California Fix and Flip on the blockchain...does it make sense?

[Matt R.]

Well its happened. Property Coin is tokenizing fix and flip CA residential. The new coin offering starts in a few days at $50 a pop. They plan on raising 50 million to start up and splitting fix and flip profits 50/50. Does this crypto stuff make sense for RE investors?

[Andrew Johnson]

@Matt R. I really have no clue if these guys will be great or not. All I do know is that 50% IRR is likely fueled by speculative growth in the coin "value" (quotes intentional) or an awesome lead-in for a future episode of American Greed. All I need is a Morgan Freeman voiceover with: "Pat and Debroah thought they had found the perfect investment in 2018..." Then cut to Pat and Deborah saying "I mean, I should have known it was too good to be true..." 😬