Crowd forms in real estate

The online crowdfunding market for real estate is heating up on the Gulf Coast.

One company, San Francisco-based RealtyShares, funded at least 20 purchases in the past year worth more than $8.5 million in an area that includes Tampa, St. Petersburg,
Clearwater and Sarasota. “Florida is a very attractive market for us,” RealtyShares Director of Investments Mark Masterson tells Coffee Talk. “We are bullish on pretty much any market in Florida.”

Through its online network, RealtyShares connects developers seeking capital for a project or purchase with outside investors who pool their money over the RealtyShares platform. In total, RealtyShares, which vets the projects before allocating the pooled capital, has funded 330 deals worth more than $150 million since the company was founded in 2014. An investor on RealtyShares must meet a minimum $5,000 investment requirement.