The Crypto Corner: Cryptocurrency & Your Real Estate Transactions
Whether it's Bitcoin or another cryptocurrency such as Litecoin, Ethereum, Ripple, Zcash, Monero, or others, this is a new field for many - and while the opportunities to do well are ample, it can be a confusing place for those new to this kind of technology. I am always here to break new technology down to my clients, to ensure that you're armed with the necessary facts to make knowledgeable and well-informed decisions when it comes to investing with cryptocurrency. First and foremost, I want my clients to know all of their options in terms of their real estate transactions, and I want them to always feel incredibly confident in the choices they make regarding their investments.
Below are some questions that I am frequently asked...
What are the benefits of using cryptocurrency for my real estate transaction?
Cryptocurrency funnels through blockchain. The advantage of using it in real estate is that you don't want to have all your coins in one basket. You can make a lot of money investing in cryptocurrency and then purchase something tangible (such as real estate). When purchasing a home with cryptocurrency, it is similar to a cash transaction. You still have to show proof of funds, pay taxes, and record title the traditional way of purchasing homes. We have an escrow company set up with Bitpay, which will convert your cryptocurrency into cash. There is an extra fee you have to pay using Bitpay to convert the coins. Also, because you have to record title with the county recorder, it is not an anonymous transaction type.
Is it safe?
There is always a risk that the cryptocurrency market will go down while you are in the transaction. Should that happen, you need to have enough cryptocurrency or cash to make up the difference. That is shown in the proof of funds.
What is the difference between cryptocurrency and bitcoin?
Cryptocurrency relates to all crypto coins. Bitcoin is just one coin out of thousands, but is the most well known and the most popular coin at this time.
What is the first thing I need to do if I want to buy property with cryptocurrency?
You need to show Proof of Funds, like with any Real Estate Transaction.
Something that I find to be of interest to many and one reason why many are motivated to engage with crypto and are utilizing this in their real estate transactions is that cryptocurrency is not governed by any governments as of yet. Once this changes, and the government becomes involved, they will start tracking it and taxing it. For those not wanting the government to know what they have, and not wanting to pay tax on it... cryptocurrency is a golden opportunity area.
This Week's Market Reports
Curious about the state of the marketing in your favorite communities? Click below for a real-time market profile for each of the below cities... Manhattan Beach, Torrance, Redondo Beach, Newport Beach, and Hermosa Beach real estate. From median list prices, to average price per sq. ft., to average days on the market (DOM), every piece of information that you need to make a well-informed investment are here!
International Expertise & Appreciation
Have you ever traveled abroad and felt a magnetic connection to that area? Perhaps you felt drawn to spending more time there, or felt inclined to purchase an investment property there. Many of my clients love spending time outside the US for both personal enjoyment as well as for business opportunities - I'm so proud to be able to help my clients market their properties and search for new investments abroad.
In addition to Palm Realty Boutique, I am proud to be part of Leverage Global Partners, an international boutique that is an extension of my Southern California-based firm. This international community of independent brokerage firms who align under shared standards of care, market expertise and service enables me to strategically promote my clients' properties to a global audience. My listings can be featured on LeverageRE.com, a curated channel of real estate and lifestyle content and promoted to a social media audience of 58,000+ followers.
Serving authentically local brokerages across 140+ major markets worldwide, Leverage unites a community of 6,100+ top producing real estate professionals including myself who share innovative strategies and tactics market-to-market.
Home Office Envy
Working from home is a beautiful thing... more time to be with your family, for some people the chance to be more productive, and above all, the ability to be on your own schedule. No matter how flexible you opt to be, the goal is to be able to be as comfortable as possible, as you're now in the comfort of your own home. Making your space as cozy and 'you' as can be is key -- your home office should spark creativity, inspire you to get your best work done and be the birthplace of your most fantastic ideas. Here are of my favorite local South Bay furniture & home decor stores to make your home office truly enviable.
I love Waterleaf home + gift for their coastal inspired finds that are consistently equal parts well-made, luxurious, and uplifting to the senses. Visit their store to explore their decorative offerings...
Artistic Habitat in Redondo Beach - Sustainable and gorgeous home decor and furniture
Maxine's by Dennees in in Redondo Beach - Interior design showroom loaded with incredible decorative finds
Quatrine in Manhattan Beach - Custom luxury furniture
Arte Finest Furniture - Custom, made to order fine wood furniture
If you'd like to have your space designed for you, look to the best...
If shopping online is your preference, click on each image below to shop chic + stylish home office supplies that will truly elevate your space!
More inspiration...
What does your ultimate home office look like? Are there any local stores you love that I missed?