My company "Smart Property Investments" (which is in the process of incorporation) is working on bringing legal, safe property investment to the bitcoin world.


I would love to receive any input (good or bad).

A link to our security is in my signature

main post has been updated to reflect our current progress.

agreed, collateral loans are highly valued in btcjam, your reputation doesn't matter as much when there's shares on the line for you.

We will as soon as we file incorporation papers, which should be no later than next week, the main post has been changed to reflect this, thanks for pointing that out.

main post has been edited and thread is now locked, the company has been launched
https://bitcointalk.org/index.php?topic=252474.0

reserved for legal

reserved for shareholder security and trading

First Property and Preferred Units

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For the investment into the first property, all mutual fund units will be given the "preferred" status.
As the first property bares the largest risk, there are a number of privileges that preferred unit-holders will receive.

• The ability to vote unhindered in every property purchase, rennovations, property sale and other major uses of fund's assets.
• A reduced fee structure (40% off of purchase fees and trading fees indefinitely)
• The ability to vote for a preferred unit-holder representative to sit on our board of directors

Investment for the first property will be done manually, pm me if you're interested, however if you think of further questions please post in this thread, as I will answer it and add it to the FAQ for all to see.

Investment Details

When you purchase a unit of our fund, you will be giving us equity we can use to finance additional property purchases, which will then produce income via rent and property sales.

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There will be a 3% fund management fee on the purchase of each unit of S P Trust, as well as a 2% annual fee charged on the netAsset Value (NAV)  of the fund which will be incorporated into monthly gross income, or 0.166% of the fund's net assets per month.

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When you would like to sell your unit(s), you will contact us, we will then match your sale with that of a buyer, and then facilitate a consignment transaction. This is to preserve the private status of our REIT, as conventional exchange type systems (aka bitfunder) would require us to form as a publicly traded company, which is cost prohibitive for us.

The maintenance/environmental costs will be factored into the down-payment of a property and pooled into a maintenance pool, this is a common structure for conventional REITs and we see no reason to alter that arrangement.

Q&A (if you asked a question and I answered it, I'll probably put it here)

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Q: How can I trust you?
A: Trust is a funny thing on the internet, it’s extremely challenging to prove that you are who you say you
are, and prove that you will do exactly what you say you will do.
Using our permanent block chain/p2p shareholder contract protocol we remove the potential that we
may have to commit fraud, while allowing our shareholders to trade shares without counterparty risk.

We also will be a regulated investment in canada, which means that if we screw up, you can sue us, no funny business.

Q: Who are you?

A: The management team consists of two individuals, myself and my partner Devin.
I'm a long time Bitcoin investor (March 2011 is when I first started using Bitcoin and getting interested in the technology), with experience in new technology development.

Devin has over 5 years’ experience as a property manager of several local rental
properties, founder of several business ventures and is experienced in portfolio management.

Q:What kind of funding do you have or are you capable of raising or have access to?

A:We're currently in communication with a number of angel investors to secure funding for all the necessary legal/accounting fees required to set up this corporation.

Q:Where will you be purchasing?
Will you be only purchasing in canada? Will you only be purchasing in locations that you are physically near?
What will you be purchasing?

A:Initially investsments will be in multi-unit residential properties (apartments) local to us, and in Canada. These types of properties best utilize our experience and contacts. In the long term we don't see expansion into other locales and types of income properties to be an obstacle, however initially we will obviously try and manage properties close enough so we don't have to move.
Exiting the Canadian and investing globally is one direction we are thinking about persuing, more on this will come at a later date.

Q:Will you be renting, leasing or selling these properties or a combination of all 3?

A: We will be primarily purchasing, renting, rennovating, and selling, the unitholder of each investment has the right to vote on what happens to their investments, you decide when to sell, we provide monthly reports on exactly how the current real estate environment is doing and what it means for your investment.

Q:Will the REIT be publicly traded and listed on an exchange? BitFunder, BTCT.CO, TSE(Candian Stock Exchange), CNSX etc, etc.

A:As this is a mutual fund style investment, there won't be any need for a conventional exchange, however we're completely fine with Passthrough (as long as their ok'd by me, I don't want our company getting a bad rep for a scam PT)

Smart Property Trust
In this document, “SPT”, “SPT Inc.”, “Smart Property Trust”, “the company”, “us”, “we”, and “our” relate to Smart Property Trust Inc. of New York,USA.

Unless explicitly otherwise stated, posts by the forum user “Badbitcoin (James Sutton)” outside this
thread express personal views and opinions not the views of the company.

The terms “GPG signature”, “GPG signed” relates to the GNU privacy guard technology
http://www.gnupg.org/

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This document is not yet in its final form, and is not legally binding. When it is, this section will be edited and digitally signed using GPG authentication.


EDIT JULY 9th, 2013: We have recieved the green light for maintaining the anonymity of bitcoin investors, while allowing us to be a regulated Real Estate Investment Trust (REIT) in the USA.
EDIT JULY 10th, 2013: Due to issues involving the requirement of a significant portion of our fund being constituted of canadian investors, we won't be filing as an REIT in canada, however the current plan is to file one in New York, USA as a foreign company.
EDIT July 11th, 2013: We're currently in talks with Nesenoff & Miltenburg LLP (Marco Santori's firm) over REIT incorporation, we're meeting with a local commercial investment advisor tomorrow afternoon. Once the legal hurdles are out of the way, the remainder of this securities prospectus will be released.
EDIT July 18th, 2013: Most of our legal questions have been answered and we have solutions to all of our problems, we're currently securing angel investment to pay the legal/accounting fees required to organize this corporation, the business model of our investment will be updated below this evening.
What we are
The Canadian Real Estate Market is one of the strongest investment markets in the world, (for further information http://www.deloitte.com/assets/Dcom-Canada/Local%20Assets/Documents/REITGuide2%281%29.pdf)
Initially we will be investing in Canadian based multi-unit residential properties, however as we further develop we will diversify into multiple property developments.
Now this may not be the most aggressive bitcoin investment, we are however legally regulated by the Nova Scotia Securities Commission and Canadian Securities Admistrators.
Our model is to maintain investment security and high sustainable returns instead of generating unsustainable growth. This means that over the long term, your risk is minimized and your growth maximised.

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click here if you'd like to see what the types of buildings we will be investing in.


Special thanks to Marco Santori (MSantori) for his assistance in dealing with our legal hurdles in forming this security.

tomorrow afternoon (6 or so) I will post our INFO ONLY corporate announcement, the technology/legal team are currently being set in motion, if anyone has knowledge of manipulating transaction script commands and database security I'd love it if they could pm me, we currently need both, as well as having a position available for a bitcoin technology manager (which will be a paid position)

a full announcement thread will replace this one on monday sir, we appreciate the interest.

I'm in the market for a lawyer versed in contract law, preferably with experience in barter contracts (Bitcoin in leu of cash in case of bankruptcy)

Please pm me if you fulfill these requirements as I am starting a new venture and need legal advice on how to properly prepare a legally binding digitally distributed contract.

hmm, I was under the impression that the blockchain bloat was getting pretty rediculous.

To be honest I think my contract(s) if I go ahead with what I hypothesise will be moderate at best, just for a 10-20 year investment I would like to have an extremely reliable/universially trusted storage medium for such a document, and I cannot think of any better than either the bitcoin blockchain or an altcoin like litecoin, or maybe all of them.

I've been trained by my father who was in real estate house flipping for 30 years in Toronto, Canada, as you can imagine this doesn't give me a title or anything.

However my friend Devin Podgorski (who I will give a full dox of as well once we finalize our proposal) is fully qualified to manage, purchase, and organise the sale of all properties we would potentially invest in.

Any investments that are not made without our current expertise in any future enterprise will be done with either our own reciept of required licenses, or we would hire the expertise of another, however that is not an immediate concern.

does that answer your question well? I'm not sure what you were looking for.

currently thats true, however the blockchain is having some serious problems with bloat (as the multitude of threads can attest to) and one of the solutions is paying a few nodes who will have the rank 0 (or the current fullly downloaded blockchain) to keep the blockchain and keep archiving away.

The reason for this permanent storage is to allow unfettered access by any party wishing to see our digital contract for eternity, nothing is required to visit, its completely on public record.

https://en.bitcoin.it/wiki/Smart_Property

a friend of mine had 400b and then sold it to pay for rent when he was in a rough patch, he made his own market trading bot back when there weren't any.

no, the conventional bitcoin blockchain, personally I'm interested in the "institutional rank 0 fee" for all people wanting to store data in the blockchain forever, a fee that would be paid monthly (variable depending on what the rank 0 clients think is fair), so that the blockchain can be used to store text information that could be extremely useful for both communication and as a legal "bulletin board" of contract information by using the script field in each tx.

This is not a short term IPO, we will be getting a mortgage on the house and shares will purchase more and more equity of the building. The valuation of bitcoin presently doesn't matter all that much (however I'm buying $5K worth this evening through a local exchange).

The people who have bitcoins now might not find their coins to be worth as much as they'd like, however if they are holding onto considerable fiat reserves still due to the volatile nature of bitcoins, then this is easily a the "safest" bitcoin investment they could potentially fund, more so then purely holding bitcoins and hoarding.