Elon Musk May Be Adding 'Landlord' To His List Of Titles: Here's How To Join Him With As Little As $500

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Tesla Inc. CEO Elon Musk has reportedly bought 6,000 acres of land just outside of Austin where he plans to build his own town and add thousands of jobs to the area, after opening Tesla’s Gigafactory in 2016. Samsung is also building a $17 billion semiconductor facility, further accelerating the area’s growth.

The Texas capital’s real estate prices are following suit, with home appreciation hitting 170% since 2010 — double the national average. With the supply constraints in some parts and increasing demand from the high-earning populace, it looks like Austin homes are going to grow in value even if the broader real estate market takes a hit.

This is great news for those who invest in Austin’s Cityfund. Cityfunds are a way to go bullish on an urban area’s real estate market without taking on the commitment or risk of owning a single unit. Nonaccredited and accredited investors can buy shares of area-specific funds made up of many single-family homes and profit from appreciation realized on sales and rental income.

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Austin’s Cityfunds boasts a portfolio of 30 single-family homes and shares have already appreciated 8.8%. In line with the company’s vision to increase access to real estate gains, the barrier of entry is set to the bare minimum. As little as $500 is enough to own a piece of Austin’s Cityfund.

Nada, the company behind Cityfunds, sidestepped one of the greatest drawbacks of real estate investing — illiquidity. Generally speaking, hold periods of up to 10 years are common for similar securities. But you can sell Cityfunds shares within Nada’s app and instantly pull out your funds and the profits.

"Austin is a fast-growing sector for entrepreneurs to move into, which means there will be lots of new development and potential to benefit from the Cityfund," said one reviewer after acquiring shares of Austin’s Cityfund. Click here to do the same.

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