Selling Your House in Australia A Game-Changing Approach with MyBrix

Introduction

Property owners in Australia now have a revolutionary way to borrow against their properties without interest or monthly repayments. Sydney fintech startup MyBrix has developed a blockchain-based platform that allows property owners to sell small shares of their homes’ value. This platform, positioned as a major disruptor in the market, enables property owners to sell units of value called Brix to investors, providing immediate access to funds. With each Brix representing one ten-thousandth of the property’s value, property owners can tap into their property’s equity without traditional financing constraints.

The Brainchild of Brian Stevens

MyBrix was the brainchild of Brian Stevens, the founder of software development firm TeckCraft. With years of experience providing back-end platforms for various industries, including telecommunications and financial services, Stevens saw the potential to transform the property market through fractionalisation. The idea for MyBrix originated during the lockdown period when Stevens posed the question, “What if we could borrow money with no interest?” This sparked a two-year journey to develop a platform that would revolutionize property financing.

How MyBrix Works

MyBrix facilitates the fractionalisation of property values, allowing property owners to sell shares of their properties as Brix units to investors. Each Brix is equal to one ten-thousandth of the property’s value, with a value of $100 per $1 million of property value. To attract investors, each Brix is discounted by 15% for owner-occupied homes or 10% for rental properties. This ensures that investors have a profit margin from day one.

For example, if a homeowner sells $500,000 worth of Brix on a $1 million property, and the property later sells for $1.5 million, each investor will realize a 50% return. Even if property values drop, the built-in buffer ensures that investors can still recoup their investments.

Advantages for Property Owners

One of the key advantages of MyBrix is that property owners can access funds immediately, without interest or monthly repayments. When a homeowner sells Brix, they receive the funds, minus fees and discounts, right away. There is no need to make monthly repayments, providing financial flexibility for property owners. Additionally, property owners have the option to buy back their Brix, reducing their exposure while ensuring necessary returns for investors.

Democratizing Fractionalisation

Unlike previous fractionalisation platforms that were limited to a select few properties, MyBrix is available for any property in Australia. This democratizes the financial security model, making fractionalisation accessible to everyone. MyBrix enables peer-to-peer investment on each property in Australia, without selling equity or changing ownership. Property owners remain in charge of their properties while benefiting from the flexibility and liquidity provided by fractionalisation.

Disrupting the Mortgage Market

The development of the MyBrix platform posed several complex challenges for the TeckCraft team. Building the platform on the Stellar blockchain payments platform ensured secure and transparent transactions. All transactions are logged on a private and immutable blockchain, accessible only to investors who have undergone Know Your Customer (KYC) anti-money laundering processes. TeckCraft also obtained a formal Australian financial services (AFS) license and is undergoing certification to the ISO 27001 service management standard to ensure compliance and security.

Ongoing data analysis is crucial for the success of the platform. MyBrix continuously updates and reanalyzes property values, allowing the investment structure to reflect current market conditions. Additionally, all properties in the system undergo annual revaluation to ensure accurate pricing.

The Future of MyBrix

MyBrix is now live and actively recruiting customers and investors. Brian Stevens aims to onboard 1,000 properties to the platform within a year, creating a balanced property portfolio. As the platform gains traction, MyBrix plans to launch a trading exchange for Brix, similar to public company shares. This exchange will facilitate the sale of Brix, providing liquidity and investment opportunities for investors.

Furthermore, MyBrix plans to introduce an indexed buyback plan that allows property owners to buy back their Brix at a specified price each year. This feature ensures that property owners can regain ownership of their shares while providing investors with necessary returns.

A Revolutionary Solution for Property Owners

In a market where property owners often face mortgage cliffs and prisons, MyBrix offers a disruptive and innovative solution. By leveraging fintech and blockchain technology, MyBrix empowers property owners by providing immediate access to funds without interest or monthly repayments. The flexibility and liquidity offered by fractionalisation democratize the financial security model, making it accessible to all property owners in Australia. With MyBrix, property owners can unlock the value of their properties and improve their financial position.

Bold tag: selling your house Australian.