I'm trying to drum up this conversation as I have only seen limited info on it on BP and I feel like I have a good idea. I am making my start in investing as a whole in the Quad Cities. For those of you familiar with the area, you know there is a ton of potential here! There are multi-million dollar homes here and there are homes on the Illinois side that are literally free if you pay the back property taxes. My vision entails improving my community, building multiple streams of passive income and incorporating an ever growing technology that I strongly believe is going nowhere but up. If you've heard of or kept track of Bitcoin (Or other cryptocurrencies) lately, you know what I am talking about. I am interested in networking with investors from all over the place that are interested in high returns on lower (In comparison) investments. Your investment could be as simple as buying a cheap server that we manage for your own passive income, or buying an entire facility that can be rented to other miners with little upkeep. Maybe you even want to do an Airbnb/server hybrid house! The possibilities are tremendous. I currently work in IT and want to take some of my roots with me before I jump head first into real estate. I can't help but feel like a young Josh Dorkin! :)
What we need help with:
There is absolutely no way this can all be done by one person. If you hold the key to any part of this equation, I want to hear from you! If you're unfamiliar with cryptocurrency mining, I would highly suggest looking into it. I would also suggest looking at the facts and not the trash that CNBC, Fox, and all the other major networks that are in bed with Goldman Sachs have to say about it! The fact that cryptocurrency has the redundancy and potential to take the big banks and governments out of the equation has them grasping at straws. Let the games begin!
So what is it that combines property investing and currency mining? I am not against either but also do not see how one makes the other better in combination. What are you imagining?
Hi Phil, sorry if that was too broad. I imagine taking houses that otherwise don't have a chance (Most on the Illinois side) and bringing them up to code to house cryptocurrency mining equipment. In addition to having your own hardware, you could rent rooms out to other miners or even airbnb guests. Since most of the properties would be practically free; overhead, property tax and renovations would be the only expenses.
How does the power cost compare on different side of the river?
Interesting concept. I have 2 groups of Bitcoin miner funds(?) and they are looking for commercial buildings to go into. The issue I'm running into is they seem to volatile of industries to rent to though.
@Kyle Wright Iowa is definitely cheaper. Their properties are typically more expensive but this is a good point to consider.
@Virgil Nethercott The reason that combining homes with data centers interests me is that if for any reason all falls down with cryptocurrency, you still have a practical building you can do something with (Rental, Flip, Airbnb, etc). When you say you have 2 groups, What do you mean exactly?
2 groups of bitcoin miners who seek out people to invest money into it, they manage everything from location, power, maintence and take 10% of the net and send everything left to the investors. I think that is what you are doing?
I know Brandon keeps saying to stay out of Bitcoin, but I've been into cryptocurrency for a while. There's tons of innovation going on, and while it's volatile at the moment, I also believe it's going nowhere but up in the mid/long term. Although with BTC specifically it will be interesting to see what happens with the Segwit2x hard fork later this month. Again, volatility is the name of the game at the moment, but not much came of the last two forks, so I'm optimistic that relative stability will continue in the short term.
I've been thinking about what can be done to incorporate the blockchain with other industries. Like you, I come from IT and I'm moving to RE, so obviously I'm thinking first about how the RE world can benefit from crypto and vice versa. In addition, I've researched the quad cities a bit in the past, for out of state RE investment opportunities.
I'm definitely interested in hearing more details about your ideas, as well as seeing what ideas/help I can offer.
I found this thread by searching for it. I am also very interested in both cryptocurrency and real estate.
Here is a list I found of different Real Estate Coins and their models:
There are certainly some interesting ones on here. I can see future potential in all this.
Here's a company in Phoenix doing something similiar to what you are proposing: