Source: yahoo!finance —
Philip Michael, Founder of NYCE App, joins Yahoo Finance Live to talk about how the app helps investors who are looking to buy property.
EMILY MCCORMICK: Welcome back. If you want to own real estate, NYCE is letting you invest in a piece of a property for as little as $100. NYCE CEO Phillip Michael joins us now for more. And, Philip, this is a property at Temple University in Philadelphia. You first had a public offering for a building at this location back in 2020. And you’re building on this now. Explain how this works.
PHILIP MICHAEL: Right. So the way that it works was that we took it through something called the Regulation CF, which allows people that are so-called non-accredited investors to come in and own a piece of a property that was typically reserved for so-called accredited investors, who are worth a million or more. What our mission is is to help people who aren’t necessarily part of the 1%, but part of the 99%, to come in and own a piece for as little as $100.