Author Topic: Total loss with Crowdstreet  (Read 5728 times)

geog21

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Total loss with Crowdstreet
« on: September 08, 2020, 07:16:31 PM »
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.

titlewealth

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Re: Total loss with Crowdstreet
« Reply #1 on: September 09, 2020, 12:33:01 PM »
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.
www.moneyminx.com
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berkel

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Re: Total loss with Crowdstreet
« Reply #2 on: September 17, 2020, 03:13:40 PM »
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.

Good luck!
~$Retirement Nerd