Crowdfunding is a type of financial model in which a developer of a product or an idea is being funded by multiple sources for a desired stability and footprint. Crowdfunding requires three things to become a proper business model. The three things are the developer who proposes his idea, the funders that support financially and an organization that serves as a moderator between both parties.
serves as a moderator between both parties.
To kick-start a real estate development, Gary Johnson of Newington said; “find a piece of land, acquire it, arrange to build something on it then bring it into the market by renting, leasing or selling it.” This defines the whole development process. Gary Johnson added that he always look ahead at what demand might exist in the future.
Traits for Success
Real estate developers have some traits that make them who they are. These traits can determine the success of a developer. They are:
-Understanding
-Knowledge
-Creativity
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-Money
These five traits are required for a successful estate developer. The understand will give the ability to know what will be appreciated in the market. Knowledge includes thinking from the perspective of an estate developer with a focus on land utilization. Creativity has no boundaries. It is limitless. A creative mind can solve the most complex of problems. Moreover, risks have to be analyzed to avoid making big mistakes in investments and the rolling power is money. Money, it is said solves problems and it is true!
A new developer looking to start a career in real estate development can be faced with the obstacle of cash. These players are yet to establish source of equity. Except if the developer has some personal savings, support from family or other financial sources, it can be difficult to acquire. Real estate crowdfunding in this context can help jump start the career.
Real estate crowdfunding sites enable a new developer to gain access to nationwide syndicated equity investments and lending opportunities that were not previously accessible to the player. With technology, sponsors can easily deal with large number of investors through efficient and automated reporting and communication channels.
No doubt, real estate investment has become more expensive. Crowdfunding changes all of that. Now, new investors have the chance to pool their money with other investors in the industry which opens a new path for success. For example, the heralded Yale Endowment which has beaten the market for years allocated a whopping 16% of their $20.8 billion portfolio to real estate in 2015. From Newington, Gary Johnson said, “great rewards involves great risk.” Imagine how crowdfunding eases the path to great rewards. Gary Johnson added; “look ahead at what demand might exist in the future.”1 view
To kick-start a real estate development, Gary Johnson of Newington