What is DiversyFund?

 

Note: Since the 2 principals of DiversyFund Inc also ran a previous real-esate investment firm, it is being included in this review.  The previous company was CCFG dba (doing business as) DiversyFund. Both companies have operated from the domain name: DiversyFund.com

9/28/17: “CCFG dba DiversyFund and BRE (the California Bureau of real estate) appear to have reached a settlement on the previous charges against the company, after the BRE review of CCFG's response to the BRE allegations.


CCFG did not admit to or deny any of the charges. BRE did not hold a hearing to determine the validity or invalidity of the charges.

For the purposes of settlement, both parties have settled on a single charge of “failure to supervise”. Craig Cecilio (owner of CCFG) will have his license suspended for 60 days, but may reduce this by 30 days by paying a $3000 penalty (which DiversyFund Inc. claims he has already mailed in). And Ceclio may reduce license suspension by another 30 days if he completes certain continuing education courses on trust fund accounting and handling and have no further violations for 2 years.

Update on 9/3/2017: CCFG (dba DiversyFund and who operated on DiversyFund.com), has a pending government action against it by the California Bureau of Real Estate (BRE). 

Per the Better Business Bureau: "The company stands accused
of secret profit or undisclosed compensation, use of false or Fictitious Business Names, failing to submit independent audit report, failing to file with the BRE the Quarterly Threshold Reports, failing to supervise the real estate activities of the company, inaccurate and incomplete trust fund records, inaccurate and incomplete recording of separate record for each beneficiary or transaction, and failing to maintain the monthly reconciliation of all the separate records or transactions to the balance of the record of all trust funds received and disbursed." Click here for more details.

update on 9/26/2017: an investor claims that they received  spam email from the dedicated email address that they had set up just for DiversyFund.com.

Update on 6/23/2017: Investors say the platform did not give them adequate updates on an investment when it ran to troubles. (Fortunately it did recover).


Update on 6/25/2017: Diversyfund has a low 3.3 out of 5 rating on Glassdoor, and a considerable number of poor reviews. If the posters are real and their complaints are accurate then the company environment may not be the most stable.

DiversyFund has a fairly unique take on residential investments, and offers equity instead of the usual debt.

 

They also earned kudos for setting up bankruptcy protection. (even though it's via voting, rather than setting up a third-party administrator in advance).

 

They would have ranked higher, had they not chosen to withhold their sponsor fees from us. Knowing this information is important to investors, because it enables them to see the true total cost the marketplace imposes on each investment. We hope that the company reverses their policy about this in the future, and becomes more transparent.
 

  • Advantages: Access to residential real estate equity, some bankruptcy protection, no fees (on direct investments only. Funds have underlying fees).
     

  • Disadvantages: transparency issues:DiversyFund would not reveal their sponsor fees. 
     

  • Accolades: None

 

For more raw data on the site (including investor and sponsor fees, legal structure etc.), or to easily compare it with the data of competitors, see the feature by feature comparison matrix.

Where can I discuss other DiversyFund deals?


You can do this with thousands of other investors in the private investor club. While the club is free, membership is restricted to investors who have no business connections to sponsors or platforms. Also, all members must agree to keep all club info confidential by signing a nondisclosure agreement. Click here to join or get more info.

 

Who are DiversyFund Competitors?


Here are the reviews and rankings for other similar sites.

 

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DiversyFund:

Review and Ranking

Tier:

Awards:

#pending (out of 100+) Last year ranking:

Challenged (1 out of 10 stars)

None.

Site ranking:

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This site has been ranked and reviewed as part of our in-depth, 100+ site industry review. All data is believed to be correct, but may have mistakes. Please contact us if you notice one. All non-data (including rankings, investor comment summaries, etc.) are my opinion only. I'm just an investor and not an attorney, accountant, or certified financial advisor. To maintain neutrality: I do not own a portion of any of the companies reviewed. 

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