Global Reit ICO- Sharia Compliant
I've wrote about this ICO before but after seeing it's quickly managed to sell around $12 million worth of tokens I thought it would be worth another look.
Check their website to see the token sale progress
How many people around the world would love to be involved in investing in real estate but are unsure as to how they go about it, or are short of the cash that would allow them to fulfil their dreams? In fact, you might very well be one of those people but are put off by the large price tag leading to you seeing it as some kind of fantasy.
That thought has to be pretty depressing, but there may very well be a different solution out there that could help to turn all of this into a cool reality. That solution is called Global Reit, and they are looking at using the power of blockchain technology combined with real estate investment to offer a product that could open up the door to a whole new career for you.
Using the REIT Structure to Your Advantage
REIT stands for Real Estate Investment Trusts, and that should give a clue as to the approach that they tend to take. With this, you can join an association which then invests in a property portfolio with you earning a revenue in response to the number of ‘shares’ that you own.
This is going to allow people to begin investing in real estate without them having to risk as much money at the one time or having to deal with the rather extensive amount of paperwork that comes with it. Instead, what happens is you purchase tokens for Global REIT and allow them to pretty much do the rest. Once you do that, you sit back and make revenue from your shares on a regular basis, which does sound rather cool when you stop and think about it.
How This All Works
The one potential problem with this is that it does sound as if it could be too good to be true, and you have probably been told over and over again to be wary of such a deal. Well, this appears to be one of those rare occasions where there’s no need for you to be as wary as you may have otherwise been.
Instead, the team behind the project has been pretty transparent when it comes to the way in which everything works, and you do not even have to be some kind of property expert to understand it.
What happens is that there are two different types of tokens being produced by the company with one being called GREM and the other GRET. Now, don’t worry as this is still easy to follow, and actually with them breaking it up into two tokens it is even easier than it could have otherwise been.
For this, GRET refers to asset tokens that can be traded on crypto-exchanges while GREM will be the token that allows you to go ahead and make money from the dividends created by the property. In other words, you can choose as to whether or not you want to go down the real estate line or trade the tokens on the open market.
Having this option made available to you is pretty cool, but owners of either token will also be able to take part in receiving free stays at the properties in the portfolio. The only downside with this is that you do need to have at least 5000 tokens, which can be mixed between the two, for you to then qualify, so they are clearly looking after the more serious investor than someone just dabbling in it.
Will Global REIT Work?
So, this is the big question, will Global REIT actually work? Well, the REIT concept is not new, so they are hardly re-inventing the wheel making it difficult to see how it wouldn’t then be a success. All they are doing is using cryptocurrency and the blockchain as an investment opportunity rather than having people purchasing shares using the more traditional approaches. However the fact that they're Sharia compliant is an obvious major plus point.
They are deliberately not trying to complicate matters as that will make it more likely that people will want to invest rather than running away from the opportunity.
The very idea of effectively owning small pieces of property around the world is certainly going to interest people, and for those that wish to jump on that particular bandwagon, then the only option is to purchase tokens. In other words, if you are quick enough to grab some during the ICO and Global REIT then really pushes the fact that the first properties are in Dubai, then those tokens are potentially going to be like gold dust in your digital wallet. When you look at it from that perspective, it will be easy to see how you could quickly turn a profit on your initial investment if that is what you would like to do.
ANN thread: https://bitcointalk.org/index.php?topic=3341986.msg34966361#msg34966361
Bounty thread: https://bitcointalk.org/index.php?topic=3352552.0
Profile link: https://bitcointalk.org/index.php?action=profile;u=1153986
ETH address: 0xA47772062D4BCBDD331dc351eAc8d6ea5893Ff01