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RE: Crowdfunding Your Down Payment For A Home
Thanks for this information. What I don't understand about crowdfunding, is what do the investors get in return? Why would they give you their hard-earned money for something that does not directly benefit them? 😀 😃 😄 😁 😆I'm probably just missing something.
For personal events, like a divorce or funeral etc, they might help because they care about another person, and it's not about getting anything in return. They might see a family lost everything on the news and want to help them, or read about someone with an illness who needs help for treatment or bills etc, many different circumstances.
For business, usually for those seeking the funds for some business endeavor, they will often set some sort of terms and the investor gets a certain perk like first access to the product once it is built? if they help to donate etc also many ppl might come up with a cool idea that others like but not have the funds to get it off the ground and if enough people like the idea and want to see the idea come to full realization then they can contribute to making that happen. In this circumstance with the home, i think people who are getting married or having some other celebration might instead of asking for gifts from loved ones, ask them to fund their home downpayment via this method, many couples already do this with asking guests to their events to rather than give a gift, give them $ for a honeymoon or something etc. :)
OK makes sense. There is this artist in South Africa named Koos Kombuis. I went to one of his latest shows, it was actually at someone's house. Someone told me he was crowdfunding his new album. I think you then get a CD in return if everything works out.What I would probably do is give people a share in the company or a ts shirt or a car depending on how big their contribution was. I hope you have a WONDERFUL day!!! 😀 😃 😄
Often crowdfunding people will get something in return. Like the first production of the product being crowdfunded or something like that. But then there's cases like this where you just have to scratch your head and wonder. Like what's the benefit of contributing to helping buy somebody elses house? Practically Speaking? Like, do they get to come over on Saturdays and use the tennis court or something? 😂
haha I know that's exactly what I meant. Reminds me of that guy who did a ted talk on asking people for favours. He went to random people's houses and asked for favours, also to businesses. Like once he went to a random person's house in basketball clothing and a ball and asked them if he could play basketball in their back yard.
Another time he was at Krispy Kreme and asked them for donuts shaped in the olympic symbol. They actually did it and then even gave it to him for free. I actually just found it here it is