Bitcoin Forum

Hello, community!

Thought will initiate a topic for real estate investments and get your feedback.

We are currently working on facilitating crypto investments in Dubai, UAE where we accept crypto (ideally stable coins, but all other cryptos as well) and issue a so-called - manager's cheque in fiat (like an escrow account). So the buyer can pay crypto and the seller receive fiat. This also works for cars, motorcycles, houses, planes, etc.

Should we concentrate on the optimization of the manager's cheque process? Or look into tokenization perspective right away (it's not regulated yet...).

Looking forward to your feedback and comments!

Donny from Dubai!

To start, can you make it a bit simpler? Some questions that might help.

1- What do you mean by facilitating investments? Do you work as a broker or a real estate agent? Or maybe as a middleman?
2- You accept crypto (all the others?!) for what and where will you store them?
3- Can the seller receive crypto as well?
4- How you will choose who will act as the escrow for such deals?
5- Any transparency to all of this? How can someone check if eg. the property or the car that wants to buy is the one that he sees and chooses?

Thanks for the speedy reply!

To answer your questions:

1 - I'm more of the middle man, but also work directly with developers (no brokerage needed, have good relationships). For the secondary market (older apartments from owners) we need to use a broker that represents a seller. So investment facilitation - take care of everything with or without brokerage firm.
2 - We prefer stable coins, but if you send any other crypto, we convert into a stable coin. We then issue a manager's cheque, so we act as an "escrow account". A business in UAE has fiat currency in a bank and we issue a cheque for the value of the property and this amount is then "frozen" on the bank account. It's like a regular check you would get from someone, you bring it to the bank, bank takes it and adds money to your account.
3 - The seller can also receive crypto. It's not very common here in UAE, thus many sellers still prefer fiat currency
4 - So we have businesses in UAE and this is where the manager's cheque is issued. We normally receive 5% deposit, issue a manager's cheque and show it to the buyer as a confirmation (could be a picture, video, over a video call, etc.). Then the buyer sends the full amount and we hand over the cheque to the buyer or entitled person that will bring to the property registration office
5 - If you buy directly from the developer - you have all the information from the developer about the property including the reservation, virtual tours, exposes, etc. For secondary market (owned apartments) there's always a broker who takes care of showing the apartment before purchase, either in-person or virtually.

hope this helps!

I think you should go with the former.

I believe you still haven't fully addressed condoras's concern in regards to the above numbers.
^{- The manner in which you'll be keeping the cryptocurrencies [a safety concern].}

I'm a bit confused with this part. From what I've understood about the manager's cheque on the internet, only the buyer should be the one to issue it, then you should hold it until everything is finalized and at the end, hand it over to the seller but that wasn't the case when I interpreted your response!

1. Like what you have explained, it seems that is the basic goal of your company, so it should be the main discussion of the topic you create no matter whether the topic is about tokenization. Do you have a document like a whitepaper?

2. What do you want to offer in tokenization? Do existing cryptocurrencies not meet your company's operational requirements? How about considering the footprint of existing well-known companies where they first increase brand visibility and exposure.

---

To be honest I'm not a developer advisor, and I don't recommend seeking development advice from external sources that can't be adapted to actual field conditions. If you want tokenization (related to ICO announcements), you have to move or create a separate thread in the tokens (altcoins) (https://bitcointalk.org/index.php?board=240.0) section.

Isn't the manager's check would just be an ordinary account that can issue checks? Basically a checking account? And from there, fill it up with Fiat and those corresponding crypto amount would be and should be the amount in there? Basically, since you are the middleman, you are like Binance facilitating P2P transactions within people, right?

I also live near Dubai, the industrial area has accepted cryptocurrency payments but the adoption is still not wide and any brokerage in conducting transactions is considered money laundering. Generally do you have a registration number? A business or anything that can help us verify the credibility of your claims?
How will the refund process be done? And what is the source of the money you will pay, as the government does not accept payments in cryptocurrencies.

1- "With or without a brokerage firm". Do you understand the huge difference between with and without? Let's take the "without" path because if you can have a brokerage firm to cover you (and the investors/ sellers/ buyers), then you wouldn't post here. Relationships don't keep up with business, so without contracts and agreements on paper.
So in fact, you want to get the funds from both parties and run the show. And why does anyone just trusts you? Do you even know the commission that a broker wants?
2- Where will you convert them? In which exchange and under which name/ account? Why to converted in a "stable" coin and not in fiat asap? Issuing a cheque means that you own the account or you are linked with it. Because you mention regular cheque but you forget to mention that in order to get paid, the account must have the proper amount and to be clean. You will guaranty this? Because bank won't (and of course will not freeze anything). Btw, how the seller will get his money? You will give him USDT? Where will you exchange them?
3- But it's common there in UAE to receive money from an unknown and unregistered online seller who sells their properties without anything on hand?
4- Just lol! Who will verify that these doxs will be original? And under what licence you will collect personal info? In simpler words, who will "check" you out?
5- Same with 4. A virtual tour from an unknown, unregister, unlicensed wannabe guy... And the simple question is this: Why does someone uses you and not doing it by himself? After all, he will have to be there and he will know how to exchange his crypto! :D

P.S: Of course SFR10 is right, you still don't answer about the holding safety of cryptos but actually, we don't need to get an answer for it. The whole "project" it stinks bs...

1 - well so far we do everything with the broker, but let's say you have a friend selling a property, but you might want to get a better brokerage fee, so we can use our licensed broker partners. You cannot simply just buy a property without a broker. Cars you can buy from the seller directly. And agreements are also available.
2 - Exchanges with the company account. We normally receive crypto and issue a Manager's Cheque for our client (the buyer) that is then cleared in fiat. So seller receives fiat.
3 - this I cannot comment on, all transactions are reported in Dubai Land Department.
4 - agreements are available as well
5 - good luck exchanging crypto into a manager's cheque :)

I'm asking for feedback, if you have input on how to do it better, happy to learn more!

1- I don't know there if it's mandatory to use a broker but here, yes you can buy a property without a broker.
2- My question was in which exchange do you have an account.
3+ 4- Without any kind of solid proof, these are simple words in the air... :-\
5- No need to. Besides, you can as you said so all good. ::)

MasterlawCoin

Nose como se ocupa esto de BitcoinTalk... En fin... https://masterlawcoin.space
los desarrolladores se encuentran realizando actividades inmobiliarias al mismo tiempo aprendiendo del tema crypto, no tenemos apuros, nosotros acostumbramos a proyectos de 1 a 5 años (somos renta fija (estabilidad, tranquilidad, seguridad), comprendemos que existen muchas estafas y malos usos para las crypto (renta variable (inestabilidad, locura, panico).
https://www.linkedin.com/in/sebasti%C3%A1n-campos-rojas-masterlaw ese soy yo, el que esta escribiendo ahora... :D

MasterlawCoin - just checked their website, wouldn't invest a penny in them. Team members are not even on LinkedIn, profile images are stock images (just Google the images)....

In my opinion, it is more developmental and much easier to understand for new users to tokenize the project. I don't know what the regulatory situation in Dubai looks like, but in Germany the case is very advanced. According to the official information of UnitedCrowd, in March next year, tokenized projects will be registered at the digital stock exchange in Stuttgart (6th stock exchange in Europe).
They already sign contract with Real Estate to tokenize their project.
More info about that you can find on their website: https://unitedcrowd.com/

IMHO, focus first with the process rather than the tokenization. You can easily do the tokenization once your process is already built and stable. Whilst for the tokenization, you can inform your users or customers that you have to adjust as there's another development coming from your team and that's the tokenization.

i apologize, i have my own words that i have followed some dubai and arabic companies in real estate company, as far as i know this kind of company is long term or long term investment, i follow real estate bounty and invest in real estate company never succeed, and it comes from dubai and arabic. but I don't call your company a fraudulent investment. This is just my story, that I have never benefited from real estate originating from Dubai and Arabia. I always lose, lose and lose.

as far as I remember there have been several attempts of this type (crypto in real estate).
I suggest you check here https://realt.co ^{as far as I know, they are completely legal without any scam charges} quite worked out job, maybe you can get some ideas on how to realize it yourself.

It's a thing in the country already. There are widely crypto use as payment as well aside from bitcoin and ethereum. People just need to choose escrow company to handle and okay for crypto transaction with the buyer/seller.

And you ideally need to be in Dubai / UAE if you want to invest in those properties and real estate. Using crypto for real estate is a good option but don't trust anyone if he ask for the real estate investment in dubai virtually online. You need to be on site to see for yourself that you are not being trapped for a fraud. Since crypto transactions are irreversible, you should be extra careful.

I saw some websites that are selling real estate for crypto across the world. We already have that option it seems.

Don't see this in my country and I'm skeptical about such offer especially when the deal happened online and no physical signing up of papers will happen. And mostly real estate industry accept fiat since this is what the traditional way for completing the deals. Anyways hopefully we can see this acceptance on Real estate scene became widespread since if crypto will really successfully inserted for sure this will create another level of demand and trust for bitcoin.

Last year I decided to invest in Real Estate Investment Trust (REIT), and I'm happy that I took the risk. REITs are investments that provide a total return. They usually provide significant dividends and have a reasonable chance of long-term financial appreciation. REIT stocks have long-term total returns comparable to value equities and higher than lower-risk bonds.REITs are also a good way for beginner real estate investors to gain some experience with the industry. I took all my information from this platform playlouder.com (https://www.playlouder.com/fundrise-vs-diversyfund-vs-crowdstreet/). You should check it to get a better picture of this.

First that you are able to deal in crypto publicly because crypto is legally accepted in united arab emirates. Not many people are able to enjoy this privilege.
Secondly, i will ask you do to do experiments with two things. First instead of using stable coins, use only bitcoins for transactions. Secondly, why not stop issue manager check in fiat but pay them in bitcoins. This will make your real estate company purely crypto based.

now there are a lot of businesses that use digital currency trading, buying and selling businesses, clothing, goods and services, real eastate is also very good, there are many big real eastate companies in several countries that accept crypto as a payment and investment tool,

Dubai looks like the perfect hub for crypto people.... Tax friendly.... bunch of crypto projects.... Big crypto community... Defiantly considering moving there





_______________________________________________________________________________ ______________________________________________________________

Dubai is a new generation crypto investment because many big blockchain event provided from dubai but i hope that it's a good opportunity focus on the investors.

Now Portugal goes to the right direction! Selling real estate for crypto is 100% legal there