Fractional Ownership

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<p>With auction clearance rates pointing to stronger real estate markets, property ownership disruptor BrickX could be looking to expand its portfolio of houses and flats, to allow more investors to buy its “bricks”.</p>
<p>BrickX is understood to be fielding investment options from a range of suitors interested in its concept of fractionalising property ownership. </p>
<p>After just three months in the role BrickX’s CEO Kareene Koh has announced a permanent fee cut to the property investment service.</p>
<p>BrickX has slashed its fees on the purchase and sale of Bricks from 1.75 per cent to just 0.5 per cent. </p>
<p>“Our vision is to make property accessible for all Australians by providing a simple way for our growing community to share in the Australian residential property market.” says Kareene.</p>
<p>In the last five years, BrickX has grown to over 13,500 members and touts 19 properties users can invest in. </p>
<p>With the new reductions a member purchasing a Brick for $50 would only have to pay a fee of 25 cents.</p>
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j.ballantyne1990-6AQqhLzZaK

BrickX permanently cuts fees by 70%

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<p>Fractional property investment platform BrickX have continued their 2018 spending.</p>
<p>They've settled on a <a href="https://www.realestate.com.au/sold/property-house-sa-kingswood-128923126" target="_blank">1920s home in Kingswood</a>, a southern suburb of the Adelaide CBD near Mitcham Square.</p>
<p>It's the second property they've bought in South Australia having spent $825,100 on a <a href="https://www.urban.com.au/news/74209-brickx-looks-south-to-adelaide-for-next-property" target="_blank">St Peters home mid last year.</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/BrickX1.jpg" alt=""></p>
<p>The new $567,500 purchase has two bedrooms and one updated bathroom.</p>
<p>The character features of the 1920s have been retained, including high ceilings, polished timber floorboards and an open fireplace.</p>
<p>It has an outdoor entertaining area with verandah and pergola on its 301 square metre Arnold Street parcel.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/brick3.jpg" alt=""></p>
<p>Bricks are being offered at $47 per brick.</p>
<p>A tenant has been secured at $400 a week, which reflects an annual net rental yield of just under 1.6%.</p>
<p>The home is set to bring in a total of $7,429 a year.</p>
<p>BrickX advise the historical suburb growth of Kingswood is 7.5% per annum.</p>
<p>Earlier this year BrickX bought a <a href="https://www.urban.com.au/news/88298-brickx-buy-first-regional-property-in-ballarat" target="_blank">property in Soldiers Hill</a>, their first in Central Victoria, quickly followed by <a href="https://www.urban.com.au/news/89652-brickx-buy-again-near-ballarat-in-central-victoria" target="_blank">another in Ballarat</a> nearby, as well as an apartment in <a href="https://www.urban.com.au/news/82252-brickx-buys-its-15th-fractional-ownership-property-in-darlinghurst" target="_blank">Darlinghurst. </a></p>
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BrickX secure second Adelaide property

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<p><span>The Australian listed fractional property investment company DomaCom has secured $1 million in funds which will assist in meeting working capital funds.</span></p>
<p><span>The funds have been secured through the issue of a convertible security to the Australian Special Opportunity Fund, LP, a New York-based institutional investor managed by The Lind Partners, LLC. It will also get options in the ASX-listed company currently trading at 14 cents, down </span></p>
<p><span>Under the agreement with Lind, $1 million is immediately available to DomaCom.</span></p>
<p><span>It will be used to support the ongoing development of the DomaCom platform and meet working capital requirements.</span></p>
<p><span><span>The Lind Partners is a New York-based alternative asset management firm that manages a family of institutional investment funds focused on small- and mid-cap publicly traded companies with an emphasis on Australia, Canada and the United Kingdom. Since 2009, Lind has worked on over 75 direct investments with a total transaction value in excess of US$550 million.</span></span></p>
<p><span><span>It links  in Australia have been mostly with resources<span> companies including Herencia Resources, Blackham Resources and </span><span>Australian</span><span> Pacific Coal.</span></span></span></p>
<p><span><span><span>Gina Rinehart's estranged son, John Hancock, was announced an Australian consultant at </span><span>The Lind Partners</span><span> in 2015.</span></span></span></p>
<p><span> The Domacom agreement provides for DomaCom to request up to an additional $500,000 during the term of the security through the issue of a second convertible security subject to separate approval by Lind.</span></p>
<p>The agreement will be secured against 2 million DomaCom shares held as collateral. </p>
<p>While shareholder approval is not required for the funding to proceed, the agreement contains provisions requiring approval of shareholders to refresh the placement capacity under Listing Rule 7.1. </p>
<p>DomaCom is separately currently raising further capital through the issue of 3 year convertible note that will complete within 10 days after the issue of the Lind Convertible Security and will be subject to a separate announcement. </p>
<p><span>DomaCom will issue Lind a $1,200,000 Convertible Security that will be repayable over 24 months with an initial repayment holiday of 120 days.</span></p>
<p><span> DomaCom will make 20 monthly repayments of $63,000 in either shares or cash (at DomaCom’s option). </span></p>
<p><span>The monthly repayment amount in shares will be determined using 90% of the average of 3 daily VWAPs as selected by Lind during the 20 business days preceding the monthly repayment. </span></p>
<p><span>The 20</span><span>th </span><span>and final payment is scheduled to take place in December 2019. </span></p>
<p><span>Lind has the right to have the security repaid early at any time during the term by converting the balance of the convertible security into DomaCom shares based on a price per share equal to 130% of the average of the 5 daily VWAP selected by Lind during the 20 trading days prior to the execution of the agreement. </span></p>
<p><span>DomaCom has the right to prepay the remaining balance of the Convertible Security at any time at a price determined by Lind equal to either the 130% of the average of the 5 daily VWAP selected by Lind during the 20 trading days prior to the agreement being execute or 90% of the average of three daily VWAPs as selected by Lind during the 20 trading days prior to notice of repayment. </span></p>
<p><span>DomaCom will pay Lind a commitment fee of $50,000 and will issue Lind 3.7 million options to purchase ordinary shares in DomaCom with an exercise price equal to the average daily VWAP during the 20 trading days prior to the execution of the agreement with an expiry date of 36 months after the date of issue.</span></p>
<p>Domacom has recently released a swath of announcements involving expansion plans to capture investors in the mainstream.  </p>
<p>They announced an <a href="https://www.urban.com.au/news/79503-domacom-takes-property-crowdfunding-mainstream" target="_blank">agreement with Domain</a> <span>to integrate the full suite of Domain property listings into the DomaCom crowdfunding platform.</span></p>
<p>They are also poised to <a href="https://www.urban.com.au/expert-insights/finance/78685-domacom-poised-to-crowdfund-mortgage-backed-loans" target="_blank">crowdfund mortgage backed loans.</a></p>
<p class="story-paragraph">DomaCom stock had an initial offer price on the Australian Securities Exchange (ASX) in November 2016.</p>
<p class="story-paragraph">DomaCom raised $7.3 million, with about 500 new investors buying into the float, along with its 200 existing investors.</p>
<p class="story-paragraph"><span>DomaCom hit the headlines with an ambitious bid to buy Australia's largest landholder S.Kidman and Co with a $410 million crowdfunding campaign, but failed to secure the momentum in the wake of hurdles imposed by the selling agents.</span></p>
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Domacom secures $1 million funding boost from New York institutional investors

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<p>BitCoin has found his way into the real estate industry, with vendors prepared to take the currency, now its making waves in the automotive industry.</p>
<p>In a world first, the decentralized and revolutionary <a href="https://bitcar.io/#aboutbitcar" target="_blank">BitCar.io</a> platform allows crypto space holders and traditional car enthusiasts to own and trade in exotic super cars in small fractions, with new BitCar tokens.</p>
<p>The cars include the likes of Lamborghini's, Ferrari's and Bugatti's.</p>
<p>The vehicles will be stored or displayed for up to 15 years to optimise their value.</p>
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<p><span>Co-founded by Gov van Ek, Nuno Martins and John Bulich, BitCar believes that exotic cars serve the public well when exhibited in collections where the public can continuously enjoy them.</span></p>
<p>Perth's Peter Briggs, who at one point had 300 classic cars, is an advisor. </p>
<p>Briggs, the colourful West Australian property developer and mining entrepreneur, owned the first Holden prototype to be made in Australia, which was listed in 2013 for $1 million. It cost around $15,000 in 1980.</p>
<p><span>BitCar aims to disrupts exotic car ownership from just the privileged few and opens the asset class up to include the general enthusiast. </span></p>
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<p><span>Automobiles are no longer considered as a mere mode of transportation, noted that according to AXA Art for the first eight months of 2017, 7,443 cars were sold at auction</span><span>.</span></p>
<p><span> The annual sales for the past 12 months was 890m Euros with classic cars over the $1 million accounting for 40 per cent, of the market value.</span></p>
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<p><span>Estimates for the total number of Ferrari’s made to date are 130,000, suggesting at an average price of $100,000 to $200,000, then the total Ferrari market stands at $13-26 billion. </span></p>
<p><span>"This is only one brand of targeted Exotics," Bitcoin notes.</span></p>
<p><span>The Sultan of Brunei, estimated to be worth $20 billion is said to have 6,800 Exotic cars, by far the largest collection in the world - including 452 Ferraris and 11 McLaren F1s. </span></p>
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<p>The BitCar tokens are intended to be traded on the decentralised Blockchain platform.</p>
<p>Historically, the value of collector cars and exotics have outstripped property prices and gold, making them a solid wealth creation vehicle.</p>
<p>The beauty of BitCar is that it links the value of tokens to the prices of real assets within the platform. It provides a relatively safe haven against the volatility of crypto markets.</p>
<p><span>The Perth-based BitCar</span><span> has sought to raise up to $US25 million in an Initial Coin Offering (ICO) selling 250 million tokens that can be invested in “small fractions” of exotic supercars.</span></p>
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<p><span>Linking physical assets to Blockchain tokens has been legally complex and is rapidly evolving, the site notes.</span></p>
<p><span> Over the past two years the team, including members from Ledger Assets Pty Ltd, a leading blockchain commercialization company in Australia, have established and developed the BitCar team, technology and skills needed to bring BitCar to launch. </span></p>
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<p><span>Of the total 500 million BITCAR tokens, 250 million will be sold in the ICO. </span></p>
<p><span>There are 95 million reserved for th</span>e team, founders and future employees, plus 40 million for the bounty campaign, early backers and external owners and a Growth Pool of 60 million for Platform growth, incentivisation, user acquisition and partnerships. The remaining 55 million are allocated for the Company token reserve. </p>
<p>For more information on BitCar <a href="https://bitcar.io/" target="_blank">click here.</a></p>
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Fractional ownership BitCar allowing people to park their crypto tokens

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<p>Westpac Banking Corp's venture capital fund Reinventure Group has invested in the fractional property ownership platform Brickx.</p>
<p>Reinventure have not disclosed the amount of the fund's investment.</p>
<p>The deal is reportedly the 17th investment by Reinventure Group, which has received $100 million of funding from Westpac. </p>
<p>Reinventure is also backing other property related startups including openagent.com.au and <span>Nabo, a free social media platform that enables individuals and community organisations to instantly and directly connect online with others in their suburb.</span></p>
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<p>Danny Gilligan, co-founder of Reinventure, says it was attracted to Brickx as the site was looking holistically at the property financing, buying and living experience on one platform. </p>
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<p>Around half of the 7600 investors on the Brickx platform are under the age of 35.</p>
<p>Some three-quarters of them have never had any exposure to residential property.</p>
<p>The platform allows investors to purchase "bricks", or part-ownership rights that allow their owners to access capital gains on the property and receive rental income.</p>
<p>The bricks can be sold on the platform.</p>
<p>Each of the current 14 properties are split into 10,000 bricks. </p>
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<div class="cq-article-content-media section">Brickx CEO Anthony Millet told Fairfax Media that many investors have been buying "bricks" as an alternative to bank deposit.</div>
<div class="cq-article-content-media section"> </div>
<div class="cq-article-content-media section">He said banks were interested in Brickx because it could provide self-managed superannuation funds (SMSFs) with exposure to property without them having to buy an entire property and manage it.</div>
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<p>The platform may potentially be used to create an alternative to a reverse mortgage, freeing up home equity for retirees able to bring their existing property onto the platform.</p>
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