Our Crowdfunding Network Is Growing Part 36

Our entrance into the crowdfunding industry is now in full bloom.  We are on our way with GroundBreaker and should have a white label portal fully functional through Inner 10 Capital soon.  We had to reduce our SOW and de-feature some requests, but much of what I want should be updated in coming releases.  Once the site is up and running we'll probably do some raises through it and some through other portals.  

Fundrise called me several weeks ago wondering why I hadn't listed anything.  Some guy was supposed to call me to discuss things, which never happened.  From what I hear they have plenty of deals to fund so I am not sure what is going on there.  We still get investor flow from the site, but I mainly just put these folks in my database for deals we'll list elsewhere since Fundrise doesn't seem to care much about cultivating a relationship.

We're inching closer to doing a construction loan debt raise with iFunding.  I had another call with William Skelley today and we're working through the details about how the raise will work.  The loan is most likely to be around $450k for the project.  The financing will cost more than small regional bank financing, but it will be less brain damage and more sustainable in the long run so there is utility in it for us.  It will also help us build out our debt investor roster, which will position us better for the long term.  

We now steadily get 7-10 new investors per week and they're coming from a variety of sources.  I am hoping to get up to this many per day going forward to hit our goal of 5000 investors this time next year.  I have a Stanford grad working on shoring up a more granular marketing plan for us to track this goal and our Sugar CRM solution will soon produce reports detailing things and how channels pull.  

One of my partners in the Bullseye fund is starting a new portal and I am toying with the idea of participating in some respect.  Knowing all the work that iFunding puts into their portal I am not sure this is how I want to spend my limited time.  What is appealing about participating in this venture is that venture capital deals will be pretty prevalent.  One of my short-term goals is to get into venture more through my WIN network so this is appealing to me from that vantage point.  Time will tell if this is worth the effort or if I will participate minimally.

I am writing a new bylined article for how to vet a real estate deal for a prominent CRE publication.  Trying to condense this topic to 1000 or fewer words is challenging.  Once I am out of class next week I plan to finish up the article and hopefully it will be published next week.

More to come soon.  I haven't blogged much recently so I'll try to check in more frequently soon.