Crowd funding combined with easily transferred online currency, bitcoin, might set the mark for a new real estate investment strategy in today’s information age.
Article submitted by Ryan Eaton, Commercial Sales and Leasing Agent for Saurage Rotenberg Commercial Real Estate
Written by Michael J. Casey [February 4, 2014/The Wall Street Journal]
When James Canning-Cooke sold his Volkswagen van to a Russian buyer in is home of Tallinn, Estonia, the deal came with an unexpected condition: The man wanted to pay for the vehicle with bitcoin.
Although the 42-year-old expatriate Englishman’s digital-currency holdings have since doubled in value, he now is faced with the challenge of what to do with the 22 bitcoin—currently worth about $18,600, according to Coindesk’s index of three bitcoin exchanges.
Mr. Canning-Cooke may have found the answer in RealtyShares, a San Francisco startup that this week will become one of the first real-estate investment platforms to accept bitcoin. The firm, which operates a crowdfunding marketplace connecting property owners with prospective investors, will allow bitcoin investments worth as little as $1,000—or just over one bitcoin—in various property ventures listed on its site.
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Ryan Eaton joined Saurage Rotenberg Commercial Real Estate in 2011. Ryan is a graduate of Lee High School and Louisiana State Universtiy (LSU) where he earned a Bachelor of Arts degree with concentrations in business, sociology and speech communication. Ryan’s professional memberships include the Greater Baton Rouge Association of REALTORS® Commercial Investment Division, Louisiana Commercial Database (LACDB). He is also a member of the Baton Rouge Advocates for Safe Streets (BRASS).
Saurage Rotenberg Commercial Real Estate is a member of the Baton Rouge Area Chamber of Commerce (BRAC); the West Baton Rouge Chamber of Commerce; the Baton Rouge Growth Coalition; the Baton Rouge Better Business Bureau; the Louisiana Commercial Data Base (LACDB); and the International Council of Shopping Centers (ICSC). Several agents, on an individual basis, are members of the Society of Industrial and Office Realtors® (SIOR), the Certified Commercial Investment Member Institute (CCIM); the National Association of REALTORS® (NAR); and the Greater Baton Rouge Association of REALTORS® Commercial Investment Division (CID).
