All Forum Posts by: Robert Reardon

@David Begley spoke about the SFR securitization market and reminded me of this.

A couple weeks back I was reviewing a bond rating agency's analysis of Progress Residential's recent debt offering. This fund was selling pass-through certificates backed by 4,000 properties that were acquired over the last couple years. 

Link below which provides a trove of great info and some cliff notes below.

https://www.krollbondratings.com/show_report/1846?...

Property Count - 4,028

BPO Value - $692.2MM

Top 3 States Represented - FL, GA, AZ

Average Square Footage - 1,978

Average Home Years - 13

Congratulations on funding your first project on your platform! 

It looks like you gathered excess interest based on the investment level.

I have to disagree with the author on a couple points. I think it's too early to claim that crowdfunding being the democratization of investing/access to capital is a myth. Equity crowdfunding under Title II of the JOBS Act was enacted and lifted the ban on general solicitation but Title III (soliciting investments on-line to non-accredited investors) has not yet been promulgated. I believe the most exciting piece to equity crowdfunding is providing every day investors the opportunity to gain access to private investments without the need to write a prohibitively large check.

Also, not every platform leverages the 2 and 20 VC model. Platforms that go the broker-dealer route charge any where from 3-8% of the funds raised for a completed offering.

Robert

First of all I'd like to say how glad I am that I stumbled across BiggerPockets. It only takes a couple minutes to see there's tremendous value in connecting with other members...

My name is Robert Reardon, and along with my team, we're launching Crowdflipr.com. Our platform serves as a vehicle to connect investors (the "crowd") with sponsors seeking capital. Our members gain access to private real estate investments without the need to write a prohibitively large check or be involved with property management.

We take very seriously our obligation to protect investors' information and investments while being fully compliant with the SEC. To that end we chose the broker-dealer model and are registered with FINRA and member of SIPC.

Our first two offerings will be going live in January. One is a residential fix-and-flip while the second is a GSA build-to-suit project.

I welcome all to sign up for a free account at https://www.crowdflipr.com or subscribe to our mailing list at https://www.crowdflipr.com/#subscribe so we can alert you when the offerings are live.

Any feedback you can provide would be greatly appreciated.

Sincerely,

Robert