A new investment platform, which promises to break down traditional property investment barriers, has announced it will now allow funds to invest superannuation into residential property for as little as $66.
BrickX is an online platform which provides investors with a new way of investing in Australian real estate. It allows investors to buy and sell ‘Bricks’ (individual interests) in specific properties on the platform, instead of needing to buy properties outright.
Originally launched to enable wholesale investors to acquire an economic interest in individual properties by trading ‘Bricks’, the chief executive of BrickX, Darren Patterson says the platform has now opened its doors to Australian SMSF
s due to growing demand.
“Gone are the days of trustees having to scroll through real estate listings, attend auctions, appoint buyers’ agents or spend countless more hours trying to successfully complete a transaction,” he said.
“Through BrickX, people can invest into carefully selected residential properties literally from the comfort of their own home or office.
“We expect that the hassle-free nature of the platform will prove to be an attractive channel for SMSF
s to gain exposure to the Australian real estate market.”
According to ATO statistics, 16% of all SMSF
assets are holdings of direct Australian property, as at December 2014. Almost 4% of total SMSF
assets are holdings of residential property specifically.
Patterson has announced that BrickX will now begin promoting the platform and its benefits to trustees and their advisors through advertising and digital channels.
“The BrickX platform will break down traditional property investment barriers and will help facilitate greater state-to-state investments moving forward.
“I believe that SMSF
trustees by their very nature have an appetite for diversity and appreciate freedom around investment choices.
“BrickX has created a new asset class that we believe will satisfy many of the investment desires of SMSF
trustees and their advisors across the country.”
Dividends derived from the properties’ yields are distributed to investors on a monthly basis.