Of the various industries in which the Regulation D version of crowdfunding has emerged, the real estate sector appears to the be hottest today.
Fundrise has just attracted another $3.6M in investment, bringing its total to about $38M.
The Wall Street Journal reports that: “Other real estate crowdfunding companies include Realty Mogul, which has raised $10 million, AssetAvenue and RealtyShares, which have raised $3 million, RealCrowd, which has raised $1.6 million, and CrowdStreet, which has raised $800,000.”
These portals attract primarily local investors who can invest as little as $100 in a project.
One portal has moved to Georgia in order to utilize the state’s new intra-state crowdfunding law that permits non-accredited investors to invest.