BrickX Avis 134

Brick-X purchased 6/10A Challis Avenue, Potts Point, NSW, 2011 in 2017 for $885000 (source realestate.com.au)
on 30 June 2022 it was valued at $885000 (source: email to brickX holders of this property)

BrickX holders now get to vote on whether this property should now be sold (for the same price it was purchased for 5 years ago)

This has to be the only property in Sydney that has not shown massive appreciation since 2017. Something doesnt add up

I've been using BrickX for a couple of years now to help kickstart my financial stability. As with anything, it takes a while to see returns and only after 2 years later with the automated smart invest, you'll start to see constant returns coming in when properties are sold. That being said, I write this review as a property was sold and I had bricks sold and wasn't aware why. Wrote an email to the BrickX team during afterhours in the hopes I'll get a response by the next morning. To my surprise, the CEO himself responded to me within minutes. Goes to show the commitment behind the platform and the team, impressed is the word.

This is such an innovative way to invest in property. It certainly offers any investor an opportunity to diversify as well as secure long term wealth for their children. Brilliant work and congratulations on launching it.

I recently stumbled onto the platform. It's a fantastic idea. It allows me to gain exposure to the property at a level and pace I can afford.
I don't have to worry about anything else other than hopefully the property market continuing to rise.
Essentially I am a landlord without needing to worry about paying for the stamp duties, bank loans, dealing with real estate agents or sometimes destructive tenants. It also allows me to cash in if my properties go up in value without any transaction fees.
It's a win win for the investors and whoever that came up with the idea.
I can see this platform being replicated overseas as it allows investors who often can't afford to get into the property markets to participate on the upside.

Great way to invest small amounts in property opportunity without leverage. Our family uses this as a way to start the conversation with our children around the importance of property and to generate interest in the portfolio. A great platrorm!

I've been using BrickX for about 18 months.  Platform works great. For me, the ability to invest small amounts in specific properties in a different market to where I own my own property is the major selling point. The platform also provides lots of data on the specific properties, including being able to sort by whether the current brick price is above or below the most recent valuation.

It is a really convenient way to get into the property market. The platform is user friendly and easy to navigate. The BrickX Team were very helpful and thoroughly explained all my investments options. Finding the whole process so far to be going very smoothly. Highly recommend!

Fees are extremely high
- entry fees and exit fees when Bricks are bought and sold
- arrangement fees on property purchases
- Loans on properties are way above market rates
- valuations are not shared anymore and valuations are way below market.

Its a scam at the end of the day. Mirco Investing for Micro returns.

Fees are super high and returns are very low - I speak from experience, my first brick was purchased Jan 17. Tax reporting gets more complicated the more properties you buy bricks in (the tax summary is per property not consolidated). Liquidity is terrible - they don't seem to understand that high transaction costs for buying and selling discourage an efficient market.

I have been using this platform for micro investment since Aug 2019 and I am pretty satisfied with the way it works. For someone like me who can only spare a couple of dollars every now and then, this platform helps me to put my little savings in properties I like. Over time I have also earned some good return (1.5% - 2%) which is much better than me leaving it in the bank account. In addition, some of my bricks have actually increased in value in this short time which encourages me a little bit more. On the flip side, withdrawing the money can be bit of a trouble especially if you need the money ASAP. The liquidity of the bricks may not be quick enough given that these need to be purchased by other investors. Its definitely a long term option and they have recently added a few great properties at affordable prices.

Don't use it!
It looks amazing unless you need to withdraw your money.
My registered bank account with them is now closed and I need to change it on the system, but the dumb system doesn't allow me to change it.
Instead, I need to contact them which I did 3 times: 2x filling up the support form and one via email.
No one has answered me within 24h as they promise on their website.
I'm trying to reach them by phone at 02 8766 0566 but it is constantly busy - not working.
This company is a complete garbage.
Non-professional, archaic...
Don't be fooled by them, take their LinkedIn profile as an example: 2 people "work" for them - 1 is the founder and other is somebody who doesn't live in Australia. Weird no?

UPDATE: Received a call from someone on behalf of the company which told me that "for security reasons you cannot change this information... bla bla bla"...
After that, he deleted my bank account details and asked me to add my updated one there.
I have done that and requested to withdraw my money - which will take from 1 to 3 business days to be completed...
Let's see...

Anyway, AVOID IT!!!
When you buy Bricks you only can take your money back if somebody buys your brick, otherwise, your money will be stuck with this company.
Luckily somebody bought my brick and that's why I'm trying hard to take my money out.

The platform looks good and is a great idea in place. However, after going through their PDS, fees seems very high. Whatever you earn through rent will mostly go to the fees. Only hope is the property value increase which is very long term yield and even if it performs good they will take 30% of it. Insane.

The BrickX team were really helpful in helping me set up my SMSF and explained really clearly my investment options – now I have my funds allocated monthly for me while I get up to date reporting on everything that happens – hassle free = A+

Having read some of these reviews I cant see why as investors we dont understand that property is a long term investment not a short term one . Its a good fun investment but like anything patience is required . I would agree new owners seem to have lost some momentum . Sales of bricks is based on buyers and not the site fault . Overall I feel this is a 5 year investment returns per property are low agreed but the real return is in increased value

Was a great platform, but since new owners have taken over there have been no new properties. The one they have in the pipeline is constantly delayed. Communication is really poor especially compared to the old owners. Starting to lose faith in what is a great idea

Great way of getting into property investment. Easy to use, low entry costs.

It's an excellent platform, very easy to use. The returns aren't great though, and if you want your money back quickly you will need to be prepared to take a hit.

Recently joined BrickX and most impressed with the platform. Extremely intuitive and easy to navigate around.
Love the concept and have also introduced the kids to it as a stepping stone into the property market.
Highly recommended!

I absolutely love Brickx soooooo much its the best thing i have ever gotten into, although i would love to see Brickx develop an app for The App Store.

Great platform with lots of data to compare property investments. Easy to use and purchase a stake in a property. I signed up, uploaded funds and purchased some bricks in a Mosman property within 15 minutes.