Real Estate CityHouse Project (RECH) — 27/9/2019 Q&A Transcript with RECH Founders — Athanasios Papadopoulos -Dimitris Lagios — Vasileiadis Odysseas
Athanasios Papadopoulos: Hi, RECH team is ready to answer your own questions!
Let’s start!!!
Q: Please introduce each member and their expertise
Odysseas Vasileiadis (odma) : I am Odysseas Vasileiadis , i m founder of RECH Project i will be in charge of every crypto related aspect of the Project . Also i ll be in charge with Thanasis with the Real Estate and Airbnb business.
Athanasios Papadopoulos :Μy name is Athanasios Papadopoulos i am one of the founders and CEO of the RECH project.
My main job is in real estate, in Airbnb Listing.
Μe and my team will be responsible for the expansion of real estate office
Dimitris Lagios :Hello, my name is Dimitris Lagios.
I’m lead developer in rech project. Me and my team, we will work on all parts that needed tech support.
As you can see in my LinkedIn i work as developer more than 6 years.
Q: Thank you for the introduction. Once the softcap is met, may i ask how the raise may be used to further progress the RECH project.
Odysseas Vasileiadis : Its been explained in detail on the whitepaper as well … How the funds will be used after the success of the ICO.
Q: And one last question from me, what returns can an investor expect roughly in year 1, 2 and 3. How long would you expect to break even. Thank you.
Athanasios Papadopoulos: The Μinimum expected ROI (annualy) will be around 20% for 2020, 30+% for the 2021. This ROI it is with out to calculate a BIG house property sale($1,000,000)
Q: Will the fund allocation % remain the same if just soft-cap is met or will it be adjusted and items put into later phase implementations?
Odysseas Vasileiadis: The first thought was if just the softcap is met to exclude the bushouse , treehouses and icamps from the roadmap and with that amount to boost all the other services.
Athanasios Papadopoulos : The next idea that we are discussing with the team and we want the opinion of the community is …the ICO funds that wont be sold , to remain to a seperate wallet that will receive monthly distribution . The monthly distribution that the wallet will get it will be exchanged with RECH tokens and it will be redistributed proportionally to all RECH holders.
For example lets say that the wallet receive 100,000 TN … All the users that hold RECH will get an amount of RECH equal to 100,000 TN…
Q: Right might be smart to capitalize on most productive aspects
And then expend once in profit
Appart from holding your company shares for the investors as a $TN token and making monthly payouts to holders
Are their any other products that will be producing transactions on the TurtleNetwork?
Dimitris Lagios : Our site, as booking type, they will accept crypto payments and one of first currencies will be the Turtle.Also one of the first moves will be to intergrate Turtle Ad Network on our dashboard to try to give as much exposure as we can .
Q: I might suggest burning unsold ico tokens once softcap is met. Just my opinion.
Athanasios Papadopoulos : The second case is a way to get hold of the hardcap. So that they can be made the Treehouses, Bus Houses e.t.c.
Odysseas Vasileiadis : Yeah we are just trying to find a way to complete whole roadmap even with the 75k funding . I mean we really want to do the bushouses , icamps and treehouses. But we listen to the community and we will act according to what you guys prefer
Q: How are you guys planning to market services effectively , you have a biggish team that seem to know the market well.All of them, Airbnb advertises itself I guess but the others.
Dimitris Lagios : The demand on Real Estate Property here in Greece is really huge. We already have more job that we can afford at this level . The marketing is a MUST for every service that we will create/work thats the reason a good % of the money will be used to that direction ( Google Adwords , Twitter , Facebook , Instagram , Youtube ). The marketing will be on every direction possible
Q: What do you guys plan to do with all the funding once the ico is complete? Sell them immediately for fiat or consolidate them into 1 crypto or keep them?
Athanasios Papadopoulos : Immediately at fiat. Τhe work is big enough with big spades. We would never want to risk it! And that’s the reason we only accepted 1,500,000 TN
Q: You guys have a solid team, as long as you all work together, especially through the first year success will be around the corner.
Athanasios Papadopoulos : Τhe whole team is in harmony and they all have a goal to achieve this project. It is something unique in Greece with huge prospects for growth.
Odysseas Vasileiadis : The project has really huge potential on being something BIG and we must really work fast to be prepared and organized for the summer comming.
Q:Are you guys prepped and ready-to-rumble post ico with bringing in business — what steps you folks taken so far?
Athanasios Papadopoulos : Of course we are ready, it is noteworthy that the fund is requested for the development and growth of the company, after having successfully tried this model on a smaller scale and established its unparalleled performance.
Dimitris Lagios : We are more than ready to start working . We have thought in detail every move needed , just a bit sad that the ICO is still at 30% .
But we are optimistic that we will get on softcap in the end 😊😊
In addition i want to say that everything that have been presented on whitepaper (programming wise) is being already in development and testing mode .
Q: No room for fund miss management and investors ico shares diluted to percentage of initial value in start up contribution…Also for the ico? Have you done everything possible to reach a broader audience outside TN/waves communities?
Athanasios Papadopoulos : These are the two options we have thought of so far. for this reason we announced them and asked for the opinion of the investor…Outside of the community TN/waves it is difficult to promote the project. because not all social media allow advertising
Q: All ico listings sites have received your registration? This is a great project and I’m sure it could find funding outside the usual suspects.
But soft cap is very do able.
Odysseas Vasileiadis : Yeah we have registered on the most ico listing sites . But the more attractive one is at the icobench .
Q: Is there still any room to invest some HN for RECH? I don’t believe so , but if that changes lmk!
Odysseas Vasileiadis : Unfortunatelly … Available deposit options will only be BTC , ETH and Waves
Q: Which segments of RECH do you expect to be the most profitable in the first 2 years?
Athanasios Papadopoulos : Immediate profit we have for real estate, airbnb listing and travel guide.Οf course we have to mention that two of the biggest parts of the project is Treehouse e.t.c. and Booking website with crypto intergration.
When complete they will have a steady profit for all investors for life time.
Finally I’ll give you an example at this moment the one scrolling light box it brings in time as revenue €10,000(per year)(turnover).
Odysseas Vasileiadis: That will be the top services for instant fiat money and this services will keep the distributions high from the start
Q: I still have not place my contribution as well….Market conditions aren’t ideal so effecting how much I would actually like to contribute…Might help very slightly towards your softcap goal 😆
Odysseas Vasileiadis : yeah we know that 😞 . The bloodpath is not good for ICOs thats true
Q: Not sure if it’s mentioned but what currency will profits be paid in(distributions)?
Athanasios Papadopoulos : Our plan is the distributions to be with TN that they will be bought for Turtle Dex(Fiat->Waves->TN)
Q:Yeah the payment is the tricky part, lots of slippage from fiat to Waves to TN, then investor from TN to BTC (mainly) to bank account — BTC will always be be stronger base currency to pay back from Fiat directly
Odysseas Vasileiadis : Indeed it is tricky . We will try to absorb all the “damage” from the fees . Also we can make a poll each month in our RECH Dashboard where the RECH investors can decide in what currency they want their profits. We are considering that as well.
Q: Yeah sure, value back to investor needs to be understood in real terms during ICO at least, I think if investors knew payouts would be in BTC they might be more interested to invest.
The reason I favor Btc is: Base and strongest crypto currency, liquid, less slippage, use any service once received incl moving into TN or waves. So Fiat to BTC is better than Fiat to Waves to TN imo
Odysseas Vasileiadis : You are totally right. Questions and Answer give you the chance to listen to the community and improve your Project.
Herb : Another reason is that marketing would come naturally since the point of attraction would be BTC revenues which will appeal to ALL crypto ecosystem.
Secondly, it will attract more attention to TurtleNetwork as well since investors will have the option to use DEX for trading or cashing out = win/win for node operators and lessors alike
Q: Hi team we have a really nice project here. If soft cap not arrive, is there a possibility to run the project with less branches?
Odysseas Vasileiadis : We are exteding a bit the Q&A because our friends from USA just woke up 😉😉
Odysseas Vasileiadis : Alex we decided that if the softcap doesnt met . The 3 companies (e-social , valkom and cityhouse) will run the Project outside blockchain with our own funds . Of course in a very lower scale and with lower budget. Thats the plan B unfortunatelly.
Plan C will to be partner with FUND that have already approach us and they want the 45% of our offices (but outside crypto) and it is something that we declined for the time being.
Q: You use Waves or TN , Chain ?
Dimitrios Lagios : TurtleNetwork
Q: Amazing info and clarifications.Lets go for plan #1, successful Turtle Network crowdfunded start up!
Athanasios Papadopoulos : We would like to have a successful Turtle Network crowdfunded
Odysseas Vasileiadis : We want that as well!
Q: Could you guys do promotion on social media?Or like local newspaper…Or like cryptocompare
Athanasios Papadopoulos : We can not do it advs in social media.
We can not do it advs in newspaper because in Patras, Greece only few people know what it is the cryptocurrency.
Q: Hello RECH team. Some questions if I may. 1. The iDea of treehouses is “sexy” but rather unknown in Greece. What makes you believe there is a market for it? 2. It is unclear for me whether RECH coin will be tradable or not. 3. Has the team committed any own funds in the project or the ICO is the sole pool of funds? 4. Is there any MoU done between the participating partners? Is there a chance that someone (especially key member) just decides to leave the project in e.g 6 months and what is the plan for that case?
Athanasios Papadopoulos : 1)Hi, the idea of treehouses, icamp etc it’s work in Greece very well
Because we are in Greece we work with tourism.
2)of course RECH COIN has be tradable. Investors have opportunity to make profit untill to go holidays and book hotel with cryptocurrency in ours platform
Odysseas Vasileiadis : There is 4–5 places that offer accomodation in treehouses in Greece and there were no available dates for whole summer.It will be traded on Turtle DEX if this was your answer.
Athanasios Padapopoulos : What kind of MoU you would like. Like a contract(RECH PROJECT AND INVESTOR);
Q: Regarding plan B why set a soft cap instead of pro rating the investment from the community against personal investments into the company or treat yourselves like external investors?It seems like a combination of plan A and B would be the most effective method to go forward even if you compare it to either option individually.
Athanasios Papadopoulos : Plan b is the plan we will try to develop on our own.
This plan takes several years to achieve
Lastly, throughout this project we would like to support the community because we believe it can help implement our ideas.Let me tell you that for each plan at this moment a different investment and development model has been studied
Τhe initial plan for us is A.
Τhat is what we want and that we believe in!
Q: Where we can buy RECH tokens ?
Athanasios Papadopoulos : Hi,
Website: https://www.rechus.com/
Buy token: https://docs.google.com/forms/d/11iaysMifuGmMG3GaobsP6Ixmtqk1zMNBtduaK4GTfqg/viewform?edit_requested=true
Q: I am happy to hear that I just want to verify whether there seems to be a market for such type of innovative lodgements. Have you checked the legal issues with such buildings? Permits?
Your success depends on the cooperation of a rather large team. I understand there is no holding company just a team of three other companies. What is binding all these entities together? Some draft agreement? An MoU? Some legal entity (e.g. a company)? Or is there a plan to develop such structure?
Odysseas Vasileiadis : Of course . Everything has been checked with our Civil Engineer Georgios Fadel . The most tricky is the treehouses for many reasons but it’s something doable if you have enough resources .
Athanasios Papadopoulos : To begin with, I would like to say that since the project is seeking cryptocurrency financing, there is no contract.
Τhe reason is that there is no law in greece that recognizes cryptocurrencies.
But let me tell you that in the past, three out of the three people who will be the key project managers have a contract.
Lawyer’s contract as well as any other legal proceedings and the reason is that we are perfectly legal because companies have their headquarters.
Whenever we declare our expenses to the state to pay our taxes on every business.
Τhis would not be possible without a Contract.
Finally if you do not know i will refer you to read what it is Business accommodation(that in order to do this in Greece it would be necessary for all interested companies and the owner of the property to sign and accept their own policy.)
(if we do not have a contract between us we can never rent an office. we are not allowed by the laws of greece)
For any questions i will be glad to see your question!
Q&A Session over
Website: www.rechus.com
BTC ann : https://bitcointalk.org/index.php?topic=5183547.0
Twitter : https://twitter.com/CityRech
Telegram : https://t.me/rechus_project
Facebook : https://www.facebook.com/RE-City-House-101438874571888/
TurtleNetwork : https://client.turtlenetwork.eu/
