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No Fees $0 to Buy Bricks Today on Brickx Property Platform (Normally 1.75%)

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No Fees $0 to Buy Bricks Today on Brickx Property Platform (Normally 1.75%)
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danyool on 16/03/2017 - 13:21 brickx.com (296 clicks)

Got the below e-mail for No Fees To Buy Bricks Today on the Brickx property investment platform. Normally 1.75% transaction fee of value purchased for Buy orders. (same 1.75% for sell as well, but this deal applies to Buy orders only, not Sell.) - Whether the properties/values is a bargain is a different question, but I've got a couple of Brixks for fun. You will have to do POLi transfer to get funds in today which some may not like that. Normally you can Bpay funds in, but they wouldn't get there in time as deal for no fee is only for today - E-mail:

As a valued BRICKX investor we want to let you know that today is a very special day, BRICKX is celebrating 6 months since we launched!

To celebrate, today only you can buy Bricks and not be charged a transaction fee for your purchase.*

This offer ends at midnight tonight (AEDT), so if you wish to take advantage of this offer we suggest you either use funds you have in your Digital Wallet with us or add more funds into your Digital Wallet using POLi.

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  • [Deactivated] on 16/03/2017 - 13:23
    +2

    This is probably the worst way to invest

      • [Deactivated] on 16/03/2017 - 13:29
        +1

        I can't wait for all those investors to loose their money because BrickX goes belly up.

      • NigelTufnel on 16/03/2017 - 13:57
        +1

        Agreeing with someone else's comment about thinking it's a bad investment option (which I also tend to agree with) is not a valid reason to neg the deal.

    • fickre on 16/03/2017 - 13:41

      Any reason why?

      • [Deactivated] on 16/03/2017 - 13:47
        +1

        The ROI is no where near what they say.

        • danyool on 16/03/2017 - 15:37
          +1

          How have you determined that? The total estimated return is based on rental yield (around 2%) and a historical average growth figure for the suburb. (plus a gearing effect if applicable). And the platform has only been going for 6 months - but not all properties have been on there for the full time, the most recent purchase was only in February - so how are you calculating that it's not what they say?

        • [Deactivated] on 16/03/2017 - 15:53

          @danyool:
          if you invest 10 brix @ $100 each with a yield of 2% you will make $20, is the risk worth $20?

        • danyool on 16/03/2017 - 16:13
          +1

          @tuzii: Well, that's only taking yield into account. The potential total ROI is greater if values grow - which is an unknown - an estimate based on historical data. So not sure how you can claim the ROI in no were what they say - at this point in time, it's just estimated. (i will agree that it could potentially be less, if property prices slump - but you've got downside on shares as well.)

          PS, didn't neg you.

        • CandyMan on 16/03/2017 - 18:09
          +1

          @tuzii: if you pay 1.7% per transaction its not a very attractive investments. Especially if you want to sell in the 1st 2 years

    • danyool on 16/03/2017 - 14:14
      +1

      "the worst way to invest

      Wow - big call. Do you mean in property specifically, or just generally?

      If generally - you've alternatives are - cash/term deposits/bonds, shares/reits/commercial property or direct property.

      This gives you a fractional ownership in residential property. For someone who can't afford $1m+ to buy on their own, i think its an innovative idea. Have i put my entire life savings into it - no, - do i think it will do ok - yes. Admittedly it has to do better than 3% cash rate - as you would be losing that on buy/sell transaction fees - but this offer cuts that in half.

  • bolt_krank on 16/03/2017 - 13:40
    +1

    I thought they would've done a runner by now.

  • Scab on 16/03/2017 - 13:44
    +1

    Timeshare, brick by brick.

    Absolute dud.

    • wetsandwich on 16/03/2017 - 13:46
      +4

      Isn't it more like being a shareholder in a house?

    • Merlict on 16/03/2017 - 13:55

      Nothing to do with timeshare. You don't get to live in / use the property!

  • kzl on 16/03/2017 - 13:57
    +2

    At the rate the market is going, I imagine soon people would be buying atoms of properties…

  • klownz on 16/03/2017 - 14:13
    +2

    "You are free to sell your Bricks anytime. Simply set the sell price and the number of Bricks you would like to sell, making them available for other investors to purchase."

    Provided there is another investor willing to buy them… yikes

    • danyool on 16/03/2017 - 14:15

      the same as how any market works, eg the share market.

    • wetsandwich on 16/03/2017 - 14:22
      +1

      That's called a free market. I'm sure there is a buy/sell line like the share market where you could sell straight into the buyers if you were impatient.

      If you sell a whole house there also has to be someone to buy it.

      This is just like a managed fund that invests in houses for you. You can't even sell out of a managed fund if there is no buyer. I can't see how it's particularly elaborate or risky.

      • klownz on 16/03/2017 - 15:19

        You can't sell out of an ETF if there is no buyer, but thats because its exchange traded, but in the case of an exchange there is a much larger pool of investors to which you can sell to.

        There are managed funds which you can invest directly with, as the unit price is made up by the price of the underlying assets. The fund manager will generally pay disposals out of the cash portion of the fund - so you can exit when you want.

        With this system, it is not super clear that you buy the Brickx from this company (at whatever price they have acquired them for using the debt facility they have), and then have to rely on another investor within the system to buy them back from you.

        This is more risky than direct property investment as the potential market you can sell your asset to is much smaller. If an area is bearish it may be very difficult to dispose of your units.

        • danyool on 16/03/2017 - 16:04
          +1

          The fund manager will generally pay disposals out of the cash portion of the fund - so you can exit when you want.

          Except during GFC there were some managed funds that froze redemptions - so you couldn't get your money out. (or very small portions of what you requested)

          With this system, it is not super clear that you buy the Brickx from this company

          They initially hold all Bricks (10,000 shares) in each property, and then sell them at the initial price, (or whatever price they want to set). You could be buying from other investors who are selling, or from the company - if they still have shares to sell. Will be interesting to know how it will go when all properties are "on the market" just buying and selling from individuals.

          This is more risky than direct property investment…may be very difficult to dispose of your units.

          But more accessible than direct property investment!

  • anna10 on 16/03/2017 - 14:37

    If you don't have Poli, how do you get money in today?

    • danyool on 16/03/2017 - 15:10
      +1

      I think Poli is the only way to get funds in today. Its within the platform - create an account and sign in, then select Deposit funds it will be an option - from there you log into your banks internet banking to complete the transfer. (but thats why some people don't like it - feels like they are in your account - but its the same with airlines, eg Jetstar has a Poli option - so it is secure transfer)

  • anna10 on 16/03/2017 - 15:12

    I just tried that with POLI, but I only have credit cards with the banks listed.

    • danyool on 16/03/2017 - 15:18
      +1

      Ok - yeah i think you can just do it from savings accounts, not credit cards.

  • ggrant on 16/03/2017 - 15:21

    My guess without looking into this closely is 10x the fees of ASX200 shares, and 10x the risk.
    People, please avoid losing your heads investing in high risk investments, while RBA will eventually turn.

  • anna10 on 16/03/2017 - 15:32
    +2

    Ok thanks OP, this is a bit of fun, and I am not averse to well managed funds.

    ggrant, it is not easy to buy the ASX with just a few hundred $, and this is not that much of a risk, and life needs to have a bit of interest sometimes.

    • danyool on 16/03/2017 - 15:44
      +2

      Yeah - you will be able to drive past and tell your friends about your million dollar property! :)

  • Gaz1 on 16/03/2017 - 15:37

    From their FAQ's:
    Whilst the BRICKX Platform has many benefits, there are also a number of risks associated with investing in the Platform which may lead you to lose all or some of your investment. It is important that you understand the risks before you invest.

    The value of your Bricks can go up as well as down due to a number of reasons such as:

    general market risks
    economic risks
    property market risks
    property valuations
    tenant risk
    re-leasing and vacancy
    disaster and insurance risk
    counterparty risk
    lack of liquidity
    gearing risk
    limited operating history risk
    reliance on platform technology
    legal and regulatory risk

    Additional risks may exist other than those identified which should be considered in light of your personal circumstances. If you have any queries or uncertainties, please consult your financial advisor before deciding whether to invest or increase your investment.

    Please refer to our PDS for further details of some of the risks to consider when deciding whether to invest in the BRICKX Platform.

  • ihbh on 16/03/2017 - 22:04
    +1

    Can you short Brickx?

  • AssociatedJamie from BrickX @ BrickX on 20/03/2017 - 16:56
    +2

    Thanks OP (@danyrool) for your interest in BRICKX and for the spirited discussion. It's great to see the different views and opinions on this new way to invest in property.

    I am the Customer Support Manager at BRICKX and just wanted to add some info to the conversation which might be helpful.

    tuzii on 16/03/2017 - 13:29
    I can't wait for all those investors to loose their money because BrickX goes belly up.

    @tuzil - We have thought about the best way to ensure investors are protected, and have a structure which means that in the absence of BRICKX, investors still have their proportionate ownership of each property investment. Each property sits within an individual Trust separate to the BRICKX business, with an external Trustee under the watchful eye of a Responsible Entity.
    In the event the BRICKX business was to fail or cease, the Trustee and Responsible Entity would either appoint a new manager, or wind up the trust which would result in selling of individual properties and returning the funds to investors. You can find more info in this article. http://educationcentre.brickx.com/brickx-values-transparency…

    bolt_krank on 16/03/2017 - 13:40
    I thought they would've done a runner by now.

    @bolt_krank - The BRICKX Platform is a managed investment scheme that is registered with ASIC and subject to associated regulatory requirements and oversight.
    Each BRICKX property is held in a separate Unit Trust by an external Trustee, Theta Asset Management Limited (AFSL No. 230920) and independent custodian AET (ABN 84 007 869 794). Theta (the Responsible Entity and Trustee) has appointed BRICKX as Manager of the BRICKX Platform (ARSN 613 156 433). BRICKX does not hold any of the properties.

    You can find lots more information on the website but if anyone has any questions please feel free to contact me on 02 8766 0566 or [email protected]

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