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Protected: How I Knew to Buy Lots of Bitcoins in 2013
How Bitcoin Turns a $300,000 Condo into a $5 Million Multi-Family Income Property
ASK COREY
How we helped residential investors to turn $300,000 properties into $5 million of bitcoin, which can then be used to buy a more valuable property:
- Q: Could you briefly describe the overall strategy you used to convert $300,000 properties into $5 million worth of Bitcoin? A: In the last 12 years, Los Angeles real estate has increased in value about 200% to 300%, but some properties have not increased in value that much. Bitcoin has increased about 5,000,000% during that same time. When an investor who owns multiple investment properties sells one to buy Bitcoin, the investors can gain more than an order of magnitude more ROI.
- Q: How did you first identify or source the $300,000 properties for your residential investors? A: Some of my clients own more than one property, others are considering buying more than one.
- Q: Can you explain the processes you followed to increase the value of these properties before selling them? A: Increasing the value of the properties is not as important as moving the money to a more lucrative source of ROI generation. That is Bitcoin.
- Q: What are some of the techniques or methods you used to increase the value of the properties you invested in? A: It is understandable that the public is stuck on the idea of real estate profits, even in a depressed real estate market. The idea is to be flexible, think of that is happening now, over the last 12 years, and make new types of investments.
- Q: How did you decide on the appropriate time to sell the properties to maximize profits? A: The sooner an investors sells an excess property, the sooner the investor can benefit from the superior gains of Bitcoin. These volatility, fluctuations and gain decrease over time.
- Q: Can you explain how the sales of these properties were converted into Bitcoin? Were there any particular platforms or tools you used? A: Call the Corey Chambers Real Estate Team to sell properties, and Corey will help provide free or inexpensive consultation regarding how to invest, how and when to cash out of Bitcoin.
- Q: How did you handle the volatility and inherent risk of Bitcoin as part of this investment strategy? A: Buying low and selling high is a key component of many investments, including Bitcoin. Understanding the historic chart, the short-term fluctuations and long-term prospects is key to good results. Protecting the Bitcoin from loss and hacking is vital as well.
- Q: What legal and tax considerations did you and your investors need to be aware of when converting property assets into cryptocurrency? A: Talk to a tax advisor regarding taxes. Paying a 50% tax on real estate gain, for example, is more than worth it when achieving a 500% gain on the Bitcoin.
- Q: How did you educate your investors about the potential risks and rewards of this kind of property-to-Bitcoin investment strategy? A: Risk and reward are usually correlated. A high-return investment such as Bitcoin entails higher risk. That’s why the sale of real estate for purchase of Bitcoin are suggested for sophisticated investors who own multiple investment properties.
- Q: What results have you seen from this strategy so far, and what are your future plans or goals for this approach? A: We’ve seen the sale of a $300,000 property, invested into Bitcoin turn into more than $5 million in Bitcoin assets, which can quickly be converted into cash. Even after paying high taxes, the net profit is an order of magnitude. Use that windfall of cash to celebrate, then buy a much more profitable multi-family income property.
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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker DRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Text and photos created or modified by artificial intelligence. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.