All Forum Posts by: Andres Vanegas

I highly doubt we will see a Bitcoin board pop up on BP. I remember looking a while back for some info on REITs there were literally like 5 posts. Simply put this is an RE investment site/forum, not a general investment site/forum.

I second @Michael Flight for the need for a blockchain section. The technology will be revolutionizing all industries including RE. Think instant title reports, instant title transfers, instant loans, and more. We are already seeing the beginnings of this with DeFi (for loans) and NFTs(for property sales).

Could we get a blockchain section so the BP community can stay ahead of the ball on this @Mindy Jensen?

Hey Jorge- not sure what crypto you're investing in but 20% is awful in six months simply because the market has been booming. Ether is up about 400% and Bitcoin is up 300% since December. I think it is easy to say that crypto ROI is definitely greater than most of not all RE deals.

What is not caught in that analysis is risk. RE is exponentially safer than crypto. You can project what you expect to make if you are experienced with RE. Tough to say the same for crypto.

In conclusion - crypto higher risk higher rewards. RE less risk, less rewards.

Awesome- best of luck!

@Noah Milstein my money is being “spent”/collateralized/ utilized when it is locked in the vault. And twice as much when compared to a straightforward cash 100k purchase. Deflation ok but the price fluctuations with crypto and possible liquidation is not ideal.

Also - the security of these Defi protocols is questionable at the moment. Smart contract risk as well as inherent built in centralization could result in the loss of all your funds.

I think there will be a time and a place for Defi and real estate. I don’t think Alchemix for a loan that you don’t need is it.

@Noah Milstein why would I use Alchemix to get the loan in the first place? Why wouldn’t I just use the 100k cash/crypto I have to purchase the property instead of locking up 200k of funds? Seems like I’m missing out on putting my other 100k to work just to get an over collateralized loan that I don’t need. Interested to hear your thoughts!

Not really the focus of this forum. There’s not even much info on REITs. Reddit is a good place to start! Best of luck!

Have a similar thread running here @Mauricio Sanchez - https://www.biggerpockets.com/...

@Matt R. What service? Coinbase does that for BTC at 8% interest only for a year. Not familiar with any others.

I think the bank may have some more trouble with that no? Maybe since it is an asset secured loan they may let it fly.

60 day seasoning of cash in the bank seems the safest route at the moment. Even though it is fairly straight forward to demonstrate custody through Coinbase now. It also brings a sense of legitimatcy now that they are public.

@Taylor L. - yep that is the plan! In my initial property purchases I have had to source where the down payment funds have come from. Since it would be coming from a crypto exchange (Gemini, Coinbase, Kraken) - services which may not be typical for a traditional bank, I was hoping to catch someone that had had some experience doing so and see if there were actual issues or not. I hope that makes sense.

Hello!

Just wanted to reach out to the community and see if anyone had sourced some or all of their down payment funds from cryptocurrency (bitcoin, ether, ltc). As you may know there has been an explosion in prices recently and I would love to purchase another property using some of these funds. Has anyone had any luck with this? Would love to hear your story!