iFunding - Anyone Ever Invest w/ Them?

Question

http://www.ifunding.co/

Has anyone ever worked with these guys? Any feedback?

I just came across them looking at the NYC Real Estate Tech Startup meetup. They are demo'ing next week to that group.

Nicholas Miller · Answer

Andrew,

I found iFunding back in 2013 after a search to find the LendingClub/Prosper of RE. Since then I have formed a great working relationship with them.  With further portfolio diversification in mind, I have invested both my own money and my mother's retirement money in multiple iFunding deals.

Here are my results thus far:

Invested in 8 projects of which 3 have paid back (cash in the bank) with an XIRR of 20.2%. Contact me directly if you need further data.

Here are my mother's results thus far:

Invested in 10 projects of which 4 have paid back (cash in the bank) with an XIRR of 43.4%. Again, contact me directly if you need further data.

Some one is always available for questions via multiple avenues:

• Old school telephone
• Email
• Via the chat feature on their site.  On the other end is usually Sohin Shah (COO) who personally will respond to any questions in real time.

Hope that helps.

Nicholas Miller

Jay Hinrichs · Answer

@Rodney Walker @Bryan Hancock

I have had success with raising capital from CF sources here on the west coast. from what I have seen they are looking at the operator as hard as the asset if not harder... If you have a going concern can show good track record that would be critical in my mind.

We have done I think 5 deals so far  all were debt plays and all were small by RE standards. However they funded each deal within a weeks time and some in one day. So I liked that aspect.

I personally think the CF sites that choose wisely at the start up here and have track record and success are going to do very well.

on the Admin side for the crowdfunder if will really come down to being very high tech there is lots of work Admin wise when you have a bunch of small investors in on one deal..

So far I like it

Rodney Walker · Answer

@Jay Hinrichs very insightful thanks.  Can you send me an email and let me know when you are available to talk.  We missed each other via phone calls earlier last week.

Rodney Walker · Answer

@Bryan Hancock are you using both fundrise and iFunding?  I' interested in utilizing crowd funding but was not sure if the process would be fruitful.  I'm interested to know what you find out as well as pick your brain on the pros and cons of the process and results.

Bryan Hancock · Answer

I have been studying crowdfunding portals pretty heavily in the last few months and we specifically selected iFunding for our first investment.  From a promoter's perspective their documents were easy to understand and I found the founders to be insightful, responsive, and flexible.  It remains to be seen if they can actually raise the money for us, but I am pretty confident things will go okay.

iFunding - Anyone Ever Invest w/ Them?

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