In years past, real estate development has been funded by partners and caption acquired from contacts in the industry. These days, with the popularity of crowdfunding and the abundance of resources for investment, companies are popping up that offer alternative funding for real estate properties. One such company is iFunding.
iFunding is a New York company founded in 2012. In the years since its inception, it’s United States presence has spread across the whole country, and it is beginning to grow a presence in Asia. iFunding allows individuals to contribute funds to a real estate project of their choosing, from office buildings, retail stores, and single and multi-family homes.
The founder of iFunding is William Skelley. Skelley attended Hobart College and began his career as an Exeutive Intern to Mitt Romney at Bain Capital. He then worked as a consultant for multiple companies, including GE Healthcare. In 2005, MarketWired showed Skelley transitioned and made his first foray into real estate with the founding of Pallas Global.
In 2012 Skelley founded iFunding and coined its defining term, accredited crowdfunding. His work at the company has put him in a position to advise clients on upwards of $2 billion in investments, and made him a trusted name in real estate. As such, he frequently speaks at events on the topics of real estate finance and crowdfunding. He continues to advise start up companies in addition to his work at iFunding.
iFunding has been an attractive option for individuals to enter the investment game. Real estate offers portfolio diversitifcation and a stable source of income return. And while there is always risk associated with investing, iFunding works to minimize this risk as much as possible for its customers. Prospective investments are made aware that, while iFunding chooses the minimum investing amount for each project, the typical amount ranges from $5,000 to $10,000.
To make sure all deals are transparent and all investors are informed, iFunding offers webinars to educate clients on the property, let the investors ask all questions, and to speak with operating partners about the potential deal. Additionally, iFunding frequently e-mails and sends updates about the fundraising process. If the finances are not entirely raised, 100% of the invested amount will be returned to the client.
iFunding is the newest trend in crowdfunding, and has seen a monumental success in the years it has been operating. For those wanting to take the first step into investing in real estate, the crowdfunding option is appealing and helps construction projects get off the ground.