Latest / The Paul Barron Crypto Show / Real Estate Boom Incoming!🚀Propy CEO INTERVIEW
Transcript
- 0:06Speaker 1: Is the real estate boom incoming. Today we'll be breaking
- 0:09Speaker 1: down all of that for you and how it applies
- 0:10Speaker 1: to the crypto market. My name is Paul Barrel. Welcome
- 0:12Speaker 1: back into tech path. I want to get started today.
- 0:14Speaker 1: I want to thank our sponsor and that is Coinbase,
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- 0:36Speaker 1: one way to get started. Very easy to set up too.
- 0:39Speaker 1: This is probably one of the easiest. I've done this
- 0:41Speaker 1: with many people who are brand new to crypto. They
- 0:43Speaker 1: always ask me what do I use. I show them
- 0:45Speaker 1: how to use it on coinbase. They love it after
- 0:47Speaker 1: they get in use our link. It does help the channel.
- 0:49Speaker 1: Let's get going into it today. I want to start
- 0:52Speaker 1: with some things that are starting to flow into the market,
- 0:56Speaker 1: and one of the things I want to show you
- 0:58Speaker 1: here is the Florida housing market. Now, this is just
- 1:01Speaker 1: showing you in comparison to the average Florida home value.
- 1:04Speaker 1: I know that's kind of high, but that's Florida. But
- 1:06Speaker 1: it's down, you know, considerably, and the value starting to
- 1:10Speaker 1: plateau right here. That's the kind of thing that is
- 1:15Speaker 1: starting to maybe shift a little bit if you look
- 1:17Speaker 1: at it right here, the housing market overview. There's the
- 1:20Speaker 1: media and sales price, but the number of homes sold.
- 1:23Speaker 1: Look at this dip right here. This is the point
- 1:25Speaker 1: in which the least number of days on the market
- 1:28Speaker 1: is like around twenty days around twenty twenty two, mid
- 1:31Speaker 1: mid twenty twenty two. It's spiked up in February of
- 1:34Speaker 1: twenty three, and then here we are February of twenty five,
- 1:37Speaker 1: almost eighty days on the market. That's the difference here, guys,
- 1:41Speaker 1: is that we are seeing a market that is slowing
- 1:44Speaker 1: right now. And if it's happening here in Florida, which
- 1:46Speaker 1: is one of the lagging markets that's already started to
- 1:49Speaker 1: see this nationwide, some of the regulatory alignment could be
- 1:54Speaker 1: a big factor here. I want to go to this
- 1:56Speaker 1: clip right here of Ron de Santis kind of speaking
- 1:58Speaker 1: to the point of property tax.
- 2:00Speaker 2: Take a look.
- 2:01Speaker 3: We would end up with about one thousand dollars in
- 2:04Speaker 3: property tax cut for every homesteaded Floridian and that will
- 2:08Speaker 3: make a big, big bin. But authorizing a nice crisp
- 2:12Speaker 3: doze effort for local governments where you'd be able to
- 2:17Speaker 3: look at the payments, the contracts and then publicize this
- 2:20Speaker 3: because if you look at the budgets, it's very opaque.
- 2:23Speaker 3: I know we want to get on the ballot, but
- 2:24Speaker 3: we have a chance to do this this year's man,
- 2:26Speaker 3: I'll tell you first of other realtors, I mean you guys,
- 2:29Speaker 3: would you would boom like never before? I mean, are
- 2:31Speaker 3: you kidding me? This would be really good?
- 2:33Speaker 1: All right? So, speaking of real estate, I have to
- 2:35Speaker 1: bring on one of the experts that's been on our
- 2:37Speaker 1: show before, and that is Natalia coming in from Propy.
- 2:41Speaker 4: How are you good?
- 2:42Speaker 5: Thank you so much for having me, Paul.
- 2:44Speaker 1: Nice to see you again. We've had you guys on
- 2:46Speaker 1: the show before. You guys want to check out that video,
- 2:49Speaker 1: you can go back and just search Propy. You'll find it.
- 2:51Speaker 1: But give me an understanding and some of our new
- 2:54Speaker 1: people that are watching right now and listening. What is
- 2:57Speaker 1: Propy and how does it apply to the cript market
- 3:00Speaker 1: and the real estate boom that could be incoming.
- 3:02Speaker 6: Absolutely, So PROPY is very much focused on automation of
- 3:06Speaker 6: the real estate transaction. We're utilizing smart contracts and AI
- 3:10Speaker 6: to automate the real estate transaction and actually address the
- 3:14Speaker 6: affordability because today consumers are losing a lot of money
- 3:18Speaker 6: when they're buying homes in different fees and the speed
- 3:22Speaker 6: is high and so on. So speaking of affordability and
- 3:25Speaker 6: the mobility of the new generation when they want to
- 3:28Speaker 6: move to where the jobs are within the states and
- 3:32Speaker 6: they want to get into home ownership, whether it's tax
- 3:38Speaker 6: decrease or other incentives and interest rate.
- 3:43Speaker 5: To be lower.
- 3:44Speaker 6: The transaction fee also the big segment where we can
- 3:47Speaker 6: help the consumer, the American home buyer to save and
- 3:51Speaker 6: make this decision easier for them to get into home
- 3:54Speaker 6: ownership to buy a new hole when they move from
- 3:57Speaker 6: one state to another. So that's our mission to make
- 4:00Speaker 6: the real with it closing very fast, very user friendly,
- 4:05Speaker 6: so that the new generation is not afraid to get
- 4:08Speaker 6: an ownership with the lack of this unnecessary bureaucracy, so
- 4:14Speaker 6: it's easy to buy a home as it's easy to
- 4:17Speaker 6: buy a crypto today.
- 4:19Speaker 1: Yeah, Well, I think the key here is disruption because
- 4:21Speaker 1: we are seeing a bit of a change here. If
- 4:24Speaker 1: DeSantis is successful in lowering property tax in Florida, this
- 4:29Speaker 1: would have an immediate effect on home sales, which could
- 4:33Speaker 1: generate right into what you're talking about in terms of
- 4:36Speaker 1: getting more transactions into crypto. I was looking at a
- 4:39Speaker 1: Twitter post you guys put up here. This is just
- 4:42Speaker 1: showing the Q one properties gain game changing wins you
- 4:46Speaker 1: guys have done. Let me kind of zoom in on
- 4:47Speaker 1: that start, but I can see record breaking a quarter
- 4:50Speaker 1: in terms of transaction revenue, so that's good. Launched the
- 4:53Speaker 1: first ever bitcoin backed real estate loans, so that's been done,
- 4:57Speaker 1: and then you have also been closing real estate day
- 5:00Speaker 1: transactions including Hawaii. So, first of all, with some of
- 5:04Speaker 1: those things that you guys have hit on right now,
- 5:06Speaker 1: the last time we had you on it was very
- 5:09Speaker 1: early in your journey of kind of bringing this into
- 5:13Speaker 1: the market of real estate. How do you feel like
- 5:16Speaker 1: the market is right now in terms of accepting what
- 5:19Speaker 1: you guys are trying to do.
- 5:21Speaker 6: Yeah, we definitely have been very busy since our last
- 5:25Speaker 6: show together, and it's a tremendous opportunity for us when
- 5:30Speaker 6: the markets are down to really focus on the excellence
- 5:33Speaker 6: and operations.
- 5:34Speaker 5: So today we operate as a licensed title.
- 5:37Speaker 6: Company in Florida, Arizona, and Colorado and about five more
- 5:41Speaker 6: states are coming by the end of the year.
- 5:45Speaker 5: And I think the best.
- 5:47Speaker 6: Testimonial for us is by regular clients, not necessarily crypto natives,
- 5:54Speaker 6: but regular clients who are using and choosing Properit Title
- 5:57Speaker 6: as their title company they buy a home. And the
- 6:01Speaker 6: best estimonial is on Google reviews. We have all five
- 6:05Speaker 6: star reviews from multiple buyers and realtors that are happy
- 6:09Speaker 6: that we provide this transparency with twenty four to seven platform,
- 6:14Speaker 6: but also security when we use blockchain to secure every
- 6:20Speaker 6: single step of the transaction and they're paying us in
- 6:23Speaker 6: dollars through why transfers. But the beauty of our settlement
- 6:26Speaker 6: producol is that we've built numerous integrations with banks, online payment,
- 6:33Speaker 6: with the recording with counties and others. So yes, Q
- 6:38Speaker 6: one in twenty twenty five delivered all time high and
- 6:41Speaker 6: transactions and volume. Our team is doing great. We're about
- 6:45Speaker 6: forty people today, so I'm very very proud of everything
- 6:49Speaker 6: that the Proper team was able to deliver.
- 6:51Speaker 1: So, Natalia, what is the current status right now of
- 6:56Speaker 1: bitcoin back loans that could be utilized in real estate purchases.
- 7:01Speaker 1: Has there been any any expansion, any expansion in terms
- 7:05Speaker 1: of the banks and or financial institutions or just crypto
- 7:08Speaker 1: companies that have said, hey, we want to jump into this.
- 7:11Speaker 1: Have you seen any new players coming out.
- 7:14Speaker 6: Yeah, that's a great question with kind of a positive story,
- 7:19Speaker 6: but also a cautionary story behind it. Obviously, as Michael
- 7:24Speaker 6: Sailor is saying, bitcoin is pristine collateral, we all believe
- 7:31Speaker 6: in this use case where you could use your crypto,
- 7:35Speaker 6: whether it's x RP, Bitcoin, Ethereum, Solana, and you could
- 7:40Speaker 6: use it as a collateral to diversify your investment and
- 7:44Speaker 6: get into.
- 7:45Speaker 5: Real world assets such as real estate. So for the
- 7:48Speaker 5: first time in history, we were able to.
- 7:51Speaker 4: Deliver an own chain loan that would execute as a
- 7:57Speaker 4: loan only if the realty transaction is closing smart contracts,
- 8:01Speaker 4: so it's all executed automatically, and now.
- 8:04Speaker 6: The homeowner is able to wait for the appreciation of
- 8:08Speaker 6: their bitcoin but also have exposure to real estate. The
- 8:12Speaker 6: caveat here back to your question is that the traditional
- 8:17Speaker 6: players are not ready to use bitcoin as a collateral,
- 8:21Speaker 6: while the crypto native lending platforms are not ready to
- 8:25Speaker 6: accept real estate traditional assets as a collateral.
- 8:28Speaker 5: So we've been.
- 8:29Speaker 6: Educating both the largest mortgage companies as well as the
- 8:34Speaker 6: largest crypto lending platforms, and I think we'll soon have
- 8:38Speaker 6: some news in this opportunity to scale. But so we've
- 8:43Speaker 6: been educating, and before we reach this equilibrium of understanding
- 8:49Speaker 6: that both assets are digital secure and could play a
- 8:54Speaker 6: role and should play a role as a collateral. Before
- 8:57Speaker 6: we see that, we will not observe of the scale.
- 9:00Speaker 6: But it's coming, and we had a number of conversations
- 9:03Speaker 6: not only with those institutional players I mentioned, but also
- 9:08Speaker 6: with the quasi governmental institution that are getting there into
- 9:13Speaker 6: their understanding. We've been even advocating for mortgages to be
- 9:19Speaker 6: approved for crypto natives that own bit coin, so that
- 9:22Speaker 6: the coin based statements to be approved for acceptance as
- 9:27Speaker 6: a proof.
- 9:27Speaker 5: Of funds for mortgage applications.
- 9:31Speaker 6: So we've been advocating it not only for the proper
- 9:34Speaker 6: user benefit, but overall for the American home buyer, because
- 9:38Speaker 6: I want to remind the listeners here that in twenty
- 9:41Speaker 6: twenty two, twelve percent of first home buyers in America
- 9:46Speaker 6: used cryptocurrency to back their down payment. So the new generation,
- 9:52Speaker 6: they choose crypto, they choose real estate, and it's time
- 9:55Speaker 6: those two accets to merge.
- 9:57Speaker 1: Coinbase, which is one of the most you know, their
- 10:00Speaker 1: sponsor to show one of the biggest platforms out there.
- 10:04Speaker 1: A lot of people are carrying balances both in coinbase,
- 10:07Speaker 1: whether it's USDC, even the dollar, or in crypto assets,
- 10:12Speaker 1: and I'm surprised that banks are not using that as
- 10:15Speaker 1: a validation of funds. Are you telling me that that's
- 10:18Speaker 1: not happening today.
- 10:20Speaker 6: It's not happening today, but it's coming. And again on
- 10:24Speaker 6: our site, we've been advocating and educating both the DC
- 10:30Speaker 6: Legislation Group as well as Freddie Mac fundi MA Leadership
- 10:35Speaker 6: group so that they look at it. And I think
- 10:38Speaker 6: it should come as a community effort, and I'm sure
- 10:41Speaker 6: the coin based community is doing that as well as
- 10:43Speaker 6: we do it. It all comes to the security and
- 10:47Speaker 6: trust to allow first of those approvals to come through,
- 10:52Speaker 6: and of course coinbase has this reliable source of statements
- 10:56Speaker 6: of KYIC and mL procedures that could be sufficient enough
- 11:01Speaker 6: for the risk management of mortgage providers banks that are
- 11:07Speaker 6: actually reliable on the Freddie Mac and Fendiminal.
- 11:10Speaker 5: Rules, so back it goes back.
- 11:13Speaker 6: To them to start doing those exceptions at first before
- 11:17Speaker 6: it comes standard.
- 11:19Speaker 1: Today, I noticed that you have some Grant Cardon listings
- 11:23Speaker 1: listening with property. Are you finding that maybe getting guys
- 11:27Speaker 1: like Grant and other big real estate investors to start
- 11:32Speaker 1: utilizing this tool would validate that for maybe the bankers,
- 11:37Speaker 1: a lot of the industry itself, especially going forward. Does
- 11:40Speaker 1: that help do you feel?
- 11:42Speaker 6: I think any story that gets attention to the consumer
- 11:46Speaker 6: and media, and then those champions within big organizations they
- 11:51Speaker 6: also pay attention.
- 11:52Speaker 5: And when you.
- 11:53Speaker 6: See stories like real estate and bitcoin come together, whether
- 11:56Speaker 6: at the Grand Cardon or other influencers, it just drives
- 12:03Speaker 6: attention to the whole space. Because the space is growing.
- 12:08Speaker 6: It's not only bitcoin back loan. It's not only listing
- 12:11Speaker 6: your property, your luxury forty million dollar property willing to
- 12:16Speaker 6: accept bitcoin. It's an array of things such as escro
- 12:20Speaker 6: vsmar contracts such as fractional ownership. And it's not only
- 12:24Speaker 6: properly that is tackling the space. So as soon as
- 12:28Speaker 6: we grow together and help each other to put this
- 12:32Speaker 6: voice out, I think a lot of players, institutional players
- 12:37Speaker 6: are paying attention and they're getting mature you know, Paul,
- 12:42Speaker 6: when we started in twenty seventeen, most of our conversations
- 12:45Speaker 6: with institutional players and legislators were about what is blockchain,
- 12:49Speaker 6: why it's a mutable, what is crypto?
- 12:52Speaker 5: It's all shady.
- 12:53Speaker 6: So all the.
- 12:54Speaker 5: Hours we've spent on education was about.
- 12:57Speaker 6: The legitimacy of the space. This is no longer a
- 13:02Speaker 6: point of conversation because legitimacy is here. The high level
- 13:07Speaker 6: education of why bitcoin and blockchain matter is already there.
- 13:11Speaker 6: Now we're getting deeper into applications, into use cases such
- 13:15Speaker 6: as proppy use DC and everything that other successful crypto
- 13:21Speaker 6: companies in America are doing. And of course, with the
- 13:24Speaker 6: new administration being so procrypto, it only helps.
- 13:28Speaker 1: I want to go back to Florida for a second,
- 13:30Speaker 1: because there is a bit of a unique shift that
- 13:33Speaker 1: is occurring in Florida that will most likely cause a
- 13:36Speaker 1: lot of real estate to be open on the market.
- 13:39Speaker 1: One is this whole idea about registering Canadian the snowbirds
- 13:43Speaker 1: that are coming in here, because remember the whole issue
- 13:46Speaker 1: in Florida right now, I'll just read this warm and
- 13:48Speaker 1: sunny Florida, Great White North. This is all the people
- 13:51Speaker 1: that are coming down here. Last year, around three point
- 13:53Speaker 1: three million Canadians came down and about twenty seven percent
- 13:57Speaker 1: of our overall international visitors coming out of Canada. So
- 14:01Speaker 1: the key is they own a lot of homes here,
- 14:04Speaker 1: and we are now seeing a large amount of those
- 14:08Speaker 1: homes being listed on the market. So all of a sudden,
- 14:11Speaker 1: we've got a boom in available property that we did
- 14:14Speaker 1: not have here in Florida. So this could open up
- 14:18Speaker 1: some opportunity. Like what you're saying is you know there
- 14:20Speaker 1: just wasn't any houses available. But I want to get
- 14:23Speaker 1: to the point of where regulation could be playing into this,
- 14:27Speaker 1: possibly with a new governor incoming. And this next clip
- 14:32Speaker 1: is Brian Donalds who's talking about what he could do
- 14:36Speaker 1: here in Florida.
- 14:37Speaker 2: Take a look. Let's make Florida the financial capital of
- 14:41Speaker 2: the world. Bigcoin will be a part of the state's portfolio.
- 14:45Speaker 2: We will cut the commercial lease tax ease rules and
- 14:50Speaker 2: lead and blockchain and crypto.
- 14:52Speaker 1: He seems to be very pro blockchain. This could be
- 14:56Speaker 1: good for you. Is there a regulatory framework that you
- 15:01Speaker 1: would say, Hey, if we could get these things done
- 15:03Speaker 1: in the state of Florida and show the rest of
- 15:05Speaker 1: the country how to do this, what would they be.
- 15:10Speaker 5: Oh definitely yes.
- 15:11Speaker 6: And we've been talking to a number of legislators not
- 15:15Speaker 6: only in Florida local counties, but also in DC which
- 15:20Speaker 6: I was honored to be the reception after the famous
- 15:24Speaker 6: Scrypto summit at the White House and also participating in
- 15:28Speaker 6: the Digital Summit with the Milken Institute. And we're entertaining
- 15:34Speaker 6: five ideas on what some of the states could be
- 15:37Speaker 6: the first ever states to introduce to set the example.
- 15:43Speaker 6: One of them is an obvious one. Let's allow counties
- 15:47Speaker 6: to record deeds on blockchain and also make sure the
- 15:52Speaker 6: history of the title transfer also is recorded on blockchain,
- 15:57Speaker 6: so we will need less paperwork for transfer and also
- 16:01Speaker 6: it's more secure to store title this way.
- 16:05Speaker 5: The second one is ensuring.
- 16:08Speaker 6: And kind of requesting the es pro process to be
- 16:12Speaker 6: happening in the smart contract, which would address the fraud
- 16:16Speaker 6: risk because Florida unfortunately is flourishing in terms of the
- 16:21Speaker 6: fraud cases in comparison to the rest of the country.
- 16:25Speaker 6: The other point that we're working on with the other
- 16:32Speaker 6: states representatives are aligned on the first ever AI agent
- 16:37Speaker 6: to take over of a closing process in real estate
- 16:40Speaker 6: where you trust the processes and the current regulation to
- 16:46Speaker 6: allow an AI agent to process the transaction, of course,
- 16:51Speaker 6: initially with the help of a human licensed professional, but
- 16:55Speaker 6: eventually it will be a case where Florida or another
- 17:00Speaker 6: state will allow this fraud fraudless way of transacting real
- 17:08Speaker 6: estate and a number of other ideas.
- 17:12Speaker 5: That were entertaining it.
- 17:13Speaker 6: And it's all to the benefit of the local homeowner
- 17:18Speaker 6: to save on fees, to make transaction more secure, and
- 17:23Speaker 6: to make it also very easy and understandable for the
- 17:26Speaker 6: foreign investor. Historically, the foreign investors in Florida buying real
- 17:31Speaker 6: estate war for Latin America. Then it was the Canadian
- 17:35Speaker 6: wave and I've observed it in the past with Bulgaria
- 17:39Speaker 6: where I established my real estate development company.
- 17:43Speaker 7: So it was a wave of UK investors and the
- 17:45Speaker 7: wave of Lat lat Fair investors. So Florida is one
- 17:49Speaker 7: of those states that will keep having those cycles of investors.
- 17:54Speaker 5: Given this tremendous growth both.
- 17:56Speaker 6: In Miami infrastructure and housing as well as the Tampa area.
- 18:01Speaker 6: Amazing tremendous growth. I think will yet to see a
- 18:04Speaker 6: lot of new countries to invest but also the talent
- 18:09Speaker 6: right because Miami now is developing into a new silicon.
- 18:12Speaker 5: Valley momentum area.
- 18:16Speaker 6: So more talent and more kind of investors will come
- 18:20Speaker 6: into the space, and we need a very user friendly
- 18:24Speaker 6: way to allow them to invest in real estate. Having
- 18:28Speaker 6: said that, we don't need any specific regulation to keep
- 18:32Speaker 6: flourishing and thriving in Florida. Historically, when we launched here,
- 18:38Speaker 6: Floridians were very receptive to proper title and again you
- 18:41Speaker 6: can see all those five star reviews on Google in Florida.
- 18:46Speaker 6: But some items definitely could help us grow even faster.
- 18:52Speaker 1: Well, I think the key here is once that you
- 18:54Speaker 1: get framework from a regulatory standpoint starting to align, and
- 18:59Speaker 1: it appears that we have that now with obviously the
- 19:02Speaker 1: Trump administration, but possibly with some key states. Texas most
- 19:06Speaker 1: likely will be a leader. I know you guys are
- 19:09Speaker 1: in Florida, but all right, listen, Natalia has been good
- 19:12Speaker 1: seeing you, and I think the interesting thing is as
- 19:15Speaker 1: we start to see some growth here within blockchain in general,
- 19:19Speaker 1: real estate is a natural next evolution. So if you
- 19:22Speaker 1: guys want to learn more about Proppy, you guys can
- 19:25Speaker 1: just go over to their website, which is propy dot
- 19:28Speaker 1: com and get a little bit more of a rundown.
- 19:31Speaker 1: Thanks again for coming in today. We appreciate it.
- 19:33Speaker 6: Thank you, Paul, You bet all right.
- 19:35Speaker 1: If you guys are not part of the Diamond Circle,
- 19:37Speaker 1: get in right now. It's a great place to get
- 19:38Speaker 1: initial content from us. And you can also jump into
- 19:42Speaker 1: our private telegram group and that's where I am in
- 19:45Speaker 1: there talking with you guys, coming up with ideas. What
- 19:47Speaker 1: are you going on in terms of your strategies. I'll
- 19:50Speaker 1: leave a link down below to join that, and of
- 19:52Speaker 1: course follow me out there on x at Paul Baron.
- 19:54Speaker 1: We'll catch you next time right here on tech Path,
- 20:00Speaker 1: newt