Like it or not, this is definitely a USD57.96 lesson to see if this works or not
Fingers crossed! 🤞
As DeFi is going super crazy and making much headlines especially when uniSwap is taking the main limelight in many crypto space communities, I came across this YouTuber (when I was trying to look at different stablecoins pros and cons) mentioned about this Token asset that he has been using for quite a while now
Which is called RealT
It is basically a Real Estate token that is being issued by an agency that has purchased over the property, and turned it into shares (Real token) for investors in US / around the world to buy in and then gives return to the investors.
I didn't get this from some wikiPedia or their FAQ, I actually talked to one of the representatives
(about 2 hours ago)
So according to RealT.co website during your sign up, it actually has pretty much the welcome overview for you to read before you proceed further.
It is not an ICO, you can't really trade it in exchanges, and it only starts dividend issuing when the whole house's token funding is fully fulfilled.
I wished I could copy the entire conversation but somehow before I could do that the session has ended when I said thank you haha
Howver their discord is real and there is a community there to support should I need to ask more question
How does it work?
- A property is acquired
- The property gets a tenant
- The property value is calculated in token value
- The tokens are listed to gather investment
- One the full number of tokens are sold to investors, then the yield dividend is issued back monthly; in USDC ERC20 token.
- Tenant pays rent monthly, all basic costs deducted by landlord, remaining balance of the month's rent is converted into token.
- Token distributes back to investors (based on number of tokens they hold)
My question: Is it a guaranteed dividend once it kicks off?
(paraphrased) The tenant rent is partly supported by the government, therefore if there's a certain difficulty for the tenant to pay the rent, there's still the government support that comes in for rent. The only time you are not receiving dividend is when there's no tenancy.
What do I like about this interesting "investment"
1. Diversifed payments
Even though this is issued by coinbase business platform you can pay in different crypto currency that you have and weigh on the best crypto mining / gas fee you can look into.
If you don't have a crypto currency account, you can also use debit card / credit card; however I am pretty sure there's a service fee conversion from fiat to crypto and at the same time you will need a MetaMask (Ethereum wallet) in order to receive your stable coins later.
2. You can pay from exchanges to their wallet
Although the dividend payment cannot be assigned to an exchange wallet address, however you can accumulate your crypto in a trustworthy fast service* exchange and sends it out straight to their address and the processing is real-time
This is updated within 30 seconds on real time right after I sent out from exchange
3. Super fast KYC
Once you have purchased your first realT token, KYC is actually needed. You will need to take a selfie with your passport and you can be identified within 15 minutes.
(That's what it took mine to process. I think it was because the support was online at the time)
The only drawback for this investment is that you will need KYC
Because the properties are on US soil and also they are legally compliant, KYC is definitely unavoidable.
Is this a sure thing?
This company started in 2019 and just updated their domain renewal till 2024, I think I can safely say that at this point of time, it can be a safe bet.
Not financial advice though! Join me with this experiment in your own risk
Curious / Interested?
At this point of time, this landed property in Michigan that is opened for international token purchase has 877 tokens left for people to invest; and the minimum purchase is 1 token at USD $57.96.
It will not start to yield dividend until all 3,000 tokens are all sold out, and there's still 877 tokens left.
I am not certain when did it start releasing for token sales, but less than 1,000 tokens left could be a good thing meaning there are buyers.
And the looks of it there's already tenants there and payments it seemed (?) to be insuranced in the Section 8 act where landlord will still receive 100% rent if tenant is unable to pay out rent.
Not too bad of a deal? Perhaps.
So right now with 82.79% of the token is mine and 17.21% is @fusion.lover's let's see if we can get something back together. 😂
By clicking the link here or any of the pictures to find out more.
Updated: 9 September 2020
I just found this interview on the co-founders on youtube about RealT and it's concept. I like the point that they wanted to encourage small / young income earners to start earning passive income early and available to them small chucks of property ownership via security contracts, which is very interesting.
If you have time, take a look at their interview below:
my God brother stays in Michigan before Covid-19, and so far seems all right still