Our Crowdfunding Network Is Growing Part 20
Thursday, March 27
I locked up an off-market deal today where we will develop 4 units in the heart of 78704. Our company will fund $275k of the development and we'll probably raise $375k on iFunding. The deal demands a 45-day close with $5500 in earnest funds at risk so it is important to be able to raise the ...
Our Crowdfunding Network Is Growing Part 19
Thursday, March 20
Today is the day we spike the football in the end zone. 1122 Linden funded today in exactly 24 days. We raised around $25k/day during the raise paying a 10% preferred return to our investors with a targeted 18% overall return. My hope is to have another deal on iFunding soon to see if we ca...
Our Crowdfunding Network Is Growing Part 18
Thursday, March 13
I finally was introduced to Bjorn from Fundrise via email and we have been trading emails to clarify their business model and agreements. Their model is quite different from iFunding's model. They are simply a SAAS provider for a fee and are partnered with GCS, a registered broker-dealer, to...
Our Crowdfunding Network Is Growing Part 17
Tuesday, March 11
The Fundrise folks delayed my meeting with them again. This is quite frustrating and I let them know I am not happy about it. The wait should be worth it though because we are still pulling many new investors from the site. I am meeting with some folks that can assist with growing our netwo...
Our Crowdfunding Network Is Growing Part 16
Saturday, March 08
We received the engagement letter from the securities attorney we have selected yesterday and are reviewing it. Our approach will be to do a test-the-waters campaign and see what investors come out of it. We're then likely to do a 506(c) for single purpose raises and possibly a Regulation A+...
Our Crowdfunding Network Is Growing Part 15
Wednesday, March 05
Today was a nice milestone day for us on Fundrise. We hit the 100-investor mark today with $7.36M in notional funds committed. We are getting 2-3 investors per day from the site now and I am making headway getting their legal folks on the phone to nail down how things work. We should hopefu...