← 1432 Sara Ave, Akron, Ohio 44305 · All properties

Renovations & Updates - 1432 Sara Ave, Akron, OH 44305 - 2 - 1432 Sara Ave, Akron, Ohio 44305.md

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Property Updates ## 2026-04-06 - Yhome Transition Reconciliation (as of 2026-04-06 via Lofty PM/Yhome Transition Reconciliation.xlsx): · Field · Value · · ------- · ------- · · Yhome Net Due TO DAO · $2,985.00 · · Lofty Operating Cash · $553.50 · · ECO Operating Cash · $-1,502.06 · · Outstanding Liabilities (Unpaid Bills) · $0.00 · · DAO Net Cash (Capital Call) · $-14,977.19 · · Estimated Owners' Equity · $43,680.00 · · DAO Estimated NAV Per Token · $14.72 · · DAO Tokens · 1950 · · Current PM · EC

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# Property Updates

## 2026-04-06

- Yhome Transition Reconciliation (as of 2026-04-06 via Lofty PM/Yhome Transition Reconciliation.xlsx):
| Field | Value |
|-------|-------|
| Yhome Net Due TO DAO | $2,985.00 |
| Lofty Operating Cash | $553.50 |
| ECO Operating Cash | $-1,502.06 |
| Outstanding Liabilities (Unpaid Bills) | $0.00 |
| DAO Net Cash (Capital Call) | $-14,977.19 |
| Estimated Owners' Equity | $43,680.00 |
| DAO Estimated NAV Per Token | $14.72 |
| DAO Tokens | 1950 |
| Current PM | ECO |

# Property Updates

## 2026-01-13

- Property Update (01/13/2026):
- The January 2025 rent that was paying out over 12 months is now complete. 100% of NOI is going towards paying down loan balances and capital calls moving forward.
- Financial Summary:
- Capital Call Loan Balance as of 1/15/26: [($11,762.88)](https://docs.google.com/spreadsheets/d/10Dh2AYWhYPQOkRCSijpvS9ajinvYxFBQlahDWGa19KM/edit?usp=drivesdk) @ 15% compounding monthly.
- Yhome Due to DAO: $2,985
- ECO Operating Cash: [($2,758.36)](https://www.dropbox.com/scl/fi/dee7qbdxrwg7uzcu692b3/ECO-Systems-General-Ledger-2026-01-13-1432-Sara-Ave-Akron-OH-44305.csv?rlkey=z36i34im5p88ncrlkwr4u0bn3&dl=0)
- Lofty OR Cash: $553.50
- Taxes Due: ($1,298.10)
- DAO Net Cash: ($11,992.19)

## 2025-06-06

- Property Update (06/06/2025):
- Governance Results for 1432 Sara Ave:
- The Governance Voting results are back for the owner-proposed governance votes
- The first winning vote is:
- Approve Capital Call of $16,000, backed by EARLDAO.
- This voting option was declared the winner in Round 1 with 385 token votes.
- The voting results can be found on chain [here](https://allo.info/application/3038493687) or by searching the application ID: 3038493687
- The second winning vote is:
- Contribute net funds ($2,985) withheld by Yhome to EARLDAO
- This voting option was declared the winner in Round 1 with 402 token votes.
- The voting results can be found on chain [here](https://allo.info/application/3038498323) or by searching the application ID: 3038498323
- The third winning vote is:
- Migrate to Hemlane (10% PM Fee)
- This voting option received 431 / 456 token votes, which is equal to 94.5% of the total votes.
- The voting results can be found on chain [here](https://allo.info/application/3038493687) or by searching the application ID: 3038501696

## 2025-05-30

- Property Update (05/30/2025):
- Owner-Proposed Governance Vote for 1432 Sara Ave:
- The new owner-elected property manager, Earl Co with ECO Systems LLC, is proposing a governance vote.
- This owner holds 1 token in this property and has the following [wallet address](https://allo.info/account/YILY2YPFH2HODAZSMVJ6C2URUTBJSEPB3377SIKHFCFMGQEEFAJ3E5TYDM)
- The owner's reasoning is below, word-for-word:
- *Because this is an owner proposed vote, Lofty cannot change the content. It’s up to owners to verify the accuracy of the claims below.
- CAPITAL CALL & PROPERTY MANAGEMENT STRUCTURE
- DAO: Lofty Holding 1432 Sara Avenue DAO LLC
- Submitted By: Earl Co, Manager, ECO Systems LLC
- Submission Date: 05/29/2025
- Voting Deadline: 06/04/2025
- Background:
- This proposal seeks DAO approval to issue a capital call to fund the full payoff of outstanding balances owed to Aligned Properties Group in order to complete the transition of property management for 1432 Sara Ave away from Yhome Nursing LLC. Once complete, the property will be fully managed by ECO Systems LLC with Aligned as sub-PM and no further oversight or control from Yhome.
Although a “Yhome Loan” at 6.99% was executed on 1/29/2025, the lender, Yhome Nursing LLC, has officially canceled the loan entirely, and funds were refunded in full by Lofty to Yhome. This leaves Yhome owing the DAO $2,985, currently withheld by Yhome.
- A capital call from the Ecosystems Asset Recovery Lending DAO (EARLDAO) is needed to settle outstanding obligations. Any funds due from Yhome will be lent out to EARLDAO and a promissory note will be held by EARLDAO for benefit of its lenders. NO additional funds will be disbursed to Yhome at this time until Lofty resolves ongoing legal matters. A full reconciliation report is provided here.
- Financial Summary:
- Yhome Total Due to DAO: ($2,985)
- Aligned Net Due from DAO (includes $500 reserve): $1,908.41
- DAO Operating Reserve Cash Available: ($223.94)
- 1432 Sara Avenue Lending DAO Balance: $8,213.19
- Unpaid Taxes: $1,343.43
- DAO Net Cash: -$8,256.09
- Upcoming Expenses:
- Turnover Estimate: $3,729.00
- Insurance Premium (1 year): ~$512.40 (TBD)
- VOTE #1 – CAPITAL CALL OPTIONS (Ranked Choice)
- Option 1 – Approve Capital Call of $16,000, backed by EARLDAO.
- 12% APR, interest-only, 1-year balloon. Non-dilutive. Pays off existing Lending DAO. Repaid from future rents.
- Option 2 – Approve Capital Call of $4,000 backed by EARLDAO to settle balance with Aligned, pay taxes, and secure insurance.
- Turnover repairs not authorized. Property shall remain vacant. Lending DAO remains unpaid.
- Option 3 – List Property for Sale w/ Aligned.
- Authorize Aligned to list and sell the property. Proceeds pay off all debts. Tokens cashed out post-sale.
- Option 4 – Approve Capital Call of $16,000 via issuance of 750 new shares at $22/share.
- Pro-rata offer to DAO members. Dilutive equity. Pays off existing Lending DAO.
- Option 5 – Reject proposal
- No funds approved. Aligned remains unpaid. Repairs not authorized. Property remains vacant and potentially uninsured with overdue taxes.
- VOTE #2 – USE OF YHOME WITHHELD FUNDS (Ranked Choice)
- Option 1 – Contribute net funds ($2,985) withheld by Yhome to EARLDAO
- Authorize the DAO to contribute 100% of its funds (currently withheld by Yhome) to EARLDAO for use as a lending pool, supporting repairs, insurance, and delinquent tax payments for eligible DAOs. Loans backed by promissory notes with 12% APR and 1-year maturity. This vote explicitly authorizes other DAOs to borrow from this DAO, through the EARLDAO structure.
- Option 2 – Request Lofty to execute and deliver Demand Letter to Yhome
- Net funds due to DAO are explicitly NOT authorized to be lent to other DAOs. Lofty shall review and execute a demand letter for these funds as Authorized Representative on behalf of the DAO.
- Option 3 – Reject All Options
- Take no action. Surplus funds shall remain in possession by Yhome, subject to future DAO vote.
- VOTE #3 – PROPERTY MANAGEMENT STRUCTURE (Choose one)
- Option 1 – Stay with Aligned (15% PM Fee)
- PM Fee: 10% to Aligned + 5% to ECO Systems
- Leasing Fee: 1 full month’s rent
- 10% markup on all Repairs & Maintenance
- Option 2 – Migrate to Hemlane (10% PM Fee)
- PM Fee: 10% to ECO Systems only
- Leasing Fee: $695 or 50% of first month’s rent, whichever is greater
- No markup on Repairs & Maintenance
- Self-guided leasing via Hemlane; no rent-ready cost required
- Subject to Hemlane's ability to secure a Local Agent in Charge (LAIC) residing in Cuyahoga or an adjacent county
- The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Tuesday, June 3rd, once the voting period ends.

## 2025-04-24

- Property Update (04/24/2025):
- The previous property manager, Yhome Nursing LLC, provided an update for owners. The property is in the process of migrating to the new owner-elected property manager: ECO Systems LLC.
- "The tenant moved out. They left a lot trash inside and also outside. Formal update will follow soon."
- [Move-out Photos](https://www.dropbox.com/scl/fi/4tdyla2fv9evczznombds/Move-Out-Photos-1432-Sara-Ave-Akron-OH.pdf?rlkey=8xvdxi74iht2k7kkbxw7sjpr4&e=1&st=5v9jfnv5&dl=0)

## 2025-04-21

- Property Update (04/21/2025):
- *Owner-Proposed Governance Results:*
- The Governance Voting results are back for the owner-proposed governance vote to change property management companies to ECO Systems LLC.
- The winning vote is:
- Hire ECO Systems LLC
- This voting option received 580 / 620 votes which is equal to 93.5% of the total votes
- The voting results can be found on chain [here](https://allo.info/application/2944726049) or by searching the application ID: 2944726049
- The migration to the new Property Manager, ECO Systems LLC, will begin right away. The management agreement can be viewed [here](https://drive.google.com/file/d/1wyRR1tAg1qv-cRtjA3oxYWbbdJ3wonaP/view).

## 2025-04-14

- Property Update (04/14/2025):
- *Owner-Proposed Governance Vote:*
- An Owner with the following [wallet address](https://allo.info/account/IVDXNACBOVPKNSOVMCSGMZ43D57JUROBAEKAPEJG3CD627LLTGWR54RE2Q) is proposing a governance vote for this property.
- This owner holds 40 tokens in this property.
- The owner's reasoning is below, word-for-word:
- *Because this is an owner proposed vote, Lofty cannot change the content. It’s up to owners to verify the accuracy of the claims below.
- "I propose we change managers to ECO Systems LLC, which is run by Earl Vanze. As you are aware, our current manager recently proposed a vote where we had no good options, and we ended up picking to grant them 3.5% equity. Many people viewed this as the least bad option, when there was no clear vote to do nothing. Lofty has advised that if we switch managers immediately, then we will not have to give out this equity to Yhome.
This property was performing prior to Yhome taking over, but the operations since then have not been fully disclosed. Additionally, Yhome had provided a loan with fees that were not disclosed to the DAO owners ahead of time. They have since agreed to cancel those fees at Earl's urging, but the fact that it was done initially is unacceptable. This lack of transparency, along with the forced equity are the main reasons I believe we should switch managers.
- The reason I would like us to choose ECO Systems LLC is that Earl has been a fantastic manager and co-owner for several properties on Lofty. He provides more transparency and responsiveness than any other manager on the platform that I'm aware of. He also has a track record of making money with properties that are less than ideal. If you need some good examples of his performance and level of disclosure, please take a look at the Madison Ave properties in Albany.
- In the spirit of being fully transparent, and providing the details of the deal upfront, Earl has provided a copy of his proposed management agreement. His terms are significantly more affordable than the current Yhome agreement. I've pasted his link here:
- https://drive.google.com/file/d/1wyRR1tAg1qv-cRtjA3oxYWbbdJ3wonaP/view?usp=sharing
- Finally, Earl already owns tokens in this particular property, and has for a while. He has a personal financial interest in seeing it succeed.
- Voting Options:
- 1. Hire ECO Systems LLC
- 2. Do nothing"
- The results will be determined by a 60% Supermajority via the Ranked Choice Voting method and sent to all owners on Monday, April 21st once the voting period ends.

## 2025-04-12

- Property Update (04/12/2025):
- The property manager provided an update regarding the tenant's notice to vacate, as outlined in the [attached document](https://www.dropbox.com/scl/fi/ya5h51d5m0avv4hu438c1/NTV-1432-Sara-Ave-Akron-OH-44305.pdf?rlkey=umbxkwglxlx4ukrfsfb8w8e9a&e=1&st=clsp2fej&dl=0).
- The tenant was scheduled to vacate the home on April 11, 2025.
- The PM will follow up with further updates.

## 2025-04-01

- Property Update (04/01/2025):
- Note from PM:
- "Dear investors, i would like yo inform you that the tenant at 1432 sara ave have submitted their request to move out.
- Move date is 4/4/25. A formal letter will be sent soon."
- The tenants lease is set to expire on 4/10/25.
- The tenant has a security deposit of $850.

## 2025-01-20

- Property Update (01/20/2025):
- The new owner-elected property manager, Cal with Yhome Nursing LLC, provided the following update:
- Dear Investors,
- I am pleased to update you on the Profit First system implementation for 1432 Sara Ave. This property was already rented upon acquisition, and the transition period was successfully completed