All Forum Posts by: Karolis Braciulis

That is an interesting question, Bob Ross. Many people usually recommend first-time investors to invest locally so you are able to have more of a hand in the whole process and be close by if anything happens. Tina brought up a good point on the risks you face by being further away from the property. I most definitely understand the Boston market may be tough to invest in but I still believe it is possible. At the end of the day, all that matters is your risk tolerance, most invest locally but if you manage to find a long-distance one and you are able to fly out there to check it out or on it from time to time then go for it.

The global real estate market is expected to grow from $2,687.5 billion in 2020 to $2,774.5 billion in 2021 at a compound annual growth rate of 3%. The transfer of wealth that occurs throughout real estate is unmatched, but it still operates in a very traditional way.

Cryptocurrency and the blockchain they operate on offer a solution to the traditional real estate market. The infrastructure to be able to purchase real estate already exists and there have already been completed transactions. For example, in 2017 a buyer purchased a single-family home in Texas using Bitcoin. There was also another use of Bitcoin to buy property on Lake Tahoe for 1.6 million. Many out of country investors are also very interested in utilizing such virtual currencies to diversify their holdings in United States real property.

So, therefore, yes you can use cryptocurrencies to invest in real estate, but why do more people not use it? One of the big downsides to cryptocurrencies is they are still very new. It is a new form of technology and a recent study in the U.S showed that about only 1 in 10 people understand how they work, while 29% have some knowledge about them. 81% of people have never purchased any and 35% believe they are a fad that are not worth bothering with. Based on those statistics alone it is easy to understand why they are not being more utilized in real estate transactions. For every real estate transaction, every buyer needs a seller, and the buyer and seller must be willing to transact using cryptocurrency. Those statistics alone make that seem very unlikely, but it seems in due time that will change. As many large institutions including Paypal, Grayscale, and MicroStrategy continue to pile into the space, widespread adoption keeps nearing.

As the market becomes more comfortable with the idea of virtual currencies in real estate, finding both sellers and buyers should be theoretically easier. Additionally, it is also likely the niche will develop around only a few central currencies, with the main one being Bitcoin which is seen as the digital version of gold. At the rate it is growing; one day in the future, you may be walking down the street and see a “Bitcoin Accepted” on the For Sale sign in your neighbor’s front yard.

Hello, how's it going everyone. I figured I would make a new member introduction post just so you guys may get to know me because I will be browsing these forums quite a bit. 

My name is Karolis Braciulis. I originally was born in Lithuania and moved over to the U.S when I was very young. I now reside in the Southwest Suburbs of Chicago. Some of my hobbies include snowboarding up in the mountains, hitting the gym, and collecting rare shoes. I started listening to the BP Podcast about 7 months back when my friend "put me on" to it and the knowledge and change of viewpoint I have gained from it has been worthwhile. Some of my favorite portions of the podcast include hearing about all the unique books aside from Rich Dad Poor Dad which helped many of the people on the show including myself. Due to the addictive nature of the podcast, it made me change my life's route and pursue real estate which I am much more passionate about. I went and got my real estate license so I can practice brokering deals along with allowing me to expand my knowledge on real estate and be able to get access to the coveted MLS. Long term my goals similar to a lot of other peoples here include owning multiple rental properties.

Just wanted to create a quick introduction, many of you will continue seeing my name here as I read through many posts and continuously learn more and more about the investment side of real estate. 

Thank you for reading :)