LIFETEAM COIN WHITEPAPER
LifeTeam Coin ($LFTM) is a revolutionary token built on the Solana blockchain with a mission to combat the rising trend of private equity firms purchasing single-family homes. By raising funds through LifeTeam Coin, we acquire single-family homes, transforming them into LifeTeam Properties—rental units that provide tenants with the flexibility of apartment living and the benefits of homeownership. This whitepaper outlines the vision, technology, and economic model behind LifeTeam Coin, presenting a robust solution to enhance home affordability and financial security for individuals.
Intro
The housing market has increasingly become dominated by private equity firms, leading to inflated prices and reduced accessibility for single-family homes. LifeTeam Coin aims to reverse this trend by creating a community-driven initiative to purchase, manage, and eventually profit from these properties, all while providing affordable housing options with ownership benefits to tenants.
Vision
LifeTeam Coin envisions a future where individuals have the opportunity to live in affordable, single-family homes without the threat of corporate domination. By leveraging blockchain technology and a decentralized funding model, LifeTeam Coin aims to empower people to reclaim the housing market for the benefit of individuals and families.
Tech
Solana Blockchain
LifeTeam Coin is built on the Solana blockchain, chosen for its high throughput, low transaction costs, and robust security features. Solana's scalability ensures that LifeTeam Coin can handle a large volume of transactions efficiently.
Token Supply
The total supply of LifeTeam Coin is capped at 1 billion $LFTM. This fixed supply ensures scarcity, which can help in maintaining the value of the coin.
ROADMAP
Benefits of the 5 Phases to LifeTeam Coin Holders
The phased approach of LifeTeam Coin ensures structured growth and offers multiple benefits to coin holders. Each phase is strategically designed to increase the value of the coin, enhance community engagement, and provide significant returns on investment. Here’s a detailed explanation of how the five phases benefit LifeTeam Coin holders:
Phase 1: Market Cap $10M
Token Supply: 5% (50 million $LFTM)
Action: Buy 1 property
Update: Post YouTube video
Benefits to Coin Holders:
Initial Investment Opportunity: Early adopters benefit from the initial growth and can acquire $LFTM at a lower price.
Transparency and Trust: Posting a YouTube video to document the first property purchase builds transparency and trust within the community.
Foundation for Growth: Establishing the first LifeTeam Property sets the foundation for future acquisitions and community engagement.
Phase 2: Market Cap $100M
Token Supply: 4% (40 million $LFTM)
Action: Buy 5 properties
Update: Post YouTube update
Benefits to Coin Holders:
Increased Property Portfolio: Acquiring 5 more properties increases the asset base, potentially raising the coin's value.
Enhanced Visibility: Regular YouTube updates keep the community informed, enhancing investor confidence.
Community Engagement: A growing number of properties demonstrate the project's viability and attract more coin holders.
Phase 3: Market Cap $500M
Token Supply: 3.5% (35 million $LFTM)
Action: Buy 20 properties
Update: Post YouTube update
Benefits to Coin Holders:
Significant Asset Growth: The addition of 20 properties significantly boosts the asset portfolio, likely increasing the coin's market value.
Regular Updates: Continued transparency through YouTube updates maintains investor trust and attracts new investors.
Strengthened Ecosystem: A larger portfolio enhances the overall ecosystem's stability and profitability.
Phase 4: Market Cap $2B
Token Supply: 3.1% (31 million $LFTM)
Action: Buy 100 properties
Update: Post YouTube update
Benefits to Coin Holders:
Major Expansion: Purchasing 100 properties signifies a major expansion, leading to a substantial increase in asset value.
Market Confidence: Regular updates and a larger asset base attract institutional investors and further market confidence.
Increased Returns: More properties mean higher rental income and potential appreciation, leading to increased returns for coin holders.
Phase 5: Market Cap $10B
Token Supply: Remaining 2.08% (20.8 million $LFTM)
Action: Bring on partners, expand team and purchase 1,874 units.
Update: Airdrop clock starts
Benefits to Coin Holders:
Massive Scale-Up: Acquiring 1,874 units represents a massive scale-up, dramatically increasing the project's asset base and potential revenue.
Direct Returns: The airdrop clock starting indicates a mechanism to distribute returns directly to coin holders, rewarding their investment and support.
Mature Ecosystem: By this phase, LifeTeam Coin has established a mature and robust ecosystem, offering consistent and significant returns to coin holders.
Overall Benefits Across Phases
1. Asset Appreciation: As more properties are acquired and managed, the overall value of the assets increases, potentially leading to higher coin prices.
2. Profit Sharing: The profit model ensures that coin holders benefit from rental income and property appreciation, providing a steady stream of returns.
3. Community Trust: Regular updates and transparent communication build and maintain trust within the community, attracting more investors.
4. Scalability: The phased approach allows for scalable growth, ensuring that each phase builds upon the previous one, leading to sustained and sustainable development.
5. Financial Security: The structured plan provides financial security to coin holders, with clear milestones and achievable goals.
By following this phased approach, LifeTeam Coin not only combats the negative impact of private equity in the housing market but also ensures that coin holders receive substantial and consistent returns on their investments.
Property Acquisition and Management
Funds raised from the project will be used to purchase single-family homes. These properties, known as LifeTeam Properties, will be rented out to three tenants per home. LifeTeam puts down enough money to make the mortgage affordable, then has the tenants collectively pay three times the mortgage amount.
Profit and Appreciation Model
After five years, the property is either sold or refinanced. The proceeds, including any appreciation in property value, are then split three ways among the tenants, minus a 20% fee to each member, which goes back to the LifeTeam ecosystem. These proceeds are paid out directly to LifeTeam Coin holders who supported the project. This model ensures that all parties benefit from any increase in property value over time.
Traction
LifeTeam has already garnered significant interest and support, with a waitlist of 150 people ready to move into LifeTeam Properties. This demonstrates the demand for affordable, community-driven housing solutions and the viability of our project.
Affordable Housing
LifeTeam Properties provide affordable rental options with the added benefit of homeownership, allowing tenants to build equity and gain financial stability.
Community Investment
By investing in LifeTeam Coin, community members directly contribute to combating the negative impact of private equity in the housing market.
Financial Returns
Token holders benefit from the success of the LifeTeam Properties through profit distributions, creating an attractive investment opportunity.
Conclusion
LifeTeam Coin is poised to revolutionize the housing market by providing a decentralized solution to the problem of private equity dominance. Through blockchain technology and a community-driven approach, LifeTeam Coin offers affordable housing with ownership benefits, creating financial security and investment opportunities for all participants.
LIFETEAM JOURNEY, TRACTION AND OPERATIONS
Hey, my name is Chris Michaud.. founder of LifeTeam. I came up with the idea for LifeTeam in late 2023 and got to work figuring out how I could make it a reality. The idea is actually a pivot from another problem I was trying to solve — being an entrepreneur while also trying to pay the bills. The idea was to move in with friends and have them use the money they were spending on rent to pay my bills so I could focus on building businesses. In return I'd split the equity of whatever business I started evenly with them. They win because it doesn't change their lives financially and if a business were to actually work out, they'd own a significant stake and I get the freedom to do what I love doing… Building things.
After putting together what I called a DAO playbook to govern everything, I realized that this model could be used outside of entrepreneurs looking to free up time and space. This model could be used to tackle the home affordability crisis instead.
What if people paying for tiny apartments could move into a big home with more space than their apartments, pay about the same amount in rent and have their living space become a savings account that cashes out quickly? I started crunching the numbers and doing my research and I realized oh my goodness, this could actually work!
I shopped the idea around to friends and family and they loved the idea but were concerned people would not want to live together, but if people did, this would be a great idea. After this I ended up running into even more problems. Life happens, what if people need to move out? What if people just up and leave and leave the mortgage burden on the other LifeTeam members?
The Idea was to have the members get on a mortgage together and the business model was to connect these people, form their lifeteam, and have a real estate agent get them into a property and collect a referral fee. This model left the door open to a whole set of problems.
I set out to solve these problems as I knew if i could just figure this out, this could open up an entirely new segment in the real estate industry. I decided to tackle the first problem: will people move in together? I started off by running some marketing campaigns as my background is in marketing to see If i could get on the phone with people and speak to them about moving into a LifeTeam property. The results were shocking.
I was able to convince everyone who got on the phone with me and back then the model was to have the property paid off in 7 years and each member had to stay for the entire 7 years no matter what. This was extremely promising. I now knew 100% that people would live in LifeTeam properties.
The next step was to solve the "What If life happens" problem. I solved this by deciding that members would not own the property and that LifeTeam would purchase the property and serve as landlord. The solution was to allow people to leave with a 60 day notice and now that I knew I had plenty of demand for LifeTeam, I could replace them with another member who would finish out the term. Members are incentivized to leave properly and give notice because we would save their cut of the equity if they gave us the 60 day notice before leaving. Each month's payment builds a substantial amount of equity for members so the longer they stay, the more they stand to forfeit if they don't follow the correct procedures.
If for some reason, the member doesn't notify us and leaves, we replace them and keep their equity which increases the returns for LifeTeam and it's investors. As I talked to more and more potential LifeTeam clients, the more confident I became knowing people were crossing their fingers hoping they could actually move into one of our properties and this was still just an idea I was working on.
All of the clients also agreed to split bills and utilities 3 ways and it ends up being the same as they pay anyway, if not cheaper. As I started getting more traction, I decided to incorporate LifeTeam Inc in February 2024 and take this thing to the next level. I was so excited, I couldn't sleep. All I could do was think about this model and how it can really change peoples lives and still turn a profit… then I ran into the next problem.. money.
Yes, it's true I had a little bit of demand. I had about 15 people from various parts of the US who wanted to move into LifeTeam properties, but will I be able to generate concentrated demand? Will people in the same area want to do this? I then started focusing my marketing efforts in concentrated locations and my list started to grow even more. This was amazing! I did it!
Not long after, I donated my bone marrow to my brother battling sickle cell disease and after he had his transplant, we were moved into an apartment within a Ronald McDonald charity house building. Many people lived there with us for 3 months and we had a shared kitchen space, dining room, etc and it all ran smoothly. At this point, I was convinced that I was meant to see this LifeTeam project all the way through. I even picked up ideas on how I can better refine the living conditions for members living in LifeTeam properties.
Now that I figured everything out and had a robust business model, I searched the web for competition and found a few. There's Divvy homes and a company based in Atlanta called padsplit. At divvy homes, the company would purchase property and rent it back to tenants at market rate then charge a fee on top that it would save up for the tenant. This is cool but the same thing could be achieved by just opening a savings account basically, but the tenant benefits because they get to live in a home they chose. Padsplit on the other hand let's people rent a room in a house but the houses are optimized to hold as many people as possible so space is limited and even then the average tenant stays 9 months.
This analysis further validated LifeTeam's potential. It's an extremely great deal for members and offers the best living conditions by far. I then got to work building the site and streamlining the processes and improving the client journey and flow. Our response rate was about 44% and skyrocketed to 77% with the changes.
I also added an extra step for clients who were interested and they were instructed to send a text saying "EXCITED" to be moved to the top of the list. I also collected data on what each person's goals were with LifeTeam. The results were astonishing. I was so excited for this that I started having heart palpitations.
Not long after this, reality hit. Who's gonna fund these deals?
No one will fund the company if we're only making money on referral fees. About $2,500 for a sale. Someone gives us $80k for a down payment and we only make $2,500 on the buy and $5,000 on the sale in 5 years? That sucks from their perspective. Once I came to this realization I fell into a depression and almost scrapped the project. It's awesome and people want it but no one will fund these deals just to make members lives better.. It had to make sense for investors.
After three days of non stop brainstorming and obsession, it finally hit me. We're creating so much value for members, why not just charge them at the end? I started crunching the numbers and I realized these properties could generate 12% cash on cash returns yearly with no maintenance burden on the investor and plenty of demand and upside if tenants decide to default. I was overjoyed with excitement! Instead of members walking away with $100k each, they would walk away with 80k and we'd take $20k from each of them.
Now, after 9 months, I had a solid business model and grew my waitlist to 150 and closed the applications. After this happened, I decided I can now go ahead and start looking for the money to fund these deals. I decided crypto would be a great spot to raise money as each deal benefits people and creates REAL value that we could then pass back to coin holders.
I would have an awesome company that rewards me for doing what I love doing anyway and every single person involved would benefit. It's an absolute chef's kiss of a business model. I really truly whole heartedly believe that this project will be big and I know our holders will be delighted to put their money into something that makes sense, is making a difference and that could enrich them in the process. I truly believe this project is special and one of a kind.
Thank you for your support.