It could become the first app launched by a real-estate specific crowdfunding platform in the U.S., enabling users to make multimillion-dollar investments on the go. So far, only larger crowdfunding platforms like Kickstarter, which focuses on consumer goods, offer apps.
“The entire world is moving to mobile devices. It’s the same reason why you can trade stocks or do e-banking with your phone,” said Skelley. “We found that there were a lot of people who logged into our website through their mobile devices. We are looking to respond to customers’ needs. So we decided to build an app that can perform the same tasks as our website.”
Renderings show that the app will allow users to access information on a building’s rental income, tenants, and neighborhood before deciding to invest.
Crowdfunding platforms raise capital from accredited investors via the internet. Single investments can be as small as a few thousand dollars, allowing small-time, accredited investors to buy into buildings they could otherwise never afford to invest in.