How to fund Fundrise account?

[RaymondG]

I recently enrolled in the waiting list of Fundrise's eREIT. However, I could not find out how I could fund my account. I assume the account should be funded before I am able to invest in eREIT when the eREIT investing windows is open. Could someone please advise if you invested in Fundrise's eREIT?

Thanks!

Raymond

[PhilGD]

I had the same confusion. You enter your bank account info at the "point of sale", so to speak. There is no way to prefund that I know of.

So when investments in the eREIT resume you will give them your bank routing number etc at the time you purchase shares.

[TravelingPennies]

@PhilGD, thank you! I guess that funding at the "point of sale" helps to eliminate the idle cash in the Fundrise account.

[Half Right]

Either ACH or wire after your investment is accepted. fundrise already funded the first deal in the ereit

[TravelingPennies]

Thanks to PhilGD and Half Right for your replies.

I received an email from Kendall @Fundrise. It says:
"There is no need to transfer funds to the Fundrise platform in advance. Each investment can be funded just in time.

When sales resume, you should see a red "invest now" button and can proceed through the investment process. Our process is fully electronic, so there is no need to print anything or send in any physical copies. The final step of the process involves an electronic signature that can be done using your mouse.

ACH transactions are mandatory for all investments under $25,000. For orders above this minimum, we also accept wires.
"

[investny]

What is the difference between eREIT and REIT?

[lascott]

https://forum.lendacademy.com/index.php?topic=3572.msg31562#msg88888888Quote"> from: investny on December 19, 2015, 04:11:25 PM

[TravelingPennies]

I should have been more specific in my question.

I have read this before http://www.crowdfundinsider.com/2015/12/78224-fundrise-makes-investment-history-by-opening-worlds-first-ereit/" class="bbc_link" target="_blank">http://www.crowdfundinsider.com/2015/12/78224-fundrise-makes-investment-history-by-opening-worlds-first-ereit/

The way i see it, the differences are that REIT can be bought and sold on an exchange providing higher liquidity but incurring higher management fees.

eREIT is a REIT but structured similar to LC and Prosper thus having lower fees but no liquidity.

Am i missing something?

[Cletus]

I invested in the eREIT.  I originally looked in to this a long time ago and apparently I signed up to be notified of investments that are available to non accredited investors.  I received an email about a month ago about the eREIT.  It sounded interesting so I linked my savings account and funded $1000.  Currently it looks like the $1000 is sitting there doing nothing.  According to the sight the eREIT has a goal of 20 investment properties and they have funded 1 so far.  I think that they will post earnings quarterly so it may take some time before this thing gets going.  If you did not get in initially I am not sure how they are handling things going forward.  It seems as though they funded the eREIT very quickly.  Interesting concept though. 

[rockinray]

I'm in this eREIT too. So far, $5,000 in for a test to see how they perform.

The eREIT now has 5 properties in the portfolio with a goal of 20. Looks like we will get quarterly payments and they will ACH those payments back to your account.

They claim a good return and I think the goal for the eREIT is 15%. That might be a bit aggressive in my opinion. They would have to invest in some really low grade stuff to make that number. I think right now with the current investments, they are looking at about a 12.5% return.

I checked with them about a self directed IRA. They can do this but it sounds like a pain to set it up, so I;m just leaving mine on the taxable side.

Cool stuff here if it all works!

Ray

[jheizer]

Just got this.

Quote

[TravelingPennies]

http://www.loopnet.com/Listing/17938280/1429-Fairmont-Avenue-Atlanta-GA/" class="bbc_link" target="_blank">http://www.loopnet.com/Listing/17938280/1429-Fairmont-Avenue-Atlanta-GA/

https://www.google.com/maps/place/1429+Fairmont+Ave+NW,+Atlanta,+GA+30318/@33.7918577,-84.4226948,16z/data=!4m2!3m1!1s0x88f504dcad59b073:0xd01ac2cfb9cf0883" class="bbc_link" target="_blank">https://www.google.com/maps/place/1429+Fairmont+Ave+NW,+Atlanta,+GA+30318/@33.7918577,-84.4226948,16z/data=!4m2!3m1!1s0x88f504dcad59b073:0xd01ac2cfb9cf0883

It is probably this property. It's ok for entertainment but seems to be not so good location for retail though. I will pass it.

[TravelingPennies]

Since we are in the eREIT, do these not get automatically added to our portfolio?

Or, do you need to invest an additional amount to buy in on this one? Not sure...

Looks rough now, but has potential I think...

Ray

[TravelingPennies]

https://forum.lendacademy.com/index.php?topic=3572.msg32043#msg88888888Quote"> from: rockinray on January 28, 2016, 08:27:44 AM

[TravelingPennies]

Check your portfolio. They added the latest one to mine earlier today.

I thought the same thing you did.


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