Lenders desperately need/want business especially in this interest rate environment (right now, the main source of mortgage loan business in Florida is rehab financing as a result of the hurricane damages) and one way the big players differentiate themselves is by streamlining the process.

Introducing accredited investors to a diversified stream of consistent monthly preferred returns backed by real estate and real estate backed assets (notes) in a completely transparent environment.

@Byoung Baejust for a countervailing perspective - the macro environment is just about the worst it could possibly be right now for you to pick a random market in a random state and shell out $50K or more to get a random property and then turn it over to random people you haven't met.  

Everyone will tell you it’s great to get started early, or you can just move after a year, but in the current environment in our region the rent your property will generate after you move out will likely be less than your mortgage, if you are tied to the area and feel confident you want to stay in whatever property you buy for 3-5 years go for it, if you want flexibility rent and throw that money into and index fund. 

High taxes, a declining population, and an environment that is less than friendly to businesses are important factors to consider.

They unleashed pandemic handouts and loan programs that greased the economy (this was not well thought out, contributed to the inflationary environment we are still suffering from and PPP and ERP loans were flooded with fraudulent loans and benefits)These programs leveraged existing corporate infrastructure (banks and the government had little or no operational involvement). 

I have not purchased property via their platform but I'd also note it's few and far between to try to find any deals that pencil in the current environment.  4-5 years ago one could find good cash flow with SFR properties.

Real estate investment is always a matter of perspective and strategy, and the current market environment is no exception.

But fly by night note funds coming out of the woodworks to capitalize on this "high" rate environment by creating note investment "funds" that really had terrible ways of raising capital and minute chance by real estate, and promising something egregious like 15-20% +.

so - tough environment.