Topic: REALT - Fractional and frictionless real estate investing - MY EXPERIENCE - page 2. (Read 961 times)
May 15, 2020, 07:14:27 PM
So after acquiring some decent amount of tokens, I've decided to move my tokens from a standard MEW wallet to ledger. ATM I'm in the process of doing it and will describe it once finished
April 29, 2020, 07:51:51 AM
They claim to have properties in the USA but if you are familiar with American policies regarding crypto, securities and tokenization you will know that they are far from being friendly rather they are very strict and as far as i know such a project can not run without approval from SEC so be careful if they are not approved, you will end up loosing money of that is the case.
this is also my problem with atlant.io which works the same as this realt both have to consider american policies regarding crypto investments and as of the moment licenses are pending. but its always good to invest at early stages specially in real estate
They are very strict and do KYC in order to buy any asset. If you can't pass KYC you can't buy anything.
Here is an example document that you sign in order to buy a token. https://realt.co/wp-content/uploads/2019/09/REALTOKEN-LLC-SERIES-1-9943-MARLOWE-1.pdf
https://icis.corp.delaware.gov/Ecorp/EntitySearch/NameSearch.aspx.
Search for Realtoken INC and Realtoken LLC
I tried to look into atlant.io and I can't see any listings on the website.
April 29, 2020, 05:50:13 AM
They claim to have properties in the USA but if you are familiar with American policies regarding crypto, securities and tokenization you will know that they are far from being friendly rather they are very strict and as far as i know such a project can not run without approval from SEC so be careful if they are not approved, you will end up loosing money of that is the case.
this is also my problem with atlant.io which works the same as this realt both have to consider american policies regarding crypto investments and as of the moment licenses are pending. but its always good to invest at early stages specially in real estate
April 27, 2020, 05:58:04 AM
Hello all, I have been investing with realt for some time now. I documented my research into this a while ago. I will check here to see if I can answer any of your questions.
https://medium.com/@tufcos1/realt-due-diligence-dd6c8d29b3d9
https://medium.com/@tufcos1/realt-due-diligence-dd6c8d29b3d9
April 23, 2020, 06:50:54 AM
So i got a little carried away and bought some more shares in the last property listed. haha, i know i know, crazy, right.
Anyhow, this is the situation atm
And daily i'm receiving 19.865 cents per day, or more friendly $0.19
The goal is $1 per day
Anyhow, this is the situation atm
And daily i'm receiving 19.865 cents per day, or more friendly $0.19
The goal is $1 per day
April 18, 2020, 05:41:30 AM
I've decided to push the test a bit further and bought 4 additional tokens, each at $50 apiece
Now my assets look like this:
By my calculation, I should be receiving $0.13 per day.
Not bad, considering I can always sell the tokens.
Now my assets look like this:
By my calculation, I should be receiving $0.13 per day.
Not bad, considering I can always sell the tokens.
April 17, 2020, 01:40:47 PM
So far $2 in interest. Sounds good:D
Will be buying some more tokens this weekend
Will be buying some more tokens this weekend
March 20, 2020, 04:10:04 AM
The money, even tho small amounts, keeps coming in constantly and daily.
So far so good. Even thinking about buying some more shares.
Any thoughts?
So far so good. Even thinking about buying some more shares.
Any thoughts?
March 17, 2020, 05:23:44 PM
History:
Few years ago, I've worked with an individual from US who had, at that time, an idea new and interesting to me. This idea was to buy some property, divide it into shares, and sell shares to anyone willing to invest.
The premise was, that property value was equal to sum of all shares. So each share had a value directly proportional to the value of the property.
Meaning, if property X was valued at $100k at time of purchase, and we decided to split it in 100 shares, each share would be valued at $1k.
If the property market was good, and value of the property was now assessed at $120k, this means each share would now be valued at $1.2k.
In addition to that, the property, would be rented out. The rent would be collected by the company, management fee's subtracted, and what's left would be divided into Y parts, where Y was the number of shares for this property. Then, depending how many shares of the property you own, you would get as big of a slice of the rent money.
Present time:
Few days ago, I came across an article that mentioned the idea above, but tokenized and on blockchain. Which means, shares could be purchased with crypto, as well as fiat.
This article was talking about https://realt.co/
I've spent days looking at the website, trying to figure out if it's a scam or legit.
So far, all of the facts point that it's legit.
Few days have passed, and i decided to give it try. I purchased several shares of this estate: https://realt.co/product/20200-lesure-st-detroit-mi-48235/
Payment was done via coinbase widget, i chose payment in ETH. I bought total od 3 shares for i think $208, aka 1.09 ETH at that time.
The website is promising $7.11 per token per year. So tehnically this will be 0.058 cents per day. Lets see...
The idea of this thread will be to give you guys review of the process, and if in fact the whole idea is legit or not. I'll try to give as much info as possible, and try as many options as possible.
If everything checks out, this could prove to be a really nice long term passive income stream, so I'm giving it a go and hopefully will be able to provide insight. Worst case, i lose some money.
I'll be posting updates every so often, but my main goal here is to see:
- if i really do get the tokens
- if i really do get daily interest
- if i can in fact sell the shares i bought, and hopefully make some profit on it
This is a live feed how much DAI & USDC i have made from the property:
Update#1:
After completing my purchase, the website requested i do KYC. No problem, KYC info submitted, waiting for further details...
Update#2:
Their support claims that they have an issue with KYC, and should be resolved by the end of the day. Lets see... (screenshot)
Update#3:
KYC system still broken, KYC still not done. Hopefully today is the day
Update#4:
KYC has been approved, and legal document has been issued for digital signature between me and the realt.co. My side is signed, waiting for them to sign.
Update#5:
Documents have been signed by both sides, and tokens have been sent to my ERC-20 wallet. (screenshots)
Update#6:
My daily DAI interest has arrived to my ETH wallet. (screenshot)
Update#7:
DAI is coming every day. Granted, it's only been 3 days, but still, shows promise (screenshot)
Update#8:
Payout was switched to USDC while DAI peg to USD is unstable
Why so much superfluous unnecessary volkita? I think that each country has its own laws on real estate ownership and it is better to solve such issues with a notary public) And so you will need to open a joint-stock company and it costs certain funds and it takes time and the profits will need to be legalized somehow ... well, a lot noise and little profit Few years ago, I've worked with an individual from US who had, at that time, an idea new and interesting to me. This idea was to buy some property, divide it into shares, and sell shares to anyone willing to invest.
The premise was, that property value was equal to sum of all shares. So each share had a value directly proportional to the value of the property.
Meaning, if property X was valued at $100k at time of purchase, and we decided to split it in 100 shares, each share would be valued at $1k.
If the property market was good, and value of the property was now assessed at $120k, this means each share would now be valued at $1.2k.
In addition to that, the property, would be rented out. The rent would be collected by the company, management fee's subtracted, and what's left would be divided into Y parts, where Y was the number of shares for this property. Then, depending how many shares of the property you own, you would get as big of a slice of the rent money.
Present time:
Few days ago, I came across an article that mentioned the idea above, but tokenized and on blockchain. Which means, shares could be purchased with crypto, as well as fiat.
This article was talking about https://realt.co/
I've spent days looking at the website, trying to figure out if it's a scam or legit.
So far, all of the facts point that it's legit.
Few days have passed, and i decided to give it try. I purchased several shares of this estate: https://realt.co/product/20200-lesure-st-detroit-mi-48235/
Payment was done via coinbase widget, i chose payment in ETH. I bought total od 3 shares for i think $208, aka 1.09 ETH at that time.
The website is promising $7.11 per token per year. So tehnically this will be 0.058 cents per day. Lets see...
The idea of this thread will be to give you guys review of the process, and if in fact the whole idea is legit or not. I'll try to give as much info as possible, and try as many options as possible.
If everything checks out, this could prove to be a really nice long term passive income stream, so I'm giving it a go and hopefully will be able to provide insight. Worst case, i lose some money.
I'll be posting updates every so often, but my main goal here is to see:
- if i really do get the tokens
- if i really do get daily interest
- if i can in fact sell the shares i bought, and hopefully make some profit on it
This is a live feed how much DAI & USDC i have made from the property:
Update#1:
After completing my purchase, the website requested i do KYC. No problem, KYC info submitted, waiting for further details...
Update#2:
Their support claims that they have an issue with KYC, and should be resolved by the end of the day. Lets see... (screenshot)
Update#3:
KYC system still broken, KYC still not done. Hopefully today is the day
Update#4:
KYC has been approved, and legal document has been issued for digital signature between me and the realt.co. My side is signed, waiting for them to sign.
Update#5:
Documents have been signed by both sides, and tokens have been sent to my ERC-20 wallet. (screenshots)
Update#6:
My daily DAI interest has arrived to my ETH wallet. (screenshot)
Update#7:
DAI is coming every day. Granted, it's only been 3 days, but still, shows promise (screenshot)
Update#8:
Payout was switched to USDC while DAI peg to USD is unstable
March 17, 2020, 03:29:02 PM
Today i noticed that my DAI amount hasn't changed, so i checked my wallet and i saw that the same amount expected from DAI, was sent with USDC.
I've asked the team, and they confirmed that they switched to USDC while the DAI peg to USD is unstable
I've asked the team, and they confirmed that they switched to USDC while the DAI peg to USD is unstable
March 16, 2020, 05:31:40 PM
They claim to have properties in the USA but if you are familiar with American policies regarding crypto, securities and tokenization you will know that they are far from being friendly rather they are very strict and as far as i know such a project can not run without approval from SEC so be careful if they are not approved, you will end up loosing money of that is the case.
Thanks for the warning and heads up. But this is exactly why i'm doing this, to test it out.
My $200 invested might save someone's $10k.
March 16, 2020, 05:03:49 PM
They claim to have properties in the USA but if you are familiar with American policies regarding crypto, securities and tokenization you will know that they are far from being friendly rather they are very strict and as far as i know such a project can not run without approval from SEC so be careful if they are not approved, you will end up loosing money of that is the case.
March 16, 2020, 02:17:30 PM
I've put an auto generated image in the OP that will reflect in real time my DAI balance.
This balance represents gains from the property
This balance represents gains from the property
March 16, 2020, 08:07:00 AM
Have you analysed and checked their licensing from the relevant authorities, even though this project is based on blockchain tech and revilves around tokenization of real estate assets for fractional ownership but still this type of business model needs proper licensing and registrations from all related authorities from the local area from where they are operating, if you share there authentic licenses and approval from official regulatory bodies then it would be great.
I have not checked. But feel free to do so.
As stated in the beginning, i'm not promoting this project, just testing it to see if it's legit or not
March 15, 2020, 05:46:04 PM
Have you analysed and checked their licensing from the relevant authorities, even though this project is based on blockchain tech and revilves around tokenization of real estate assets for fractional ownership but still this type of business model needs proper licensing and registrations from all related authorities from the local area from where they are operating, if you share there authentic licenses and approval from official regulatory bodies then it would be great.
March 15, 2020, 02:25:59 PM
It's been 3 days now since i passed KYC and officialy got the tokens. And each day, DAI came
March 13, 2020, 07:27:05 PM
snip..
I am very interested in the concepts offered by REALT, which are very easy to understand.btw.. @OP thank you for sharing, if the investment that you show is proven to be paying, then I am interested in becoming one of the members
I just received my 1st payment. It's not much, but it's what i calculated it would be.
It would seem they are true to their word and they're paying daily interest in DAI
Now only thing left to do is wait to see if the payments will be constant, and in the end, if the property value will increase in time.
So far, everything checks out and is legit.
However, there is one possibility left, and that's that they're actually giving me back my money (what i invested, converted to DAI) and there's no property involved.
At some point, if the price of property goes up, i might decide to sell a share or two to see what will happen.
March 13, 2020, 02:42:58 PM
snip..
I am very interested in the concepts offered by REALT, which are very easy to understand.btw.. @OP thank you for sharing, if the investment that you show is proven to be paying, then I am interested in becoming one of the members
March 12, 2020, 04:50:49 PM
The document has been signed, and the tokens have been issued.
I can confirm that I see both tokens in my ERC-20 wallet, and i see it shown on my portfolio on the realt.co webpage.
So far so good.
Also, since the website has an option to sell your tokens, i wanted to see what the price was, and believe it or not, they offered me the exact value i paid.
Next thing would be to wait couple of days to see the interest coming in (apparently, it's paid daily) and to see after some time if the property price would change value and how it would affect the price of my tokens
I can confirm that I see both tokens in my ERC-20 wallet, and i see it shown on my portfolio on the realt.co webpage.
So far so good.
Also, since the website has an option to sell your tokens, i wanted to see what the price was, and believe it or not, they offered me the exact value i paid.
Next thing would be to wait couple of days to see the interest coming in (apparently, it's paid daily) and to see after some time if the property price would change value and how it would affect the price of my tokens
March 12, 2020, 12:42:53 PM
Finally the KYC has been approved and everything is fine.
The next step is to sign an actual contract with them.
You receive an invite in the email, asking you to use a digital signature service.
You're presented with a lenghty contract, and it's advised you read it.
Even better, if you have access to an attorney, have him read it and interpret, as it's filled with "legal language".
Signing of it is pretty simple, you click on 3 check-boxes and then provide a signature, which you can either draw, upload or write and choose a "handwriting like" font.
After you submit it, the other side (realt.co) needs to sign as well. ATM waiting for them to sign
The next step is to sign an actual contract with them.
You receive an invite in the email, asking you to use a digital signature service.
You're presented with a lenghty contract, and it's advised you read it.
Even better, if you have access to an attorney, have him read it and interpret, as it's filled with "legal language".
Signing of it is pretty simple, you click on 3 check-boxes and then provide a signature, which you can either draw, upload or write and choose a "handwriting like" font.
After you submit it, the other side (realt.co) needs to sign as well. ATM waiting for them to sign
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