By Joy Dumasia

August 08, 2022

  • America
  • digital asset
  • Empire

Rhovethe all-new FinTech app that lets anyone invest in real estate with just $1 in a minute, announced a partnership with Empire, the luxury residence for the elderly in Illinois. Residents will now have the opportunity to invest in their apartment and anyone in the United States looking to diversify their investments.

“Our partnership with Rhove is about providing the ability to have more freedom,” said Todd Swift, one of the promoters of the Empire property. “Not just freedom as a tenant to come and go as you please, but also financial freedom. Now our residents will have the option to invest in the building itself as a tenant, which is not generally not an option so far.”

Rhove’s mission is to expand access and opportunity for everyone to invest in and own a part of the places where they live, work and play. In May, Rhove received qualification from the U.S. Securities and Exchange Commission (SEC) to launch its offerings that allow anyone to invest in real estate for as little as $1 per share, previously only available to people and rich and connected institutions. This partnership is one of the first investment opportunities made available to the public on the Rhove platform.

“We are creating a world where every tenant is an owner,” said Calvin Cooper, co-founder and CEO of Rhove. “As we grapple with rising inflation and our growing housing crisis, we realize that expanding access and opportunity is now more important than ever. Rhove is the first platform in the United States allowing anyone to invest without high minimums or other prohibitive requirements.

Empire is a community built for active seniors in transition. Many seniors move from a home they previously owned to renting. Empire even offers to support the transition by buying tenants’ houses in advance and reselling them at no additional cost. Now, in partnership with Rhove, they are also the first to allow their residents to become investors for as little as $1 per share.

“Our generation has always learned to own their home,” said Patty Tucker, Community Manager at Empire. “It’s a huge decision for them to sell a house and become a tenant. Having the opportunity with Rhove to invest in Empire and gain ownership of their property gives seniors that familiar sense of ownership.

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