Fundrise, based in Washington DC, has been getting quite a bit of attention in the past year with hefty investments from prominent real estate and technology backers. Real estate crowdfunding allows individuals to invest with as little as $100 in developing hotels, apartments, and residential homes. Up till now, real estate investing had been the purview of wealthy investors and private equity. Fundrise's first investment in the Hamptons is this Westhampton Dunes bayfront house currently under construction. The 3,500sf home is built in conjunction with Chatham Development Company, the largest developer on Long Island. According to Curbed DC, most investors in Fundrise are local—the emphasis is on residents investing in their own communities. It's a very interesting idea.
· Fundrise [Official]
· All Curbed DC coverage of Fundrise [CDC]