Dallas, Texas, December 22, 2020 – – World Series of Golf, Inc. (OTC Pink: WSGF) (“WSGF”) today released a presentation giving updates on the company’s progress toward the production release of its core Vaycaychella peer-2-peer (P2P) application (app) to automate the connection of short-term rental property buyers with investors. The presentation additionally provides updates on other key ancillary applications also being developed by Vaycaychella to support the overall short-term rental property operator (host) ecosystem. The presentation is included in its entirety below:
Vaycaychella P2P Short-Term Rental Property Investment App Update Presentation
The recent Airbnb IPO, and the popularity of other short-term vacation property rental applications like Bookings.com and VRBO owned by Expedia, have revolutionized the travel industry. Airbnb alone has more rooms to rent than Hilton, Marriot, Hyatt, Intercontinental and Wyndham combined. The power of sharing economy technology, like that introduced by Airbnb, that unites a network of strangers into a business with a magnitude that far exceeds the reach of a conventional business operation is not to be underestimated.
And Airbnb, along with its Bookings.com and VRBO peers, is just the tip of the travel industry revolution. Airbnb and its peers are just where property owners meet to exchange a place to stay for a reasonable fee. The Airbnb IPO directs a spotlight on all the ancillary sharing economy technology opportunities that can be added to the travel industry revolution.
The Airbnb operator has to manage the property keeping the lights and the gas turned on; the linens cleaned; the yard tended, and repairs maintained. The operators have to pay property taxes, possibly a mortgage not to mention colleting rental fees and paying sales taxes. All these functions are candidates for being taken over by sharing economy technology.
Before finding renters through Airbnb, or maintaining a property, a property has to be acquired. A prospective property has to be inspected; a loan likely has to be approved; title has to be cleared and transferred and insurance has to be obtained. The conventional means for acquiring a property are restrictive and limit the short-term rental property owner and operator opportunity to a very narrow sector of candidates.
Future Apps To Help Hosts Manage Properties
Vaycacychella’s mission is to substantially widen the short-term rental property owner and operator opportunity to a much wider sector of candidates by simultaneously broadening the investment opportunity to more potential investors.
Conventionally, an income property buyer needs to generally be prepared to have 30% of the purchase price for a target acquisition. They also need to have a predetermined level of income and a certain credit score in order to qualify for a mortgage. These criteria largely stem from government guidelines associated with the various guarantees governments provide to banks to insure their viability. Remember the 2008 government bailout of commercial banks. Since then, the criteria for mortgages has become even more restrictive.
Banks like Wells Fargo and Citibank provide mortgages by leveraging other client’s deposits and government guarantees that are in turn made possible by taxpayer dollars. Why can’t those depositor/taxpayers just make the investment/mortgage directly to the borrower/partner/short-term rental property buyer directly without all the overhead of Wells Fargo, Citibank or the government?
With the advent of sharing economy technology, individuals that otherwise deposit funds with a conventional bank and pay taxes that guarantee the viability of a conventional bank, can now directly invest with a short-term rental property buyer. Opportunities can be evaluated based on the viability of the short-term rental property enterprise rather than arbitrary conventional bank criteria influenced by the government.
Sharing Economy Tech Changes Real Estate Investment Rules – Illustration Chris Gash
Short-term rental property buyers and would-be operators can evaluate with potential investors the return-on-investment opportunity to purchase, if necessary, renovate, and operate a target property independent of the buyer’s current cash reserve and credit rating.
Over the last three years, Vaycaychella has built a pilot portfolio of short-term vacation property rentals. Without exception, all of the properties have either been distressed for one reason or another, or located in a developing economic region – sometimes, the properties have been both distressed and located in a developing economic region. Some properties were hurricane victims in exotic and attractive beach locations. Some were just abandoned for years due to the prevailing economic conditions of the region. One was a COVID economy victim. None of the properties would have been viable conventional mortgage candidates.
Through our own experience, Vaycaychella is building a core P2P app to connect short-term vacation property owners and investors without the conventional limitations of traditional banking. Just as Airbnb, Bookings.com and VRBO cut out the conventional corporate travel agency network and offered an alternative to the limitations of hotels, Vaycaychella is bypassing the traditional banking middleman to directly connect individual investors to real estate secured investment opportunities managed by entrepreneurs the investor can independently evaluate.
Last week on Friday, we met with our software development team. We evaluated testing of the P2P app to date and have directed functionality updates. We anticipate updates to be complete in January and beta testing to commence in February.
WSGF, through its Vaycaychella subsidiary, recently announced plans to introduce a Visa Card service for hosts. We anticipate the pilot Visa Card service being available for our in house hosts by February. After an internal trial period, we will make the Visa Card service available market wide to any short-term rental host.
Look For Vaycaychella Cryptocurrency Survey Coming Soon
WSGF, through its Vaycaychella subsidiary, also announced its intention to integrate a cryptocurrency component of its overall strategy. As a first step toward this end, the company will launch a survey for prospective investors and hosts to garner feedback for input into our cryptocurrency strategy. We plan to launch the survey right after the first of the year in early January.
To learn more and keep up with the latest updates at Vaycaychella, visit https://www.vaycaychella.com/. At the company website, you will find a blog with frequent industry publications on the short-term rental market in general, as well as entries specific to Vaycaychella.
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
William “Bill” Justice