Online real estate crowdfunder RealtyShares has released data on its crowdfunding projects throughout California.
Number of properties: 90
Number of RealtyShares investors: more than 20,000
Total raise: more than $53 million
Commercial equity projects: 16
Top cities (transactions/value): Los Angeles 46/$28.8 million, San Francisco 24/$17.6 million, Sacramento 8/$3.8 million
Of the 68 listed residential properties, the majority were debt deals. RealtyShares said equity deals have different risks, but also potentially higher returns.
The use of technology to alter service deliver has proven successful in many industries, so it makes sense it can occur with real estate, CTO Gene Linetsky said.
“One of the most reliable recipes of entrepreneurial success in the last 20 years has been taking an existing asset class and making it freely tradable by anyone in the world over the Internet. That’s what eBay, Amazon, Google, Facebook, AirBnB and Uber have done, to name a few examples. And that’s what we are in the process of doing with real estate.”