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Author Topic: Own a piece of Manhattan  (Read 238 times)
BK777
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April 29, 2018, 10:59:23 AM
 #21

OP was in February.

Is there any update? I think I read about an entire building in somewhere in the Middle East being made into apartments, which were then auctioned off in exchange for BTC. Update, found a link to the story: https://www.telegraph.co.uk/property/buy/bra-tycoon-michelle-mone-selling-192m-dubai-apartments-bitcoin/

Can the above be relevant to your pursuit?

Oh man, my first investment and the best! helped me a lot in my start and still doing whenever I come a cross a good deal. happens all the time there, I can confirm. I am an Egyptian lawyer, drafted many contracts between partners vs real estate and construction companies. Basically, 2-4 partners collect specific amount together to buy a land or old house. Take it down and partner up with a real estate construction company to build a big building and do the rest so they do not get bothered with workers. 10-13 floors each floor with 2-4 flats depends on area budget to sell the apartments fast and split profit 60/40 between land owners and construction company. 150-200% profit back even before the building is over and finished because many buyers prefer to deposit 50-70% and pay the rest monthly for one year max which what it takes for the building to be finished and when its finished they just move there to live in their new apartments.

Very good business though, and better than US & EU since laws much easier not strict. I live in Sweden now and I though about doing it here but kinda hard with all the laws and regulations must own a big land and build many houses not big building with flats unless the government is the one building or special contracts to special companies , etc so in the end kinda like a monopoly. hard for small-medium investors to get in.

But in middle east much easier Smiley
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kittucrypt
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April 29, 2018, 02:09:51 PM
 #22

OP was in February.

Is there any update? I think I read about an entire building in somewhere in the Middle East being made into apartments, which were then auctioned off in exchange for BTC. Update, found a link to the story: https://www.telegraph.co.uk/property/buy/bra-tycoon-michelle-mone-selling-192m-dubai-apartments-bitcoin/

Can the above be relevant to your pursuit?

This isn't something we are trying to achieve. This is just accepting BTC as mode of payment instead of local currency. At the end of the day, owner will still be a single individual/firm with all the cash. The idea with us is to tokenize a property. Regulatory framework makes it hard to do so without setting up intermediary investment vehicles.

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April 30, 2018, 08:42:32 PM
 #23

OP was in February.

Is there any update? I think I read about an entire building in somewhere in the Middle East being made into apartments, which were then auctioned off in exchange for BTC. Update, found a link to the story: https://www.telegraph.co.uk/property/buy/bra-tycoon-michelle-mone-selling-192m-dubai-apartments-bitcoin/

Can the above be relevant to your pursuit?

This isn't something we are trying to achieve. This is just accepting BTC as mode of payment instead of local currency. At the end of the day, owner will still be a single individual/firm with all the cash. The idea with us is to tokenize a property. Regulatory framework makes it hard to do so without setting up intermediary investment vehicles.

Ah, right. My mistake.

So you're looking at this more from a liquidity angle.
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May 04, 2018, 12:05:46 AM
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Are there any more oppurtunities like this active?
BK777
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May 05, 2018, 10:21:59 PM
 #25

OP was in February.

Is there any update? I think I read about an entire building in somewhere in the Middle East being made into apartments, which were then auctioned off in exchange for BTC. Update, found a link to the story: https://www.telegraph.co.uk/property/buy/bra-tycoon-michelle-mone-selling-192m-dubai-apartments-bitcoin/

Can the above be relevant to your pursuit?

This isn't something we are trying to achieve. This is just accepting BTC as mode of payment instead of local currency. At the end of the day, owner will still be a single individual/firm with all the cash. The idea with us is to tokenize a property. Regulatory framework makes it hard to do so without setting up intermediary investment vehicles.

Its the same thing, in the end your looking to rent for BTC , correct ? then all it depends on finding whos willing rent for BTC . same as finding whos willing to sell for BTC. but since your looking for partnership, its better converting your BTC to cash to buy with your partner whatever building is going to be and converting rent to BTC to split profit. much easier and ownership can be split between partners. You can even draft the contract through crypto payment.
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