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No Transaction Fees $0 to Buy Bricks (Normally 1.75%) @ BrickX Property Platform

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No Transaction Fees $0 to Buy Bricks (Normally 1.75%) @ BrickX Property Platform
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AssociatedLJamie from BrickX on 09/11/2018 - 11:31 brickx.com (300 clicks)
Last edited 09/11/2018 - 11:35 by 2 other users

Hi guys, Jamie from BrickX here. We’re excited to announce that there will be no transaction fees when buying Bricks from today until 20 November 2018.

Usually we charge a 1.75% transaction fee when you buy and sell Bricks. We’re waiving the buy fee, to give your investment a head start. This offer’s available across all Bricks, in all properties, for new and existing BrickX investors

Haven’t heard of BrickX?
- BrickX is an aware winning platform that provides a simple and low cost way to access the property market.
- You can instantly own Bricks in quality properties, hand-picked by our specialist property team.
- As the value of the property changes, so does the value of your Bricks.
- You can list your Bricks for sale at anytime.

Offer ends 20 November 2018, T&Cs apply.

Financial Brickx Fintech Investment Property Investment

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BrickX
BrickX

closed Comments

  • iamhurtin on 09/11/2018 - 11:34
    +3

    If say, for any reason I needed to throw a brick through a window, how quickly am I able to access my brick?

    I'd hate to sober up before it arrives.

    • kungfupanda on 09/11/2018 - 12:00

      I think you can access your "brick" instantly, but you can't use it to throw through a window :) only can see it thru the browser on Windows (XP, 7, 8 or 10) or other operating systems e.g. UNIX, LINUX.

    • AssociatedJamie from BrickX @ BrickX on 09/11/2018 - 12:04
      +1

      hahaha, well our average sale time for Bricks since launch has been 23hours and your free to sell your Bricks at any time. Your window however may take a little longer to repair…

  • dcep on 09/11/2018 - 11:39
    +1

    Heheheh

    There are cracks start appearing on the bricks now.

  • Punkboy on 09/11/2018 - 11:51
    +1

    Security and accessibility depends on your investment in the mortarz platform.

    • PlasticSpaceman on 09/11/2018 - 12:13
      +10

      It's much better than the previous startups "Strawz" and "Stix" which had a hostile take over by BBWolf Enterprises….. ;-)

  • Stivo on 09/11/2018 - 11:59
    -4

    Wtf is this? Your a broker for bricks?

    • AssociatedJamie from BrickX @ BrickX on 09/11/2018 - 12:08
      +2

      Hey Stivo, unfortunately we can't sell you any physical Bricks. BrickX however allows you to invest in Bricks which represent a faction of a property. As a Brick owner you will be entitled to any capital returns and rental income from that particular property. If you have any other questions you can get in touch at [email protected]

  • MJ1 on 09/11/2018 - 12:01

    Really interesting business. Is there any way to leverage brick investments (not just through mortgages)? Also, given the extreme negative volatility at the moment at this point in time, I think if you are looking for new business then you might need to value properties more frequently.

  • PlasticSpaceman on 09/11/2018 - 12:10
    +1

    So, it's basically a managed property trust/fund run by a small privately owned business where the units have been called 'bricks'. Thanks, and an interesting idea, but pass.

    • thirtysixd on 09/11/2018 - 16:24

      yep basically less liquidity than an etf/listed fund

      and used to have higher fees (now i dont know)

  • RubenM on 09/11/2018 - 12:12
    +3

    Dreadful way of "investing" in property. I'm a property investor myself and I know that no one that's serious about property investing would ever buy into this.

    It sounds like there's still a 1.75% fee when you sell, which you're kind of trying to hide.

    Down voting based on the fact that it's actually terrible value and much, much worse than investing in property yourself.

    • Perthguy on 09/11/2018 - 12:25

      Hey spludgey ;-)

      • RubenM on 09/11/2018 - 12:27

        I think I know you from somewhere… ;)

        • Perthguy on 09/11/2018 - 12:36
          +1

          ;-)

          I haven't logged in for a while. I got trolled again and just thought… I actually don't need this. Guy reckoned that $151k after fees and taxes was less than $26k after fees and taxes but would not post a single number to prove it. I have better things to do with my day than argue with people that stupid :P

        • bunnybash on 10/11/2018 - 09:45

          Probably from Perth…

    • seb on 09/11/2018 - 12:32
      +2

      To be honest I haven't looked into this but for some people who don't have $300k or $600k Or $1m hanging around the house or accessible via a loan, to invest by buying a property, this could be an alternative by investing a manageable amount of money.

      I understand that you have provided your "opinion" that it is terrible, but you haven't really explained why. Can you support that opinion with any data? Thanks.

      • RubenM on 09/11/2018 - 13:27
        +1

        First property I bought cost me around $50k out of pocket. Yes, it's more than say $100 for Brix, but it's also a lot less than the numbers that you've given us.

        The reason that real estate makes for a great investment is because of leverage. If you ignore leverage, I’d be definitely be looking for a different asset class, such as shares. Most people buy shares without leverage and do very well out of it. Not only do you get capital growth, but often you might get a dividend.
        Let’s look at the recent property cycle where values went up by well over 50% in Sydney and Melbourne over the course of four years. Amazing for property, but for shares it’s not that uncommon.

        Where property comes into its own is when you can use leverage. Given that it’s gotten harder to get funding, let’s stick with an 80% LVR. So you only have to put 25% down (5% costs) to purchase a property.
        So let’s say (and this is a very simplified example) that you bought a $1M property before the boom and it went up 50%. You paid $250k and your equity is now $700k. That’s a return of investment of 280%. That is something that low risk shares will struggle to achieve in the same time.

        In summary, if you lose leverage, real estate really doesn’t make for a great investment. Plus all the fees and charges the Brickx charge (buying and selling, management fees), make it even less attractive in my book to use this strategy.

        • homersyd on 09/11/2018 - 16:24

          sorry my maths is not the best but if you paid $250k and the value gone up to $1.5M doesnt that means your equity would be 750k?

        • grips on 09/11/2018 - 17:30

          And what about the interest you paid while holding the property?

          • RubenM on 09/11/2018 - 18:58

            @grips: I said it was oversimplified.
            There's interest, rent, rates, fees, insurance, depreciation, tax, maintenance, etc to consider, but that would have made my post ten times as long.

        • seb on 10/11/2018 - 11:38

          That's a little more data, so a more helpful response. My point was about "access" to the money, not about having the actual money. In your example, not many people have $250k hanging around to get the 80% LVR, or even $125k for a $500k property.

          I'm all for property investment but I'm questioning your neg of this offer.

          I still haven't looked into Brickxx myself but you quote 5% costs to purchase a property "normally", plus 20% cash. There are also maintenance costs, rates, interest, repairs, etc and selling costs as well. So I'm curious if you have actually looked into Brikxx product and how the costs and potential returns compare.

          I'd be appreciative of a comparison from someone actually experienced in these matters so your analysis could be very helpful to those considering this "deal". Thanks

          • RubenM on 10/11/2018 - 20:21

            @seb: Real estate without leverage (and with greatly reduced rental income, in the case of Brickx) is outperformed by shares and other forms of investing. You're not getting a foothold in the property market either, even though they claim this (I believe).
            If you buy Brickx now, I would assume that you'd be making a loss over the next few years, given that most of their properties are in Sydney and Melbourne. The Adelaide ones might be a bit better, but I don't think you'll see that much growth either.
            Plus what happens if they go into receivership? Your Brickx would likely become worthless.

    • leTintin on 09/11/2018 - 12:33
      +2

      a simple and low cost way to access the property market

      I guess that is their point of difference, investing in property yourself is neither simple or low cost.

  • beeawwb on 09/11/2018 - 13:14
    +2

    So… it's a mirco-investing platform but only dealing in property, rather than in (say) an ETF?

  • cwongtech on 09/11/2018 - 13:26

    Property market getting stagnant hey..

  • [Deactivated] on 09/11/2018 - 13:43

    Why would you invest in property whilst its at its peak, just started falling?

    Cover the cost of those looking to exit the scheme?

    • RubenM on 09/11/2018 - 14:19
      +1

      That's exactly the reason that they're getting rid of the buying fees, there's not enough "bigger fools" out there.

      • [Deactivated] on 09/11/2018 - 17:58

        Yes it seems like a ponsy scheme to me. But the middle men, like stockbrokers make money whem the market is moving in either direction….so long as it's moving.

        Good luck to them. I'm getting bored of sticking up for people losing money because they're silly.

        • cwongtech on 10/11/2018 - 16:13

          Real estate agents are the stockbrokers in property.

  • nickeveli on 09/11/2018 - 14:46
    +1

    Can I short this?

  • grips on 09/11/2018 - 17:32

    Why do you want to catch a falling knife?

  • [Deactivated] on 09/11/2018 - 20:21

    Wth is this? Do you have blocks too?

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