Puerto Rico: Foothold.co [Foothold], a real estate crowdfunding platform for investing in “unique” hotels and glamping spaces, has announced the public launch of its product.
After completing compliance with the US Securities and Exchange Commission [SEC] and finalising the development of an online platform to process investments, the product will be available to both accredited and non-accredited investors.
While investing in real estate typically requires time, experience and substantial capital, Foothold claims that it can allow anyone to invest in short-term rentals with as little as $500 in less than three minutes. Investors can claim discounts of up to 50 per cent.
Foothold focuses on unique hotels and glamping spaces as they are the “highest performing asset class on Airbnb”, achieving higher annual occupancy rates and allowing for higher pricing.
To achieve this, Foothold partners directly with landowners and real estate developers to optimise investor returns.
Germán Rimoldi, co-founder and CEO of Foothold, said: “At Foothold, we focus on securing investment opportunities in the hospitality industry for our clients, who might not normally have access to such offerings. Our focus lies in investing in projects that seamlessly blend nature and architecture, as we believe this trend will shape the future of the hospitality industry, generating high returns over time.”
The company announced that the product will be available starting on 16 October. Additionally, it revealed plans to offer retail investors the opportunity to invest in the ‘Patagonia Mirror Hotel’ resort, which comprises 18 units in Patagonia, Argentina.
Furthermore, Foothold is actively seeking hotel and glamping space developers in Puerto Rico to offer the platform to local investors starting in 2024.
Founded in Miami last September, Foothold launched a $5 million fund to serve accredited and non-accredited investors in the United States. The company is also currently participating in the Parallel 18 international accelerator programme in Puerto Rico.