PeerStreet "is a marketplace that provides unprecedented access to high quality real estate loan investments."
According to Crowdfund Insider, the company has announced that it is now open to all accredited investors. Previously the real estate crowd funding platform was said to be available only to those who are invited but not anymore because PeerStreet wants to make investing in loans backed by real estate as easy as possible.
Prior to launching, PeerStreet has stated that the investing platform has financed more than $35 million in real estate loans that are backed by 78 properties. The annualized net income to investors to date reportedly is somewhere between 7% and 12%.
Brett Crosby, COO and co-founder, states, "With the launch of PeerStreet, we are democratizing a fantastic asset class - real estate debt - that has always existed, but has been extremely difficult for most investors to access," said Brew Johnson, CEO and Co-founder of PeerStreet. "PeerStreet is unique in that our loans are sourced from a nationwide network of professional loan originators, which gives us the ability to scale while providing investors access to the highest quality loans."
He continued, "Unlike platforms that originate their own loans, our professional origination partners know their local market in terms of property values and local economic conditions. This reduces risk for investors on our platform."
With the said platform, according to Crowdfund Insider, the investor can go with loans with terms as short as six months. He can also build a portfolio of loans with individual investments as low as $1,000 to start with. Lunching publicly, PeerStreet has also announced it referral program, where in users who gets a 1% Yield Bump on their next investment after bring in another individual who makes his or her first investments. The referred individual also gets 1% Yield Bump that will be applied to his or her next investment.