Have you heard the news that institutional investors are betting on the housing market and buying up single family housing everywhere?

Corporations want to become your landlord.

Meanwhile, the average person is powerless and stuck in this inflation hell! But now, with the help of web3 and DAOs, we the people have the chance to change the old ways of predatory landlords and mortgages!

The Monopoly DAO is a way for everyone and anyone to become owners of the houses they live in. Imagine instead of borrowing from banks to buy your house or renting from Mr. Landlord, you chip in to Monopoly DAO to become part owner of hundreds of houses and apartments in major cities all over the world. If you rent one of the DAO's houses, that money goes back into the DAO's war chest, ready to invest in the next house.

My name is Nick. (@nicwn on Twitter. nickwang.eth is my ENS.) The picture of the Monopoly DAO? That's the view looking out from my apartment in Hong Kong. I'm putting it up as the seed property to be owned by the Monopoly DAO!

I'll cover 3 main topics below: "Why am I creating Monopoly DAO?", "The Apartment", and "What Will the DAO Do?".

Why am I creating Monopoly DAO?

Think about the way we buy a house now. We apply for mortgage at the bank, the bank lend us the money, and we pay the bank back every month. However, because these are amortized loans, as much as 75% of our monthly payment is just paying the interests to the bank and not the principal of our loan. So imagine you have a 30 year loan, after paying every month for 15 years, you should've paid off half of the loan but instead, you've only paid off 25%! Because Banks.

Then, even if you've paid off your one house, it isn't very "liquid". BTW, do you know how the rich use loans to get even richer? They live the "margin loan life". Basically, they take loans out of their appreciating assets and use the money to invest in more assets, no need to pay taxes because assets are never sold, and only paying the loan back when they die. For most of us normal people who can barely afford one house, this kind of wealth accumulating method used to be out of our reach. Not anymore. In web3, we the people can band together to form DAOs and play the same game the rich plays.

This is why I'm throwing my apartment out there to seed the creation of Monopoly DAO.

The Apartment

The FOURSQUARE MANSION is located at 215-219 Sai Yeung Choi St. N. in Kowloon near Prince Edward MTR station. It's on a short, quiet street facing the Police Sport Recreation Club, which owns a huge sports ground and is never going away.

In the "concrete jungle" of Hong Kong, having a view like this is extremely rare. We bought it in 2011 after waiting for months for a listing on that street! Since then, we've paid the bank $13,800 HKD (USD $1772) every month. Since around 2013, we've rented it out for a monthly price between $18,000 - $22,000. (USD $2311 - 2825) Last I checked, the value of this apartment was at $9.7 mil. HKD. ($1.246 mil. USD). The family currently living there has been there since 2017. They had asked if they could buy it from me last year but I turned them down. This will be a chance for them to be part owner of this apartment too!

What Will the DAO Do?

I've actually never been a "finance" person until jumping into web3 and DeFi in 2021, (still not much of one) so I'm not the best person to set this up. What I imagine is the initial crowdfunding will go toward the Monopoly DAO buying this apartment from me. Owners will own a share of the Monopoly DAO, and then all of us can figure out how to set things up together. I've asked around in a couple of DAOs I belong in, and here are two examples of how we can proceed.

1. We search for the next listing to acquire for the Monopoly DAO, we calculate the future value of the DAO after acquiring said listing, and open up a new crowdfunding round to attract new investors.
2. Use the Monopoly DAO as a main DAO, create sub DAOs for each piece of investment we own and fractionalize it to sell up to 49% of its shares. Investors can buy ownership of the main DAO which is sort of an index fund of properties or invest in individual deals.
3. The rental income can be invested in DeFi until we have the next target to deploy to.

It's a little scary posting all these personal information online, but I think it's a worthwhile endeavour and so I'm just gonna go for it and press "Post". I'm starting a Discord for anyone who's interested in kick starting this DAO together. (Let's discuss in there!) Once we've worked out the details and I've confirmed all the numbers and gathered all the paperwork, we can go live with the crowdfunding right here on Mirror.