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-- -- -- -- -- Following the models of successful crown funding invested at initiatives and new start -- is making commercial real estate investments possible for the masses.
Sunrise just blondes two weeks ago and -- already raised a 130000.
Dollars from investors who want to buy.
Shares of -- downtown Washington DC building.
Joining us now Ben -- co-founder of -- -- I then I think is there really cool idea -- but let's explain crowd funding it basically collects.
Only small bets from people.
And -- best collectively.
Right right so.
What we're doing is we're sourcing capital directly online from the local public its side direct public offering.
And we were able to do it before -- funding was probably anybody SEC.
By using regulation today.
Right which basically says that an offering of five million dollars or less is a -- distant to put it really simply.
And you went this route because you -- you're getting sick of you know about washing investors why they weren't giving you money.
Well so I'm I -- a real estate family and we've been developing in Washington DC area for a long time.
And after the 2000 -- session I felt like I just couldn't.
Take money -- more from the typical Wall Street and institutions.
My brother and I were building in and emerging neighborhoods we felt like.
Who should be any investor I mean the local neighborhood should be any investor not have an institution has no natural connection to the places were buildings.
That -- I want investing your building what I did.
Right I go to fund rise dot com -- we have a current offering.
Thirteen 51 a street northeast.
And you go on -- -- sunrise.
And if you live in Washington DC or Virginia you can buy a share for a hundred dollars.
I have to live in those areas what if I don't.
Well right now the way regulation it works is you have to not only get it reviewed by the SEC -- hit -- seven months.
But also get a reviewed.
In each state -- offering selling and so that was Washington DC and Virginia is you know ultimately only so many states we -- do I.
I understand okay so.
For a hundred dollars I get a share and one again the end of lake and when -- -- to see dividends from this building.
When you buy a unit in the company -- company owns.
A property on a street northeast and also 30% profit share in the business -- And so you'd be make money from rent and from if the business is successful you're successful would it.
And so do I get a check like a monthly sit dividend check how do you pay them out.
Now we also are heavily invested in -- we put a lot of money and we're basically investing side by side by -- local public and so.
The places -- open in the spring and once they start paying brand and business starts on generating profits that's when we would start looking and pay out dividend.
-- July the option as.
Investor -- to roll my money let's say into your next project.
Each offering stands on its own.
Why -- we feel like the mean democratizing investing local real estate is the -- is the future of real estate.
They basically you can make the neighborhood your partner and the thing that has a lot of power.
Yeah I'm with you that I think you get the community embalmed and I think they take a little bit more -- -- things.
Okay see go to fund -- -- come right if you want to invest.
Right and then all of a sudden he got a powered build your city can actually build -- your neighborhood and see the impact your money and and potentially profit from it.
I think it's a pretty cool idea Ben thanks bringing it to us thanks.
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