Property Coin (PCX) is the first security token backed by a professionally managed portfolio of fix and flip real estate and loans. PCX is managed by Aperture, a California-based real estate technology and investment company. 100% of profits from investing in real estate assets will be reinvested, buying additional real estate assets for tokenholders, which should increase the market value of PCX. Property Coin merges traditional securitization technology into the coin format, and is being created in conjunction with one of the most respected law firms in structured finance. We have been beta testing our systems and methods since 2016, making real world property investments with our own capital. This testing has resulted in the rejection of approximately 99.8% of available investment opportunities and we select only 0.2% of opportunities viewed. To date we have produced over 50% unlevered IRRs on our investments.