Found BP while doing due diligence on a crowdfunding investment. I don't have the time for active real estate investing, but would like to share knowledge and due diligence on crowdfunding platforms and investments.
Welcome to BiggerPockets, @Mark Robertson !
We're excited to have you as part of this great community.
See you around the site!
Welcome to BP Mark ! Thanks for taking the time to introduce yourself. I think a great way to begin using BP is to read the Bigger Pockets Ultimate Beginner's Guide to Real Estate Investing as Josh and Brandon did a great job with it.And now that you're here we'd love to see you be an active member of the BP community so be sure to set up Keywords Alerts for your local area such as "Salisbury" or "Charlotte" if you're looking to find potential opportunities for investing, education in a subject, or other members in your area. Use the Find Members area to network with other members who are local to you or are in an area you're wanting to invest in. Podcasts come out weekly and are great way to learn on the move. I find there's always a gold nuggets of information in each one and I go back to listen to a number of them multiple times.
If you appreciate a post that a fellow member put up responding to you be sure to say "Thank You!" by casting a vote for it. If you think a response you read is good or answers another member's question well cast a vote for it.It's our own version of liking something on Facebook provided you're familiar with that. Simply click the box in the upper right corner of the post!
And lastly I highly recommend becoming a Plus or Pro member of the site and take advantage of all that BP has to offer you. It like getting the keys to the kingdom. It will be one of the best investments you'll make when it comes your real estate investing.
Again welcome to Bigger Pockets!
Welcome aboard, Mark. Do you mind sharing what the crowd founding investment you are considering? We're glad you've joined us!
So far I done 3 investments with RealCrowd, 2 small test with Realty Mogul, 1 with Realtyshare and 1 with ifunding.(I was investigating ifunding's Linden deal when I found BP)
Realcrowd has the lowest fees to investors (a one time fee to developers) and will focus mostly on their deals, but will still look at other portal's offerings. Its takes a special deal to use Realty Mogul. They take 2% "tech" fee plus a yearly accounting fee. That's on top of what the charge the developer. I seen some of their deals where the fees eat up 20+% of the yearly cash flow.
ifunding's 5% upfront fee is a tough sale as well.
Ah, I know the Linden deal as I work extensively in that neighborhood. Should be solid, considering the area, numbers, and developers.
I got my MBA at UT, so I was intrigued with the Linden deal. Also, Fundrise has the Austin apartment I lived my first semester as an investment opportunity now...small world sh#$.
@Mark Robertson welcome to BP! Glad to see you're so active with crowdfunding. Have you considered Patch of Land (shameless self plug)? But seriously, we offer zero fees to investors and we're quite focused on high yield, short term debt deals. We are about to put 4 new deals on the site. Let me know if I can answer any questions!
Welcome Mark. Thanks for your interest in our Linden raise. We're at 51.3% tonight as I type this in 8 days.
Since you expressed interest in learning more about the portals you should consider checking out Groundbreaker as well . I spoke with Joey today and their platform seems pretty slick. They also have some new features coming out that should differentiate them from their competitors.
My favorite sites as a promoter are:
and these sites are all worthy of consideration if you're looking for investments that don't involve ground-up developments:
4. RealtyShares - Have steady deal flow and inquiries
5. RealCrowd - Like larger deals closer to institutional types
6. Realty Mogul - Like debt-like deals it seems
7. Patch of Land - Hard money lender syndicated deals
I investigated over 23 platforms over the last 2 months and those are the dominant ones I have found. These are ones I am still scrubbing:
The other 14 I have eliminated from consideration for one reason or another. The 7 listed above are all solid platforms with knowledgeable staff from my experience.
@Bryan Hancock welcome to the site! I am also in NC myself. I am very interested in how the CF works. Guess I need to start reading up on it more. Thanks for the list of reputable ones!
@Bryan Hancock I pulled the trigger on Linden today...a nibble.
I been checking out groundbreaker for over a month now. Some really odd projects have popped up and disappeared. Pretty sure I saw a colorado pot investment with really no supporting numbers or proforma that was up for a while and is now gone.
I clicked for more information on many other deals and never got access or heard back from anyone. (the only one I used that hides info from accredited investors) The deals you can see have been up for quite a while and don't seem to be reaching their goals. I pretty much wrote that platform off. Let me know if it pans out for you.
Thank you for the investment @Mark Robertson ! It is going to be a fun project and is our first crowdfunded deal.
Welcome to BP community! It is a great place to meet new friends and learn about various aspects of real estate and more.
Wishing you the best!
@Bryan Hancock YAY!!! Great to see you blazing the trails for the rest of us! Please keep us posted. In fact, maybe a forum post to walk us through the deal from start to finish, similar to what @J Scott did with his construction project? ;)
@Mark Robertson Welcome to BP! You found the site the same as most of us, searching for information on a related subject! Have a great time.
Welcome to the BP family. It's good to see that crowdfunding is coming of age and many new members being active in the areana. I guess this now becomes a two way street, where we can learn from each other. Again, welcome aboard.
Hi Mark. My husband and I are in Statesville. We've been doing all buy and hold rentals so far. I had not heard of crowdfunding before. Thanks for introducing me to another form of investing.
I'm enjoying this string...loads of good information. I've been looking at CrowdFunding for a long time and many sites are new on the scene.
I wonder which are suited for smaller dollars ie. Specifically, I need about 200K cash for a Buy and Hold...(duplex with 2 Units) desirable location in Virginia.
I have a little cash to invest but goal is to buy w/ all cash then refinance the place in 6-8 months and pay off the loan.
Thanks Mark and everyone, love your Crowd DD site!
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