Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter

Fintech puts property investors on the ladder for $66

Real estate is now being sold through another fintech platform in what may be the start of a growing trend.

BrickX is an online platform that allows investors to buy ‘bricks’ or shares in specific properties from $66 instead of needing to buy properties outright.

There are currently 20,000 bricks being traded from two residential properties leased and located in Sydney, with dividends paid each month, according to BrickX.

Bricks are currently available to wholesale investors only, although retail investors will also be able to make purchases for their SMSF in the “near future”.

Chief executive Darren Patterson said there is a growing appetite from SMSFs to have access to residential property.

Advertisement
Advertisement

PROMOTED FEATURES


“Gone are the days of trustees having to scroll through real estate listings, attend auctions, appoint buyers’ agents or spend countless more hours trying to successfully complete a transaction,” he said.

“Through BrickX, people can invest into carefully selected residential properties literally from the comfort of their own home or office.”

Mr Patterson said BrickX will break down traditional property investment barriers and make it easier to invest interstate.

“BrickX has created a new asset class that we believe will satisfy many of the investment desires of SMSF trustees and their advisers across the country,” he said.

It comes after DomaCom and Estate Baron recently signed a fintech agreement that will allow investors to buy shares in individual properties over the internet.

Under the agreement, DomaCom will provide the back-end online book-build process and compliance for properties listed by Estate Baron.

DomaCom is a ‘fractional property investment’ platform that combines online property listing with online trading. Estate Baron is a crowd-investing site created to raise capital for opportunities in real estate.

Fintech puts property investors on the ladder for $66
mortgagebusiness

Latest News

La Trobe Financial’s chief investment officer has suggested that while Australia is suffering from a “molasses” economy due to COVID-1...

The auction market has recorded its highest combined capital city preliminary clearance rate since March, despite record-low auction volumes...

Fintech lender Lumi has announced plans to raise $20 million in capital to expand its team and market share over the next 12 months. ...

FROM THE WEB
podcast

LATEST PODCAST: How lenders are viewing the property price outlook

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.