Bricklet: New property platform allows investors to spend as little as $21k on a property

Rhys Richards has invested $ 23,000 in Bricklet. Photo: David Swift

Well-meaning investors enthusiastic about hacking the housing market are now able to support the affordable housing sector while launching a portfolio at new small car prices.

Lakeba’s fragmented real estate platform, Bricklet, has partnered with Evolve Housing to give buyers the opportunity to buy individual real estate shares and increase their investment in affordable accommodation for low-income earners. I will. The partnership will begin with the 18 Townhouse project in Rydarmia. In this project, each house is made up of $ 21,400 “brick”.

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Buyers camp for two days to secure a home

First-time buyer Rhys Richards said investing in bricklets is a faster way to get on the real estate ladder, not later. “I’ve always been interested in real estate, but saving for deposits is getting harder and harder,” said a 39-year-old man.

Rydal Mia’s 18 Townhouse Project. Each house is made up of $ 21,400 bricks.

“This was the first step to my market and seemed like a good way to put my money into something and let someone else manage the assets. If you bought it the traditional way, You could have saved another five years. “

While such micro-investment platforms are open to all investors, Bricklet CEO Darren Younger said it was particularly attractive to first-time buyers.

“Looking at where interest rates are and where they’re going in the next 12 months is actually a negative position for anyone trying to save money,” he said. “When your money is in the bank, not the property, it’s the growth of capital you’re missing.

It will also appeal to first-time purchasers.

If the market rises 10 percent while you’re trying to save, where does it leave you? On the other hand, if you save the first $ 20,000 and have the opportunity to use it, you can start building your Bricklet portfolio until it’s big enough to act as a home deposit. ” He said.

Richards said the social aspects of the acquisition of Rydolmia development appealed to him. “I like the idea that this project will be used for affordable homes, because I know there is long-term security for having a tenant. That particular property will be the best rent. It may not be, but don’t worry, someone could be there for a long time, “he said.

Real estate investor spending $ 23,000

It was Richard’s first step into the market. Photo: David Swift

Younger said the outlook for long-term rentals is a drawcard for Sydney investors who may have been surprised by recent reports of rising vacancy rates.

“Post-covid occupancy is becoming more important than rent. Also, affordable homes have a waiting list, which means they’re always close to 100% occupancy. If someone moves, they’re straight. There are likely to be people waiting to move to, and they are a new property that is well cared for. No one wants to be kicked out and has to go back to the waiting list, “he said. Said.

Place of originBricklet: New property platform allows investors to spend as little as $21k on a property

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