This was posted 5 years 9 months 6 days ago, and might be an out-dated deal.

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No Fees to Buy Bricks in New Perth WA Property on Brickx Platform (Normally 1.75%)

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No Fees to Buy Bricks in New Perth WA Property on Brickx Platform (Normally 1.75%)
Go to Deal
danyool on 19/02/2019 - 13:56 brickx.com (326 clicks)
Last edited 19/02/2019 - 13:58

I know this company hasn't had a good recption here, but I like the idea - and no fees to buy in their new Perth property is a deal for me as I was planning to pick up a couple anyhow.

Do I know Perth market? No
Has it reportedly been in the Doldrums? Yes
Could it recover? Maybe

One slightly concerning thing for me is that according to this
the suburb has already had 19.1% growth.
- so has it already had its run? Should we expect more? Or is it all going to crash again. These and other unanswered questions. Stay tuned to the next exciting episode of "My crazy Investments"

Not financial advice!!

Edit - This is promo for no transaction fees to Buy. Sell fees of 1.75% will apply when you sell.

Financial Bricks Brickx

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closed Comments

  • Hinee on 19/02/2019 - 14:03

    So this is essentially a real-estate stock market? Hmm… not sure how this one is going to fare

    • danyool on 19/02/2019 - 15:40

      It's been around for 2 or so years. They're diversifying where their properties are - so you can pick and choose.

  • kadaj on 19/02/2019 - 14:08

    Afraid its still a rip off. Plus this is less liquid than my 5 year term deposit account!

    • ets27 on 19/02/2019 - 14:15

      HI, what interest can you get if i can ask?

    • danyool on 19/02/2019 - 15:40
      +1

      It is liquid - just you might have to offer your Bricks at a lower price than what you paid. And you would also cop an interest penalty if you cash in early?

  • runplaywin on 19/02/2019 - 14:26

    Something is suss about this. That property previously sold for $1.04 (by private treaty) in Nov 2018 and 2 months later it is sold to Brickx for $1.25m. And a quick property price check shows the house is probably worth less than $1m using comparisons.

    • HighAndDry on 19/02/2019 - 14:35
      +1

      Problem is Brickx is buying properties using other people's money - that would decrease the motivation to bargain hard on prices somewhat.

    • argonide on 19/02/2019 - 14:44
      +2

      Brickx were the ones that purchased it in November for $1.04 million, they've then added acquisition costs and cash reserve to get to the total purchase cost of $1.132 million

  • miq on 19/02/2019 - 14:30

    Lol

    • dan0909 on 19/02/2019 - 18:40

      Lol too

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