THE BUILDINGBITS MISSION
BuildingBITs' mission is to provide equal access to opportunities in the commercial real estate for all investors, accredited and non-accredited, professional and beginner, institutional and individual, foreign and domestic, irrespective of their physical location or financial wherewithal.
THE BUILDINGBITS OBJECTIVE
The company’s objective is to become a leading global real estate platform for property owners and real estate investors, with a primary focus on income-producing commercial real estate, and geared at individual (retail) non-accredited investors.
THE BUILDINGBITS STORY
The BuildingBITs story began long before the company was ever founded. As is usually the case, this story also starts with a big dream, the audacious vision of one person to eliminate barriers and break through walls. Before founding BuildingBits, the CEO, Alexander Aginsky, worked with high net-worth individuals all over the world who wanted to invest in and acquire U.S. properties that would preserve their wealth, diversify their income, and ensure the well-being of their children for many decades to come. These well-to-do families not only had the means to spend millions of dollars on the best U.S. assets, but they also had the access through the services of his predecessor company, which curated the best assets for them to choose from, conducted due diligence on those assets, brokered the deals, and then went on to manage those buildings after the acquisition. It seemed unfair that someone not quite as wealthy, but someone who was also smart and hardworking, someone who may have lived in the same town as those buildings, someone who may have saved up their pennies, but who didn’t have millions yet, wouldn’t have the same opportunity or access and benefit from those types of investments.
Mr. Aginsky was looking for a way to make the same products and services accessible to all and he finally got his chance when on March 25, 2015, the Securities and Exchange Commission adopted final rules to implement Section 401 of the Jumpstart Our Business Startups Act (JOBS ACT) by expanding Regulation A. For over 80 years private companies had not been able to solicit investments from general public; and individuals had not been able to invest unless they were accredited, investors. And with the passing of the JOBS ACT, and the use of modern technology, it finally became possible for that same suite of services preserved for the privileged few to be available to anyone. You no longer had to have millions of dollars to buy the building with your favorite coffee or food franchise in your hometown. You could now finally combine the power of the crowd with technology and an experienced team led by Mr. Aginsky to get the exact same access to similar properties and be able to choose which ones you liked and invest as little as $500 into one or several of them and create your own miniature real estate portfolio of buildings you could see, feel, and touch. And you wouldn’t have to worry about a thing since the same team that was previously working only for multimillionaires would now be working exclusively for you on making sure that the buildings that you invested in were operating at optimum efficiency.
In the end of 2016, with transparency, stability and economically conservative values as their guidelines, a team of like-minded professionals embarked on a journey to build an innovative platform; democratizing fractional ownership in commercial real estate. Trying to decide what to call the venture, the team came up with the concept of the “Bit” as a universally understood expression of incremental ownership, and BuildingBits was born. The Company was created by experts and industry professionals with decades of experience in real estate, marketing, property management, financial services, and founded the company that is now quickly changing not just the real estate market, but investing as we know it. In 2017 and 2018 the team focused on 1) building the proprietary software and online marketplace, 2) getting the necessary approval from the SEC, and 3) identifying the first batch of properties with which to launch the platform, culminating with the company launch in the fall of 2018.
Your Bit may be a small part, but together all of those Bits make up a giant building: a solid, substantial, working aspect of every strong economy. The BuildingBITs team is proud to bring this high-finance investment within reach of every working person.