Courtesy of Mish.
Consider BrickX, a new way of fractional home ownership in Australia, brick by brick, literally.
Can’t afford a home? BrickX will let you buy a single “brick” of a designated house for a mere $100 or so. You pay $1.75% buying bricks and another $1.75% when selling bricks.
Fractional Home Ownership
Please consider New Breed of House Buying: No Inspection, No Auction, $100 a Brick
WANNABE property investors now have another option for getting a toehold in the booming Sydney property market. A new company is selling houses just one brick at a time.
The BrickX investment scheme which launched officially today is billed as Australia’s first stock exchange for residential property, offering part ownership via buying single ‘bricks’, which start at $67, under a system called ‘fractional ownership”.
BrickX works by buying a property, then splitting it into 10,000 ‘bricks’. Prospective investors can go onto their website to check out the properties (currently there are five, including in Sydneys Enmore, Mosman and as of last week, Double Bay, and Melbourne’s Prahan, and the aim is to have 100).
BrickX Model
Inquiring minds are diving into the BrickX Model.
Example BrickX Property
