CrowdFundBeat News: Realty Mogul, a real estate crowdfunding site, has just announced that it crossed the $3 million mark yesterday, after surpassing the $2 million at the end of June. The site is a marketplace for accredited investors to pool money online and buy shares of pre-vetted real estate investments.
For a company that is bracing a relatively new concept in the real estate investing industry, Realty Mogul is experiencing an outstanding year. The company has already grabbed first place in 2 highly recognized competitions for startup companies. Earlier this year in March, Realty Mogul beat 50 other companies and came in first at the Founder Showcase competition. Not only that, Realty Mogul went home with top honors in the HATCH Pitch Competition at SXSW triumphing over 100 other applicants. It is also a finalists for the Innotribe SWIFT event that will take place in mid-Septemberof this year; one of its toughest competitions yet.
A Los Angeles based company, Realty Mogul has since extended its offerings to include transactions from Seattle, Washington, Tennessee, Texas and Kansas. However, investors are free to participate from anywhere and the company will be gradually expanding. Partnerships with professional companies such as AH Capital, Dimension Investment Group, and Real Property Funding has allowed Realty Mogul to be one of the best real estate investing companies in a variety of markets.
Right now, due to the sensitivity of SEC rulings, Realty Mogul is focusing on accredited investors. To qualify, an individual will need to have an income of more than $200,000 annually or have a net worth of more than $1 million in liquid assets. However, Realty Mogul is looking forward to the Title III of JOBS Act to come out whereby it can start to solicit investments from the mass affluent. Realty Moguls website allows you to browse a marketplace of different investments, sign legal documentation securely online and fund online. Investments are only made when the goal of the total funding is reached. Then, tracking your investments is going to be a piece of cake by looking at the investor dashboard.
One of Realty Mogul’s biggest goals is to build trust among its investors. Therefore, they try to keep their real estate deals as transparent as possible. However, the protection and safety of the investors will always be their first priority.
CFB Staff Writer, Nicole C