Anyone used crowdfunding To start?

Question

Amy Wan · Answer

Crowdfunding isn't really the best way to get started. Usually, real estate crowdfunding platforms won't list or accept sponsors who don't have a track record. I recommend partnering up with a mentor or coach for your first deal who will be funding/experience to the table (and maybe use them to help you get accepted by a portal).

Jillian Sidoti · Answer

@Linda D. - real crowdfunding is not gofundme campaigns - its companies, entrepreneurs and startups raising money for their deals. It is what is regulated by the SEC.

I would not recommend using your credit cards or taking money out of your house.

Linda S. · Answer

@Keaton Tucker,

Crowdfunding is normally for things like if you get cancer, need burial money, or a surgery.. "help me get rich" probably won't be heavily funded.    If you have access to cash, take advantage of it!   I did a personal loan on my first house, and bought the house with cash from the loan.   If you have credit cards, you can use them.. use your resources and leverage!

Also, if you don't already have a partner,  and cash is what you need, you could search for a silent partner or something along those lines?

Crystal Smith · Answer

We didn't use crowd funding but we had a couple of newbie clients that were successful using crowdfunding through leveraging off our experience.  If you call the crowd funders to find out their underwriting requirements ask if they would consider you if you're partnered w/ someone w/ experience.

Adrian Chu · Answer

The question is why others should give you money to invest?

Brokerage or wholesaling is a great way to build capital for investing.

If you are looking to purchase your first property, there are a number of loan programs you can optimize to your advantage.  Feel free to PM me if you have any specific questions.

Jillian Sidoti · Answer

I have the same question as Larry -

But I will answer both questions: "Yes."

:)

Let me know what you are looking to do and I will try to be more detailed!

Larry Fried · Answer

Do you mean investing in crowdfunding or raising money via crowdfunding?

Anyone used crowdfunding To start?

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