{"id":1004095487,"date":"2014-04-28T09:59:20","date_gmt":"2014-04-28T17:59:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004095487"},"modified":"2022-12-08T18:20:33","modified_gmt":"2022-12-09T02:20:33","slug":"may-issue-turning-to-the-crowd-for-capital","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/may-issue-turning-to-the-crowd-for-capital\/","title":{"rendered":"MAY ISSUE: Turning to the Crowd for Capital"},"content":{"rendered":"
\"TREND_realty-mogul-apartments\"<\/a>

Realty Mogul helped raise $820,000 via crowdfunding for this multi-family property in L.A. last December.<\/p><\/div>\n

By Anna Spiewak, News Editor<\/em><\/p>\n

There\u2019s a new buzzword in real estate, and the word is: crowdfunding. While its freshness on the market naturally still raises a question mark in several developers\u2019 and investors\u2019 minds, it is most certainly making waves among the real estate industry and in the media, as several developers, real estate crowdfunding firms and average investors are already making money off
\nthe concept.<\/p>\n

\u201cThe word \u2018crowdfunding\u2019 is being used left and right, but private equity, investment bankers and regulators today have been using crowdfunding for decades, they just don\u2019t call it the same,\u201d David Drake, a global strategist, told Commercial Property Executive<\/em>.<\/p>\n

According to Drake, crowdfunding, in general, has already raised $5 billion worldwide, $2.5 billion in debt and $2.4 billion in donations. He predicts that will grow to $10 billion in the near future. Drake\u2019s personal crowdfunding experience dates back to the very first FCC meeting on the concept\u2014in the White House in 2011, despite its years-long existence.<\/p>\n

\u201cIf you go to accredited investors and have them invest in a deal through technology, they call that crowdfunding too, so you have to break it down: What\u2019s the definition of crowdfunding?\u201d<\/p>\n

In its new sense, crowdfunding is defined as the collection of financing to sustain an initiative from a large pool of backers, usually made online by means of a Web platform. Whereas traditionally entrepreneurs would seek out banks and institutional investors to secure the capital they needed to take their ideas to the next level, with crowdfunding entrepreneurs are cutting out the middleman and raising capital from a group of smaller investors in a secure and automated way online.<\/p>\n

For investors, crowdfunding is less risky and entails smaller dollar investments in projects they care about.<\/p>\n

For entrepreneurs, crowdfunding is a better alternative to traditional investment capital that improves the likelihood of securing the financing required to stay in business. And the JOBS Act, signed into law by the President and Congress in January 2012, has encouraged small businesses and startup funding by easing federal regulations and allowing individuals to become investors.<\/p>\n

Lately, the crowdfunding platform has spilled over into real estate, inspiring industry professionals to reach out to pools of \u201ccrowds\u201d to invest in an asset\u2014especially a higher-price commercial real estate asset. In turn, average investors can make a direct investment into real estate, an alternative to purchasing shares of a publicly traded REIT.<\/p>\n

Compared to a tenant-in-common vehicle, which also allows a large number of smaller players to invest directly in real estate, with crowdfunding you invest into an L.L.C., own part of it and invest in a project as an L.L.C. You don\u2019t have to do it all on your own nor sign off on every decision that is being made in the transaction.<\/p>\n

\"The<\/a>

The Prune Tree shopping center in Salinas, Calif., is the first-ever crowdfunded retail center, for which more than $3 million was raised through Realty Mogul.<\/p><\/div>\n

While several crowdfunding firms are popping up, giving hungry investors access to various real estate deals, one-year-old Realty Mogul has been getting much traction in the media lately, as it recently announced hitting a milestone of more than $100 million in commercial real estate investments.<\/p>\n

\u201cIt\u2019s really democratizing access to investments that your average investor would never have access to otherwise,\u201d Jilliene Helman, the young CEO & founder of Realty Mogul, told CPE<\/em>. \u201cWe already distributed millions of dollars out to investors on profitable projects. I think billions of dollars will (still) be funded through crowdfunding.\u201d<\/p>\n

The proof is in the pudding. Realty Mogul has crowdfunded the first self-storage facility in North Carolina, the first retail shopping center in the country outside of San Francisco, as well as various multi-family apartments and single-family homes.<\/p>\n

\u201cWe\u2019re the largest crowdfunding platform for real estate in the country today, as measured by the number of transactions, number of states we\u2019re in and the dollars that have been transacted,\u201d Helman added.<\/p>\n

iFunding, another real estate crowdfunding firm, chooses real estate projects for the investor and shares profits. For $1,000 minimum, members can buy into any piece of the site\u2019s portfolio of multi-family, hospitality, office and residential properties. Each project has its own distinct limited partnership that pays dividends in six months minimum.<\/p>\n

\u201cWe were the first company to implement this, in June 2012,\u201d said Sohin Shah, co-founder of iFunding.
\nHe observed that his crowdfunding investors tend to favor shorter-term alternatives, from six months to a year, as opposed to longer-term investments.<\/p>\n

\u201cAll the big boys know that crowdfunding is on the rise, and the smart ones are taking some measures to make sure they\u2019re getting a piece of the pie,\u201d he added.<\/p>\n

Certainly, there are those who question the new phenomenon, wondering what exactly could be available to a non-credited investor and how one ensures that those getting into the deals actually understand real estate.<\/p>\n

\u201cPart of the pitch is that it avoids transaction costs, which brokers are not going to be too happy about,\u201d said Gregory Davies, partner at Cassidy Turley Northern California. \u201cWhy wouldn\u2019t you just buy a REIT?\u201d<\/p>\n

Drake\u2019s response to that question is that one gets more control and transparency via crowdfunding and easier access to the management. Otherwise, a REIT is \u201cexcellent,\u201d he said.<\/p>\n

Additionally, there are criteria that potential investors have to meet when dealing with both Realty Mogul and iFunding: They have to be accredited, meaning have a net worth of $1 million or more, or an annual income above $200,000.<\/p>\n

Another question raised by crowdfunding hopefuls includes how to reach small investors. That\u2019s where good marketing, branding and distribution come into play, according to crowdfunding experts.<\/p>\n

\u201cIt\u2019s a work in progress, but it\u2019s not here as just a fad, not at all. It\u2019s real money,\u201d Drake concluded.<\/p>\n

Read the article in the\u00a0May 2014 issue<\/a>\u00a0of CPE. Access is free!<\/em><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

There\u2019s a new buzzword in real estate, and the word is: crowdfunding. <\/p>\n","protected":false},"author":952,"featured_media":1004095492,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1004095487","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nMAY ISSUE: Turning to the Crowd for Capital - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/may-issue-turning-to-the-crowd-for-capital\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MAY ISSUE: Turning to the Crowd for Capital\" \/>\n<meta property=\"og:description\" content=\"There\u2019s a new buzzword in real estate, and the word is: crowdfunding.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/may-issue-turning-to-the-crowd-for-capital\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-04-28T17:59:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T02:20:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/04\/TREND_realty-mogul-apartments.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2592\" \/>\n\t<meta property=\"og:image:height\" content=\"1944\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/may-issue-turning-to-the-crowd-for-capital\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/may-issue-turning-to-the-crowd-for-capital\\\/\"},\"author\":{\"name\":\"Anna Spiewak\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1bbb99675c2609ea2e6792f8b25d7b76\"},\"headline\":\"MAY ISSUE: Turning to the Crowd for Capital\",\"datePublished\":\"2014-04-28T17:59:20+00:00\",\"dateModified\":\"2022-12-09T02:20:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/may-issue-turning-to-the-crowd-for-capital\\\/\"},\"wordCount\":1017,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/may-issue-turning-to-the-crowd-for-capital\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/04\\\/TREND_realty-mogul-apartments.jpg\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/may-issue-turning-to-the-crowd-for-capital\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/may-issue-turning-to-the-crowd-for-capital\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/may-issue-turning-to-the-crowd-for-capital\\\/\",\"name\":\"MAY ISSUE: Turning to the Crowd for Capital - 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