After spending a weekend in Batumi I decided to take a closer look at the booming, but somehow stagnating Batumi real estate market.
At the start, I couldn't believe that there are real estate offers starting $750 per square meter. Now I have a feeling if I would look more carefully, and bargain a bit I could get something even for $500 in the new development projects.
Batumi Real Estate Crypto Investment
After contacting a few real estate developers in Batumi I was getting quite interested in buying an apartment under construction to sell once finished.
Here I made a YouTube video: Invest in Batumi real estate in Georgia?
I got a few offers, from several companies, and I focused on a small studio 26.6 m2 apartment with a price of $680/m2, with a downpayment of 30% and the rest in 24 months.
The total cost would be $18,088 once finished. For me, it doesn't seem much for an apartment, yes small, but an apartment in a seaside resort. And I believe I could sell it at $25,000 - $30,000 if there are buyers, or in the worst case to let it out. The only problem - there are zillions of such projects in Batumi and seems there are no buyers. the other question we should ask - will there be buyers in 2 years? 3 years or 5 years?
I believe, there will. As I have some interest in Batumi Real estate development I decided to crowdfund or buy together one such small unit with co-investors, and now looking for business partners/investors.
I'm looking to issue a crypto token, most likely on the Ethereum network - issuing 100 new coins, with a set value of $200 per coin. Total supply of 100 coins, a total value of $20,000. Each coin represents 1% property rights of the apartment. Investors who will buy at least 20 coins ($4,000) will have a chance to register their share of the property in their names.
If we will be able to collect for the downpayment until June 1st, 2022 - we will proceed with making a contract with the developer. If we won't be able to collect for the downpayment - funds will be released and returned to investors.
To keep up skin in the game - I will invest 20% myself and will have 20 coins.
Bounty program available - bring a friend who will invest at least 20 Coins and you will get one coin - or buy yourself 20, pay for 19
Also for the early sale - offering a 10% discount for investors who will invest in at least 5 coins (if you are buying at least 20 coins you will pay for 19 + will have a 10% discount)
We will be able to realize our profit after the project will be finished when selling the apartment. The planned term: end of 2023
In case we are selling at $25,000 - the value of one coin will be $250, in case we are selling at $30,000 value of one coin will be $300. In case we don't find a buyer, I will personally buyback 2 coins per month starting January 2024 for a set price $210
My aim with this offer is not to make a quick buck, but to make connections with like-minded investors, realize this project on smart-contract and if successful, grow this into something much bigger than just one apartment in Batumi
Interested? Feel free to contact me via blog's contact form or find me on Facebook or fill out the pre-sale token form here: Batumi Real Estate Crypto Investment
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