I'd just like to share my experiences so far with Richmond Berks. I have been using this program for just over 1 month and the outcomes are looking very promising.
Richmond Berks claims to take your investment and use it to buy real estate property at auctions. They then can turn around and sell the property later for a profit. In return for using your money to buy the property, they pay you 1.7% interest a day on your investment.
Note: Some of the places on the site still say %1.5 and %1.6 but they've recently increased in the last couple of days to %1.7
This is a huge number and when I first thought about it, it didn't seem like it would pan out. I did some searching around and there are many negative writeups about the company. They claim that they can't find any information about the properties or the company and claim it's a scam. They say that the users who make video reviews on the website are paid actors. The problem I see with this claim is there are thousands of them. Every day people are adding video reviews of the site because you get $15 RBB (Richmond Berks Bonus) which earns you a small interest rate compared to a real investment, but I see why people are doing it.
Is it a scam or a pyramid scheme?
Maybe.
But so far, after over a month, they have been paying me exactly what they said they would. I only made a small investment of $50 to start. It was actually profit from bitcoin so not really a loss if this site is a scam. Now that it's been a while and they are paying me, I've started thinking about how long this will take to turn my $50 into something that pays me a usable chunk of money each day.
It turns out it's not that long!
I did a search for a daily compound interest calculator on google. They are easy enough to find but they don't really fit with the payouts of Richmond Berks. The problem is Richmond Berks pays out %1.7 during the week and %0.7 on the weekends. So I had to make my own "calculator".
I made something up in excel which laid out each day and did the calculations for a two-year period. I'm not going to post it because it is long. But, from those numbers, I made a smaller table showing the amount invested and the daily payout for each month over a two year period.
The first year looks pretty good. By the end of the year, you would receive a payout of $140 a day off a $50 initial investment if you kept reinvesting. The really impressive part is if you continued to reinvest for the second year.
By the end of two years, you will be making over $23,000 a day!
I'm not sure I would push it that far. But after 1 year, you can get $140 a day. This seems reasonable. Even stopping at $50 a day would be great after about 9.5 months. This would be a return of investment every day. Keep in mind that there is a 50% penalty for cashing out your investment. So, going off the picture below, I could now get my initial investment back but also lose about $50 if I were to quit now. This is reasonable to me. They need to have a way to ensure that the money is there for them to use and they are upfront about this from the start.
Bitcoin
I've invested only with bitcoin on this site so far. It's pretty straightforward. They use CoinPayments for the transaction, which I use anyway, and everything runs smoothly. They have also just added a feature to invest directly with Bitcoin. For this, you need to invest minimum 0.1BTC but you can also invest in RBD (Richmond Berks Dollars) and then convert to Bitcoin later with no minimum amount. I converted about $1.40 RBD to BTC just to try it out and it's working well. I make about $0.02 a day during the week from that. If Bitcoin drops below $1000 USD again I might put some more over there.
The only thing I wish they would change is the ability to reinvest right from the site. What you have to do right now is cash out your RBD to BTC and send it to a wallet. Then make a new purchase of RBD with BTC and send the money back. This is a little annoying to do. I end up leaving the money until I have about $10 and then reinvesting. Doing this sort of screws up the graph and there is no easy way to predict the exact profits but I'm still pretty close to what my tables show. As you can see, my $50 is now at $105 and I am getting about $1.71 a day.
Join Richmond Berks
I'll include some extra tables here if you wanted to try it out with $1, $5, $10, $20, or $100 to start so you can see where the numbers would be.
$1 Investment
$5 Investment
$10 Investment
$20 Investment
$100 Investment
Is there anyone else that has had a different experience?
If so, please let me know.
If not, why not try it out! Even a $10 investment will get you $30 a day by the end of the first year and $4700 by the end of the second.
Richmond Berks
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