, but 99% of multi-family apartment owners don't care about investing in single family homes or duplexes, even if it would really help their tenants. Many said maybe down the line if there were good financial returns without risk, they might be interested.

Accomplishments that we're proud of

building th website

What we learned

It's hard to trust someone around the world you don't know to actually dedicate some of their time to something with a slight chance of winning a prize, and unfortunately, many don't care about 'startups' or 'changing the world for the better' because even though there's tons of startups raising $100's of millions a year, it's not enough motivation for many.