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(KSBW Monterey)   Thirty-three investors pooled together $15.2 million to open a new shopping center in California in a new craze called real estate crowdfunding   (ksbw.com ) divider line
    More: Interesting, shopping centers, Monterey County, commercial real estate  
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1313 clicks; posted to Business » on 29 Dec 2013 at 9:36 PM (2 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



22 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest
 
2013-12-29 09:31:20 PM  
A partnership formed via crowd funding. Great idea. Let's see if we can buy Detroit
 
2013-12-29 09:38:00 PM  
I bet the lawyers are going to make bank before it's all over and done.
 
2013-12-29 09:39:10 PM  

rooftop235: A partnership formed via crowd funding. Great idea. Let's see if we can buy Detroit


I'll chip in a toonie.  Now all we need is another ten people and a can of Schlitz.
 
NFA
2013-12-29 09:47:57 PM  

rooftop235: A partnership formed via crowd funding. Great idea. Let's see if we can buy Detroit


This idea will vaporize when they realize the yearly profit gets split 33 ways.  American business men want to get rich overnight or nothing.
 
2013-12-29 09:58:41 PM  
Or, as they called it before kickstarter, "investors". I wonder if subby realizes that not all real estate transactions are done by individuals..
 
2013-12-29 10:21:35 PM  
Just wait until this guy hears about something called "The Stock Market".
 
2013-12-29 10:22:59 PM  
3.bp.blogspot.com

Was into crowd funding before it was cool.

/Wonder how long it will take before hucksters and other scam artists remind people why there are so many regulations in regards to traditional investing?
 
2013-12-29 11:01:12 PM  

Somaticasual: Or, as they called it before kickstarter, "investors". I wonder if subby realizes that not all real estate transactions are done by individuals..


This.

Partners.....investors....large business ventures are seldom solo efforts.
 
2013-12-29 11:26:08 PM  

Somaticasual: Or, as they called it before kickstarter, "investors". I wonder if subby realizes that not all real estate transactions are done by individuals..


Look up REITs... seems like this idea has been done on a much larger scale for awhile.
 
NFA
2013-12-29 11:29:28 PM  

Mad_Radhu: Was into crowd funding before it was cool.

/Wonder how long it will take before hucksters and other scam artists remind people why there are so many regulations in regards to traditional investing?


Marconi was a fraud.
 
2013-12-29 11:54:08 PM  
FTFA: Realty Mogul, a crowd-funding platform that allows qualified investors who otherwise might not be able to invest in a property like this to buy shares for as little as $5,000.

qualified investors: those folks with a net worth of at least $1M.  Not exactly the common folk.
 
2013-12-30 01:31:23 AM  
Okay...so....why would someone do this instead of just buying O or NLY?

I could understand if it were a unique chance to own a piece of an incredible property, but it's a farking ordinary shopping mall.
 
2013-12-30 02:33:18 AM  

Benevolent Misanthrope: rooftop235: A partnership formed via crowd funding. Great idea. Let's see if we can buy Detroit

I'll chip in a toonie.  Now all we need is another ten people and a can of Schlitz.


Excuse you!? Detroit is an important piece of American culture! Two cans of Schlitz, at least.
 
2013-12-30 03:02:40 AM  

Sasquach: Somaticasual: Or, as they called it before kickstarter, "investors". I wonder if subby realizes that not all real estate transactions are done by individuals..

This.

Partners.....investors....large business ventures are seldom solo efforts.


But I was told by my libtardian friends that all successful businesses are started by bootstrappy John Galts.
 
2013-12-30 06:23:37 AM  
Because if there's anything California deperately needs, it's another shopping center.
 
2013-12-30 09:34:29 AM  

Nonrepeating Rotating Binary: Just wait until this guy hears about something called "The Stock Market".


Oh yay, a system whereby ventures such as these are targeted by other investors who scorch the earth for short-term profit.
These people aren't exactly common folks, but the way I see it, the stock market has strayed so far from its stated intentions that it's way overdue that people tried to find ways around it.
There's a huge difference between how the stock market is supposed to operate and how it actually operates.

twistedmetal: I bet the lawyers are going to make bank before it's all over and done.


If you do things right the lawyers make their money before anything's done so everyone can avoid going to court.  The biggest issue is how to handle the situation if one of the investors wants to later sell their stake -- the sort of thing the stock market was originally designed for.  A lot of this depends on the sincerity of the crowdfunding operation and how well it can operate as a broker, but hey, it's not like other investing methods don't have their own vipers.
 

jso2897: Because if there's anything California deperately needs, it's another shopping center.


I think the "how" is more newsworthy than what they're building.  Not saying it's a great idea, or even a good idea, and the crowdfunder could happen to just be a swindler.  But none of that debunks the lesson to be learned here; that today's economy has options beyond crawling to a government or bank or venture capitalist to get something done.  This shiat would've been pretty hard to organize even in the era of landline phones.  The legal issues are noted, but not insurmountable.
 
2013-12-30 11:01:33 AM  
aren't these things called Time Shares?
 
2013-12-30 03:08:32 PM  

pueblonative: But I was told by my libtardian friends that all successful businesses are started by bootstrappy John Galts.


In your world, private investors coming together for a joint venture is some sort of slight against libertarianism.


oook.
 
2013-12-30 07:06:51 PM  

doglover: Benevolent Misanthrope: rooftop235: A partnership formed via crowd funding. Great idea. Let's see if we can buy Detroit

I'll chip in a toonie.  Now all we need is another ten people and a can of Schlitz.

Excuse you!? Detroit is an important piece of American culture! Two cans of Schlitz, at least.


Make it 2 cans of Stroh's, and you've probably got yourself a deal.
 
2013-12-30 07:29:53 PM  

MugzyBrown: pueblonative: But I was told by my libtardian friends that all successful businesses are started by bootstrappy John Galts.

In your world, private investors coming together for a joint venture is some sort of slight against libertarianism.


oook.


I said they were my friends.  I didn't say it was my world.
 
2013-12-30 07:31:59 PM  

acohn: FTFA: Realty Mogul, a crowd-funding platform that allows qualified investors who otherwise might not be able to invest in a property like this to buy shares for as little as $5,000.

qualified investors: those folks with a net worth of at least $1M.  Not exactly the common folk.


It looks like their minimum is $5k.

Could you be referring to "accredited investor", an SEC term?
 
2013-12-31 07:27:22 AM  

eatin' fetus: acohn: FTFA: Realty Mogul, a crowd-funding platform that allows qualified investors who otherwise might not be able to invest in a property like this to buy shares for as little as $5,000.

qualified investors: those folks with a net worth of at least $1M.  Not exactly the common folk.

It looks like their minimum is $5k.

Could you be referring to "accredited investor", an SEC term?



Same thing: sounds like you have to be a Rule 501 accredited investor to qualify for participation in a Realty Mogul property (according to TFA).
 
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