I recently wrote about my idea to create a crowdfunding mortgage for myself because regular models do not work for a single starter. I researched the existing crowdfunding models and quickly came to the conclusion that they are not suitable for my idea. At the same time, I did come up with something new that can help a little.
The fact that existing crowdfunding platforms do not work for this mainly has to do with the fact that not only a percentage of costs is charged per transaction, but also a fixed amount. My idea of everyone lending me 1 euro – an accessible amount that I would lend out myself easily – is not gonna fly. Can you do the math? To keep it simple, I will assume that I manage to borrow 1 euro from 350,000 people. With that, I have this in costs at the most well-known platform GoFundMe:
350,000 x 2.9% = 10,150 euros
350,000 x 0.25 euros fixed costs = 87,500 euros
And then still the interest on the entire amount. And yes, if you ask for a higher amount per person, you have less costs in total, but that would also destroy the accessibility of my idea. I think that far fewer people are ready to lend out 50 or 100 euros, for example. And I feel it’s stupid that so many costs go to the platform while I just want to pay interest to the people who help me, as I wrote in my original idea; 3.5%. If I were to continue this idea in this way, I would even spend more than at a bank. And this calculation example is still based on one of the cheapest platforms.
Tips
I also received some kind tips such as experiences with crowdfunding platforms, ideas to automate repayments (a must with 350,000 people) and kind private messages from people who said they wanted to lend me more than 1 euro or even donate. Honestly, I just want to buy a house with a loan like so many others, I’m not here to beg for a house. And that also shouldn’t be necessary because I have a fair job.
Yet just having a job plus some savings is no longer enough to buy a house in the Netherlands. You have to be a surgeon, married to a lawyer, have 100,000 euros of your own money and be at the speed of light to outbid when a house comes on the market.
And no, I still haven’t been able to find a rich guy and honestly – and now pay attention Hugo de J – I also really think that people who want to buy a house alone for whatever reason at some point, should be able to do so. Without a rich guy. Independence should remain an option.
Solution
Writing this I don’t think I have the perfect solution to this problem now. But I do have a symbolic idea to get a little further. Suggested by many who send me ideas in this process: open a Tikkie. Now, that’s a nice idea but there is a ‘but’, a big ‘but’. I don’t have the illusion that I will get the minimum amount for a house with a garden by publishing a Tikkie. But let’s say a miracle happens and I manage to collect 20,000 euros with a Tikkie, I will have two new problems. Namely that the bank sees this amount as a debt and therefore a payment obligation that they will deduct from my mortgage amount. So that is of no use to me.
As I wrote earlier, I have to get everything from one source (read: bank or something other than the bank). In addition, Tikkie accepts a maximum of 2,500 euros per Tikkie. So even if I were to be successful with this, I would have to continuously replace them with new Tikkies and I don’t think that can be automated yet.
That being said: I think it is mainly of symbolic value to use a Tikkie in this process. And I also want to use the money I raise to express something creative in the house that I hope one will be reality. Something of community spirit that reminds me every day that more people than myself made my house possible. That makes that euro worth a lot more for the rest of my life.
So, if you like the idea, choose below whether you want to help me with 1 euro or with an amount of your choice. I still believe that I want to pay people back, but in order not to make it a loan for the bank, it has to be a gift. Still, I have come up with a solution for this too: I can always give a gift back 😉 And I tested it: if you send me an amount via Tikkie, I have the option to send you a gift at a later time of your choosing.
Tikkie for 1 euro:
https://tikkie.me/pay/p6sontb93tduqr5r00p6
Open Tikkie:
https://tikkie.me/pay/sr4h6h4eofjugn0dn5e2
To be continued … 😉
