Denver, CO · Member since 2016 · 114 posts · 99 votes
I've got some bitcoins that I would like to use to purchase real estate. Are there any institutions that will accept bitcoin as downpayment for a loan?
I've got some bitcoins that I would like to use to purchase real estate. Are there any institutions that will accept bitcoin as downpayment for a loan?
Admittedly I’m not up on the new craz...what is bitcoin?
It's a decentralized digital currency. Basically a way to transact and store value without any middlemen (banks, governments, etc). It's been on a tear this year (my initial investment grew 2000% in 8 months) so I'm looking to cash some of it out into RE but I would rather pay in bitcoin directly than cash out to dollars because cashing out large amounts of bitcoin can move the markets (if I sold $1M of bitcoin I would get a lot less because the entire market would see my sell order and it would drive the price down) than if I just used it directly in a transaction.
Good luck explaining that to a seller and the Title Company. I completely understand, but most people are clueless as to what you are saying.. There are still people out there who only deal with cash, and are queasy about using credit or debit card to make purchases.
Why not liquidate your investment in small chunks, and wait for market to adjust rather than in one lump sump of $1MM. May require some patience, but trust me, this stuff is not easy for some people to follow...
My issue with that is I would have to liquidate before I would like to. A lot of deals fall through in due diligence and if I have to liquidate early I could lose out on significant gains. For example, even if I liquidated by bitcoin just a month ago, it would have lost 50% of its value.
I understand this is not easy, but this is the creative financing forum so trying to think creatively here =)
I'm afraid you are assuming that Bitcoins is not going to crash tomorrow, right? lol..
I am not Satoshi Nakamoto but Satoshi Nakamoto literally translates to "Central Intelligence" in Japanese. Let that sink in =)
Ok now this thread is really off topic lol
Thanks for everyone's input. I've actually received many inbox messages on some possible deals if something works out I will post here.
Although it may be a while as the next down cycle is probably around 2024 if you believe the 18 year business and RE cycle. That's probably the ideal time to trade a lot of BTC for RE, though I'll probably do a pilot deal before then.
I am not Satoshi Nakamoto but Satoshi Nakamoto literally translates to "Central Intelligence" in Japanese. Let that sink in =)
Ok now this thread is really off topic lol
Thanks for everyone's input. I've actually received many inbox messages on some possible deals if something works out I will post here.
Although it may be a while as the next down cycle is probably around 2024 if you believe the 18 year business and RE cycle. That's probably the ideal time to trade a lot of BTC for RE, though I'll probably do a pilot deal before then.