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Author Topic: [Idea] Property investment with Bitcoin  (Read 921 times)
delinquent
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September 03, 2013, 01:39:51 PM
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The property market here in the UK seems to be doing fairly well. A lot of people are buying up property at auction, doing it up and selling it on for a profit.

Example, from UK TV show "Homes under the Hammer" - youtube link: http://www.youtube.com/watch?v=ftuzyyz693E

The first property is shown as a rather run down house, purchased at auction for £47,500.

The house is re-visited at about 26 minutes in, renovated at a cost of £25,000.

This makes a total outlay of £72,500.

The valuation (at 30mins in) is £90,000.

Total pretax: £17,500.

Rental valuation: £500 - £600 (3-4% approx).





What about a crowdfunded business in this market, using bitcoin?

Idea only, I'm not asking for any investment!

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Peter Lambert
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September 03, 2013, 02:12:39 PM
 #2

Check out RentalStarter (listed on BitFunder.com), somebody is already doing this.

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September 03, 2013, 02:19:23 PM
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Not bad at all, I was thinking more of quick turnover though. I.E. Selling refurbed property, as opposed to renting it.

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September 03, 2013, 02:28:05 PM
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Not bad at all, I was thinking more of quick turnover though. I.E. Selling refurbed property, as opposed to renting it.

It works out about the same. He could sell the properties after refurbishing them, or rent them out, just depends on what is more economical/available at the time. He is talking about renting the properties and also taking out a mortgage on them to leverage the funds to buy subsequent properties.

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delinquent
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September 03, 2013, 03:12:37 PM
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Not sure how legal that is in the UK tbh, but it certainly sounds viable. Any idea if there's room for another firm? Also, do you know if the owner has a forum name?

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September 03, 2013, 03:29:50 PM
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Not sure how legal that is in the UK tbh, but it certainly sounds viable. Any idea if there's room for another firm? Also, do you know if the owner has a forum name?

read more here: https://bitcointalk.org/index.php?topic=215230.0

There could be more than one such company operating in each city. There is the question about how much capital can be raised from the bitcoin community for such ventures, I suspect a couple more could be started easily. In a couple months, if the existing companies are proceeding profitably, then there would be enough investment potential for a large number of such companies.


Why wouldn't it be legal in the UK? As long as you follow appropriate laws you should be fine.

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September 03, 2013, 03:36:26 PM
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delinquent - very interesting

This sounds like a superb idea.

Always room for another firm. Competition provides choice for the consumer.


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delinquent
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September 03, 2013, 05:47:41 PM
 #8

I'll do some research, this may prove a viable business. God knows I need work right now :/

I just spoke to Branny on the telephone, this could be a big thing.

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September 03, 2013, 05:50:05 PM
 #9

Interesting.
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September 03, 2013, 07:03:54 PM
 #10

Need a programmer, I'm the guy Smiley Worked on a Switzerland based realty web app, and I know that bitcoin could work well in the real estate arena. The only issue is, is getting the MLS on board.
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September 04, 2013, 02:08:03 AM
 #11

Check out http://www.bitcoinstarter.com for your Crowdfunding needs.
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September 04, 2013, 04:24:51 AM
 #12

The property market here in the UK seems to be doing fairly well. A lot of people are buying up property at auction, doing it up and selling it on for a profit.

Example, from UK TV show "Homes under the Hammer" - youtube link: http://www.youtube.com/watch?v=ftuzyyz693E

The first property is shown as a rather run down house, purchased at auction for £47,500.

The house is re-visited at about 26 minutes in, renovated at a cost of £25,000.

This makes a total outlay of £72,500.

The valuation (at 30mins in) is £90,000.

Total pretax: £17,500.

Rental valuation: £500 - £600 (3-4% approx).


What about a crowdfunded business in this market, using bitcoin?

Idea only, I'm not asking for any investment!


Im not saying its not a viable business but you might want to align yourself with someone who has a ton of real estate experience first. Profit margin is very low for what your looking to do, you need to factor in real estate agent fees for selling the property after its refurbished, unless you plan on doing that yourself which is a huge headache, then theres closing costs when you sell it & then you have to pray that buyer doesn't want to negotiate. Valuations in real estate are not end all be all for determining the price your going to get for selling it, in the end it worth what someone is willing to pay for it. Lets not forget there's also carry costs until it's sold
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September 04, 2013, 07:16:48 AM
 #13

A decent idea! I have a few friends that do this type of thing. Remember you gotta live in the home for 6 months if you don't wanna be paying extra tax on it though

delinquent
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September 06, 2013, 07:20:42 PM
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I'm not saying...


You're right, which is why I'm hoping to partner with Branny (Rentalstarter.com) and a few guys over here in the UK who know what they're doing.

I'm doing a lot of research into this, but I don't think bitstarter is going to be a viable option.

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September 06, 2013, 08:41:40 PM
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Do you have any skill as a general contractor?  Typically flippers can do so because they can either do the labor themselves or get labor cheap.  Most of those TV shows typically low ball the costs to make for good viewing. 

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