All Forum Posts by: Scott L.

Thanks everyone very much for the thoughtful replies. I'll think about renting more cautiously, given the potential reduction in "pristine" value, and keep focusing on the sale for now. Cheers to @Steven Myers  @Marshall Jordan @Michael Boyer and @Jerry W.

Best wishes, Scott

Hi, I'm hoping for advice on selling a house via auction - not to someone who will refurb it, as we just did that, but rather to a home buyer.

• Are there particular websites good for offering finished product at auction?
• Has some of you had success with DIY in-person auctions? Are they too risky in terms of who will show up?

The house we've flipped is somewhat unique: modern kitchen, hardwood, open floor plan, 3 floors, shared driveway, smaller bedrooms, small backyard. It's getting some interest from young professionals, as opposed to the families or empty-nesters, but it's further from downtown that some Gen X/Y want. So we're trying to reach as broad an audience as possible... before we hit winter here on the east coast.

Any pointers on auctioning a finished home would be *most* welcome.

Thank you,

Scott

Hi, I'm an investor in a single-family home in southern CT. We completed refurb and got it listed in September, but it's not clear it will get an acceptable offer by November, then it gets quiet for sales. Therefore, we're thinking of offering both for-sale and as a 6-month rental over the winter, effective immediately.

Do BP members have any advice on this?

• What is demand like for 6 month rentals? Some have said we need to be relatively low on monthly rent given the short period, others have said we can charge more because renters usually want long leases.
• Any particular marketing approaches or lease terms work well with 6-month renters?
• Will costs be an issue? I'm thinking of legal feels to draw our first rental contract, and home touch up fees like repainting after just six months of use.

Thanks so much, this would be our first rental.

Scott L.

Congrats @Bryan Hancock on your latest crowdfund financing. iFunding looks forward to co-listing another future project with you.

@William Skelley , Sohin, Scott & the team

iFunding is happy to announce that investors committed $700,000 in equity into our company, in the first day listed at Crowdfunder.  Learn more about investing in crowdfunding via webinar, Thursday, 12/4, noon eastern.

We appreciate all the interest from BP members about iFunding's real estate crowdfunding platform. Now, we've opened an investment opportunity directly in the equity of our company, via the www.crowdfunder.com/ifunding campaign that's running in December.

We hope you find real estate crowdfunding to be an interesting growth market. Real estate is considered (by Crowdnetic, an analyst company) to be the largest segment within the crowdfunding industry, which is growing close to 100% per year. Real estate overall drives $150 billion in financing transactions per year, with $25 billion already coming from investors. iFunding has fundraised $ tens of millions for real estate projects so far.

In addition to considering investments in particular real estate deals, you may find it interesting to learn how a company like iFunding itself operates, and the growth and profitability potential of investing in our business. You can read more about our equity fundraise campaign here, where we've obtained commitments for over $300K of the $1 million target in the first few hours of listing the offering. Or, visit our own website at www.ifunding.co.

We welcome your feedback or questions. Our email is [email protected] and phone is 844-367-4386.

Regards,

The iFunding team

@Ryan Wattenschaidt , we at iFunding would welcome your inquiry if you'd like to learn more. We fund debt or equity for new construction, after working with you to learn the details of your property/pro forma/neighborhood/experience and confirming a mutual fit. You can reach us via the contact info at ifunding.co (I don't think I can post contact here, but Bill Madden at the firm or I would be happy to field your call/email). Regards, Scott

iFunding has replaced the stock photo in its listing with the photo of an actual home in one of the target parks the fund is likely to acquire.  We will work with the project sponsor to acquire further photos of the park(s) from a big-picture perspective. Viewable for those who sign in to review investment opportunities.

Regards,

Scott

@Jon Klaus and others on this discussion: on behalf of iFunding, apologies for  confusion with photo associated with mobile home park fund listing. Because the investment is into a fund in the process of acquiring properties, a stock photo was used. The photo is *not* an actual property in the fund. 

To clarify further, investments will go into a fund of an experienced mobile home park operator.  Mobile parks will be selected, acquired, operated and upgraded using the fund.  The operator is among the 10 largest mobile home park portfolios in the US, owning over 10,000 lots in 16 states.  They concentrate on 'mid-tier' mobile home parks: neither commodity trailer home conglomerates, nor having fancy community amenities like swimming pools (these tend to compete with standalone, single-family residences. They emphasize quality improvements, rigorous oversight and operating according to code.

More details can only be shared with registered (accredited) investors at ifunding.co. For those who view the project, within the many due diligence documents you will find projections for each of the first five projects planned in the fund, in which are the addresses you can look up.

Meanwhile, iFunding will adjust the photos, first noting this was stock, then shortly acquiring actual images for planned acquisitions where the operator has them ready.

Thanks for raising the question,

Scott Lichtman

We're excited to announce the first real estate investing, mobile app leveraging crowdfunding. The app enables an investor to take any and all actions involved in evaluating and investing in crowdfunded real estate, any where and at any time, from iFunding.

• Browse live investment opportunities, including information about the property, the neighborhood, the project team, pro forma financial projections, legal documents and Q&A with the sponsors. Users can select specific investments or just browse real estate investment opportunities, at any convenient time and place.
• Complete an investment transaction entirely from the mobile device, including document signature and initiation of funds transfer. Or, switch to their computer to complete a transaction if you prefer
• Monitor progress on a project in which you are participating, reading about construction activity and financial expenditures, and viewing photos.
• Receive notification alerts when there are new deals available or existing deals have reached key milestones.

To encourage investors to explore crowdfunding, we're also giving a $100 rebate after any project investment between Aug.4 and Labor Day, 2014.  Visit us at www.ifunding.co, or download the iPhone/iPad app at https://itunes.apple.com/us/app/ifunding-real-estate-investing/id903401028?ls=1&mt=8 or the Android app at https://play.google.com/store/apps/details?id=com.ifunding.ifunding .

The app and iFunding account are completely free. Users must be accredited investors. Browse investment opportunities as much as you wish. The only financial transactions occur should you choose to invest in a property. We very much would welcome your feedback, via [email protected] .