Realty Mogul Raises $9M as Real Estate Crowdsourcing Turns Into Hot Property

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Dehorah Gage| March 27, 2014 | Wall Street Journal – Crowdfunding, which has influenced the making of movies, consumer electronics and various types of loans, is now spreading to real estate.

Realty Mogul Chief Executive Jilliene Helman Realty Mogul
In the second such funding of a real estate startup this week, Realty Mogul Co. raised $9 million in Series A funding led by Canaan Partners, bringing its total funding to $10 million. Valuation is not disclosed.

The company is co-founded and led by Jilliene Helman, a 27-year-old former vice president of Union Bank who decided to start Realty Mogul after working in wealth management.

“I realized that the highest net-worth clients had made their money in real estate, and it’s still an old boys’ club,” she said. “It’s a hard asset class to get into in a way that’s simple.”

Realty Mogul, which is about a year old, is an online marketplace that matches opportunities to invest in real estate with accredited investors–meaning people who have incomes of at least $200,000 per year or a net worth of $1 million.

The company partners with real estate companies to find high-quality investments—quality is key, Ms. Helman said, for both the partners and the investments—and lets investors browse, conduct due diligence, invest and track the performance of their investments through an online dashboard.

 

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So far, investors have invested $14.6 million through Realty Mogul in 14 states in 58 properties, including a shopping center, a self-storage facility, apartment buildings and single-family homes.

They’ve also received millions of dollars of cash back from their investments, Ms. Helman said, and are notified of their returns with an AOL-style e-mail that says, “You’ve got money.”

“Cash is king,” she said. “I learned that from my background in wealth management.”
read more: http://blogs.wsj.com/venturecapital/2014/03/27/realty-mogul-raises-9m-to-crowdsource-real-estate-investments/

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