Is it easy to buy tokenized real estate on Realt?
That is not a straightforward question to answer. Some aspects of the process are easy while others may turn out to be a little frustrating. Although, not enough to put you off investing in blockchain tokenized real estate on Realt.
What is blockchain real estate tokenization?
This is a process through which you change a traditional asset, in this case real estate, to a digital asset, using blockchain technology. Your asset can then be tokenized.
After this, you can sell the tokens to investors, as fractional real estate ownership. You can read a more in depth description in our related article, blockchain real estate tokenization.
Buy tokenized real estate on Realt
I first got the idea for this article after winning $120 while doing a review on Betfury casino dapp. I thought it a better idea to invest this unexpected bonus, rather than gambling it.
Therefore, I sent my Tron winnings to my Binance account in preparation for investing in blockchain tokenized real estate with Realt.
Realt.co is a real estate tokenization platform where you can invest in properties in the U.S.A. through fractional ownership.
Once bought, your ownership of digital asset is recorded on the Ethereum blockchain.
Sign up to Realt.
Before, you sign up to buy tokenized real estate on Realt, make sure to have a file of the lower half of your passport.
You first sign up with your email address. Then, you need to fill in the usual data. This includes your date of birth, billing address and Ethereum wallet.
If you do not have an Ethereum wallet they recommend you use Argent wallet for smartphones and Metamask for browsers.
Alternatively, you can set up an Ethereum wallet on the site. Once you have obtained a wallet you can then do a check to verify if it is valid.
Finally, for verification purposes, you need to upload a selfie and the lower half of your passport ID page.
They say verification usually takes less than 24 hours. My verification took 16 hours. Residents of the USA cannot purchase real estate tokens until their ID has been verified. However, non-residents do not have to wait for verification and can proceed to purchase tokenized real estate on Realt.
After further reading, I realized that you also need to sign up to Coinbase, for paying with crypto. This was a simple matter of signing up with an email and verifying via your phone number. However, if you are paying with a credit card this is not necessary.
At this stage you are ready to start investing. In preparation for my first tokenized real estate investment I bought Ethereum with my Tron coins and sent it to my new Coinbase account.
Now that you are all set, it is time to browse the blockchain tokenized properties and buy tokenized real estate on Realt . However, that may take longer than you think. I actually had to wait 2 weeks before being able to make a purchase and finish this article.
Okay, I found a property. Actually, it is the only property available. This is because any properties that come on the market are quickly snatched up. I have observed this since writing a previous article related to blockchain and real estate.
On a side note, whilst waiting for a property to become available I joined their Telegram group. I noted that it has over a 1000 members and it is very active. Therefore, be patient.
So, when you find a property to invest in, you click on pay via Coinbase. You are then sent to The Realt Coinbase account where you choose to pay using 1 of 7 coins. These include Ethereum, Bitcoin, and Litecoin. You then transfer the coin to the Realt account. For me the transaction was complete within 2 minutes.
In addition, an email is sent to you with documents to sign from HelloSign. These are the legal documents that connect the tokens to the property. Furthermore, they show the legal features of the property ownership.
Once, you have returned the legal documents, your tokens will be sent to your Ethereum wallet. Then rental payments begin within 24 hours.
You are now a blockchain tokenized real estate investor.
My first Buy tokenized real estate on Realt
Here you can see the property I bought tokens in. It is not a mansion and is situated in Detroit Michigan, which is quite a depressed city. But from an investment point of view it has a few pluses. These include the fact that I have sitting tenants who are on Section 8 and get 100% of their rent subsidized by HUD. Moreover, the expected yield is 11.46% per year.
As can be seen from my experience, you cannot just buy tokenized real estate on Realt (or any other real estate tokenization platform) on a whim. It takes a little planning and patience. This said the delay gives you more time to DYOR on potential properties.
On the whole though, once you are set up it is a very simple transaction and all future transactions will be just a few clicks away.
Another, problem is the lack of properties available. Then again, we must realize that anybody investing at the moment are early adopters. So as people become aware of fractional ownership then there will be more liquidity in the market. This should increase the value of your tokens as they become more scarce.
I personally have enjoyed the ride. I am now the proud owner of my first Real estate tokens and have started get paid as a landlord.
Realt are among the companies at the vanguard of this new industry and I can see them growing exponentially in the future.
Why not start your journey investing in tokenized real estate by signing up to Realt.co real estate tokenization platform.