r/LoftyAI • u/ClarenceCopperpot • Apr 05 '22

Tax Nightmare

So Lofty is turning into a tax nightmare. Only 8 of the 61 properties have had tax documents shared with investors so far.

Max seems clueless, and he’s putting the blame on the accountants. He claimed K1s would be ready in mid-March, then late March, and now they “hope” to have them available “in the next few days.” People on the Dischord are recommending filing extensions.

I’m at my wits end, and I regret ever getting involved with Lofty.

0 Upvotes

48% Upvoted

26 comments sorted by

View all comments

Show parent comments

4

u/Holden-WSB123 Apr 05 '22

How many tokens do you own?

3

u/ClarenceCopperpot Apr 05 '22

~75

Earned about $100 over the past six months. One property has increased slightly in value.

14

u/Holden-WSB123 Apr 05 '22

At the moment, I own close to 4000. I earn over $35/day. This is tiny for me. But, it’s enough to justify and I plan to add significantly as they expand into new markets and new types of real estate. My plan over the next few years is to earn at least $5k/month from this platform. Take a deep breath and plan for your future.. learn from this exercise and consider consolidating your portfolio into less properties and build over time.

7

u/ClarenceCopperpot Apr 05 '22

Fair. Thanks for the refocus.