Lets’ clarify the problem statement first (assumptions involved):

– Purpose of the application is just to make investments in real estate

– Application would just be used by the people who are interested in making investments in real estate

– Application would let the people trade (buy and sell), make payments.

– There are three major aspects of investments, buy, sell, and middle layer (the way in which the application would make money). Lets focus on the buying part for now.

Users:

-Newbies, seasoned personal investors, seasoned professional investors, bulk buyers

User Needs and Priorities:

1. User needs to be able to create a profile and let the application know their investing capacity and interests.

2. User should see the recommendations that fits their profile

3. User should see the available options that are a close fit to their profile apart from the recommendations

4. User should be able to upload funds on their profile

5. User should be able to make the purchase

Solutions: 

1. User profile creation module. Pre-loaded questions to be asked and user answers to suggest the investing capacity and interests of the user.

2. Interests and capacity driven investment recommendations/options would be displayed.

3. Search bar to look up the available options apart from the recommendations. This also will align the options that are close to your capacity and interests on top followed by others. We can use the blockchain immutability concept to ensure the authencity of the available trades.

4. User will be able to access and add money to the dedicated e-wallet on their profile.

5. User will be able to trade payments through the wallet. We can use blockchain concepts to validate the transactions.

User Metrics 

– Active users per day, week, and month

– New users per month

– Number of trades per day, per week, and per month

– Total funds added to the wallet: Can help us in recognising if there is chance to pursue an checkings account concept in future

– Wallet to trade conversion ratio

Version 2: 

– Show the growth trajectory on the recommendations and available options

– Analyst recommendations supporting the decision making process

– Advanced search options for narrowing down on growth and interests factor

– Checkings aaccount thorugh the wallet

Clarification:

 

Real-estate investment means:

There will be a buyer who is willing to buy properties for investment,

seller who is willing to sell properties that they have purchased for investment.

 

Goal – to acquire user, engagement

 

First, I will list different user types, select a user type, write down some pain points/user requirements.

Prioritize those pain points. Recommend solutions for some of the pain points. Select some solutions.

Finally summarize the solution.

 

User types:

Buyers:

Big investors, can pay cash to buy properties

Medium investors, – pay part cash part load

Small investors – who cannot buy all of the property so want to pool in with few buyers to buy properties.

 

Sellers – selling properties that they have previously purchased.

 

I would focus on small investors as this would be the majority of the users. Most people have some spare money that they want to use it to buy property.

 

Pain points:

1. Not enough money to buy entire property.             (M)

2. Not enough knowledge of the property. How does it look, location.    (T)

3. Are other buyers pooling in with me reliable.      (T)

4. How will the property we buy managed ?           (M)

5. Will I get rent for my property ?                           (M)

6. How will money transactions be handled. Who will gather all the money.       (T)

7. Is it easy to use this technology       (A)

 

Not enough money,    property details,  buyers reliable. money transactions be handled.

 

 

Solution:

1. Provide crowdfunding with a minimum amt – 25K. All investors will be accredited by us, check credit history of each investor.

2. The app will create virtual escrow for each property.

3. Once the entire amount has been collected, the virtual escrow take care of closing the deal.

4. A company will be created for the buyers with their respective shares. The money will be rendered to seller and property will be transferred to new company created.

4. Property – All the property details such as location, community, schools will be provided. There will be VR video of the property so buyers could look at the condition of the property and the surrounding area.

5. The app could also provide property mgmt services so buyers are not worried about taking care of the property. The app will collect management fees.

 

Prioritize the features

Must-have                customer satisfaction                Overall

1. Investor accreditation              Y                                           High                          Required

2. Crowdfunding capability          Y                            High                          Required

3. Virtual escrow                          Y                         High                          Required

4. New co. creation                      N                                           High                          Medium

5. Property details                       Y                                            High                          Required

6. VR videos                                N                                          Medium                       Medium

7. Property mgmt                        N                                          Medium                         Low

 

Based on the prioritization, I will select all the required features and new co. creation feature. This new co. is very essential for crowdfunding to succeed as investors will have certain % of share in each property.

 

KPI:

Some of the KPI’s that I would measure are:

No. of registered users, No. of properties listed for sale, % of Properties purchased,

DAU, WAU, No. of VR videos per property. % of videos viewed, % of companies formed, Avg. no. of investors per property

 

The primary KPI’s I would measure are No. Of registered users by buyers and sellers, % of Properties purchased, DAU, WAU, % of VR videos viewed,

 

 

Summarize:

To summarize, I am creating MVP for real estate investment. I have recommended creating a platform that allows crowdfunding of real estate. This will allow small investors to buy/sell real estate too. I suggested some must-have features such as a crowdfunding platform that allows multiple buyers per property. All investors on the app would be accreditatied. There will be a virtual escrow setup that closes the real estate deal between buyers and sellers. The app will provide complete details of the property such as property size, location, community etc. There would high quality VR videos of the property so investors can have clear view of the property and can decide whether to invest or not. I also suggest to provide new co. creation capabilities for investors so investors can easily invest together through the new company.

Primary KPI’s are # of registered users buyers classified by buyers and sellers, % of properties purchased, DAU, WAU, % of VR videos viewed.