It has been an incredible year for Bricksave. The impact that equity crowdfunding has had on the real estate market is revolutionary, and the expansion of our user base demonstrates how the financial world is embracing this new, more democratised version of investment.
Almost exactly a year ago, we launched our brand new website, complete with a new investment dashboard and online transaction system that uses Stripe and internationally recognised identity verification software Contego.
Over 2.2 million dollars worth of real estate investment has now been made through Bricksave making us the leading real estate Crowdfunding platform in the country. To achieve this, we built a world-class team that developed the platform, sourced the right properties, and ensured that crowdfunders got the best returns possible. We even managed to establish a proprietary sourcing channel through our relationships with developers, which allowed us to offer properties for investment with a 10-15% discount on market rates. This means that even if real estate markets do not appreciate, our crowdfunders will still make an unleveraged return on the properties.
Miami has been one of our major success stories so far: two properties have been fully funded, with another currently standing at 52% funded, and expected to close before the end of this month. Our first funded Miami property, Apt. 3503 in the Millecento building in Brickell, returned more than 50% higher than originally forecasted in the first six months.
Our strong commitment to the potential of the Latin American market has also paid dividends over the course of the year, we were even invited to consult the Argentinian Comisión Nacional de Valores on new crowdfunding legislation so that the country can keep up with the current tectonic shifts in the investment market. Our suggestion was more stringent controls on platforms, as well as a lowering of costs for the user, the ultimate aim being to make Argentina a regional leader in crowdfunding legislation.
But there are more things to come in the year ahead. We are constantly scouring the global property market for new investment opportunities, and we will shortly be launching properties in New York, Vienna, Hong Kong and other leading cities around the world. Roll on the next 12 months!
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