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(L-R) Actor Will Smith and rap artist Jay Z attend the 2004 NBA All-Star Game held at the Staples Center, February 15, 2004 in Los Angeles, California.
(Photo by Frank Micelotta/Getty Images)

Jay-Z & Will Smith Invest In A Company Aimed To Help People w/ Low Incomes Go From Renter To Home Owner 

This is incredible!

Jay-Z and Will Smith made a MAJOR move!

As reported on sources, the two megastars are investing in a company aiming to help people with low incomes go from a renter to a homeowner. The company ultimately helps people build their credit.

It’s called Landis Technologies, which is a start-up. So far, it raised $165 million and will use that money to purchase at least 1,000 homes, the article reports. 

Bloomberg reports Landis Technologies purchases homes and rents them to the client until they can qualify for a mortgage. The client can repurchase it at a predetermined price up to two years after the initial acquisition. The company also offers financial literacy for its clients. 

Co-founder Cyril Berdugo said, “Financial inclusion is really important to us. An aspect of Landis that we’re very proud to be a part of is wealth creation for low-income Americans. We make money when our client [repurchases the house]. If we leave money on the table, that’s our problem.”

Landis Technologies hopes to convert 80 percent of clients from renters to buyers in the near future.

Via

 

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