Bitofproperty review shows that Bitofproperty is a blockchain based real estate crowdinvestment platform, making property investing affordable and increasing liquidity of the investments. The company is headquartered in Singapore and has a subsidiary in Estonia. Bitofproperty began taking loan applications in late 2018.
The BitOfProperty team searches internationally to provide you some of the most competitive off market opportunities that are typically not available to the general public. All assets are carefully screened and evaluated internally prior to listing on the platform.
BitOfProperty allows investors to invest in real estate by purchasing BITS, which represent ownership of the listed rental properties. One BIT can be as low as €50. BITS have similar characteristics as dividend stocks, which means that investors will earn monthly rental income and take advantage of real estate price increase proportionally to their investment amount.
Key facts about Bitofproperty
Estimated annual returns: Up to 12%
Loan security: Real estate as collateral
Provision fund: No
Registered investors: ~1000 investors in April 2019
Buyback guarantee: No
Minimal investment: €50
Time to become invested: Varies on loans availability
Time needed managing: Low
Regulation: registered in Estonia where the crowdfunding market is not regulated
Country of operation: Singapore and Estonia
Defaulted loans: 0%
Borrowers verification: By the platform
Accepted currencies: Euro
Accepts investors from: Worldwide (except US)
The Bitofproperty Review: Pros and Cons
– All loans secured with real estate
– Fast ID verification up to 2 working days
– Low minimal investment
– Blockchain backed investments
– Low interest rates
– No BuyBack guarantee
– Young platform
Lendy, EstateGuru, Crowdestate, Brickblock
Bitofproperty Review: what I have experienced so far
Firstly, some words about opening account at Bitofproperty. For me it was easy process, all I needed was to click fill your personal data and that’s it. Later you have to upload your ID card copy to Bitofproperty’s dashboard and wait for confirmation.
Add funds to Bitofproperty’s account also is enough easy. You can use banlk transfer or virtual currency transfer. Need to remember that minimal investment is 50 eur before you deposit a lower amount.
I always emphasize that returns should not be the key factor once you decide to where to invest. The most important is how the platforms evaluate the borrowers (in this case real estate properties). Returns are quite low (up to 8%) compared to the competitors in this region. It’s hard to say right now how the evaluation works as there have been only a few projects funded. However, blockchain part can give more transparency and security for the investors.
Bitofproperty has a small team of 4 person. It can an advantage because the cost are low to manage the company, but some may say that it a very small P2P platform that is not a big player in the market. Website does not look very as very modern, and there are many places where UI can be improved that investors could easier navigate in the platform. Blockchain part looks interesting where the real estate projects are tokenized, however I personally would like to see more projects coming.
Bitofproperty review is written by Tomas Medeckis