Has anyone experienced a total loss with crowdfunded real estate? I invested in a NY apartment building with Crowdstreet in 2018. The sponsor was Henley. The investment never made any distributions and was just declared a total loss. The sponsor blames new rent control rules in NY and COVID. I advise only investing play money when putting your faith in third parties. Never again for me.
Wow! Really? Sorry to hear about your experience with them. I am surprised that it would go to $0! I have one open investment with them and was considering adding another. I am going to hold off and see how things go early next which is is when distributions are scheduled to begin.
I had been in RealtyShares, and I maybe fortunate that 4 of 6 deals paid off with interest.
I have one with Franchise Growth that is about a 50% loss ("only" $5k luckily) and another that isn't looking great.
I got setup for Realty Mogul, but haven't even looked yet after my experience with RealtyShares, although I've heard good things.
I have been putting money into Fundrise and so far so good.