They will be quickly acquired by larger and more sophisticated investors and not offered to the public.The decentralization of ownership through tokenization may paradoxically lead to a concentration of ownership, control, and profits in the hands of large institutional investors, and will lower return rates for shareholders.My PredictionWithin 100 years, most commercial U.S. real estate will be controlled by BlackRock and Vanguard, with major token-holders being retirement account and pension owners.

We never tie our bonuses to conditions, though there are a few times when we wish we did.I'm going to talk to my wife about whether a higher co-op makes sense given the scenario you presented and the perception some agents may have with bonuses...Thanks for the info!

I want to share what I believe is a powerful commentary from Peter Giardini about not only the impact of government intervention on the landlord business, but also the perception of landlords as big bad evil rich people - out there to hold down the little guy.Please take a few minutes to read it and leave your feedback there for Pete and all the other readers to see.Government Intervention — and We Landlords are The Targets!

Remember perception is reality for many.I do not know your specific market plan.

How many lives are being destroyed by the perception that 'its easy' or 'all it takes is hard work' or 'house prices are low and interest rates are low, you can't go wrong' or 'real estate is way better than the stock market' ?

In markets like ours, you could have 4 subdivisions with 200K homes, new construction that could be selling like hot cakes that will skew that perception, you rehabbed 1982 ranch may or may not compete, and usually won't even if you sunk 100K in it.The objective measures to valuation, market activity, inventor supplies and housing needs have been around about a hundred years, technology hasn't and won't change the approach but can make things easier.

There are so many reasons, but here are some of the highlights:  (1) they are valued on the sales comp. approach; (2) they are hard to finance because they are valued on the sales comp. approach (comps are hard to find); (3) it's much harder to find deals on them (more sophisticated owners with inflated senses of value); (4) they tend to be clumped together as opposed to interspersed in SFRs, the result is that other landlords actions have a much more significant impact on the operation of your property; (5) you don't achieve any economies of scale (they're too small); (6) they are more management intensive (anytime people share walls, there's always going to be drama); (7) they tend to be illiquid (see point 2); (8) they have more turnover than SFRs; (9) unless you're getting good deal on one, they don't cash flow that well; (10) a lot of them have owner paid water.  

Also please don't forget we are talking about Toledo and Dayton, Ohio.These cities are much smaller than Memphis and have also been over the years ranked numerous times as the most affordable in the country compared to incomes.Feel free to read my blog about my perception on the different asset classes.http://www.biggerpockets.com/renewsblog/2014/06/28/abcs-real-estate-asset-classes/Thanks and have a great day.

It takes a sophisticated investor to actually create real value from just the purchase.

The reason the more sophisticated note sellers do not want to engage an intermediary is that they can go direct to the source (direct buyers) themselves and avoid the middleman fee.