Top 100+ Real Estate Crowdfunding Sites
2020 Rankings and Reviews
(for accredited investors)
(Note:If you're not an accredited investor, click here for the non-accredited 2019 rankings.).
There are over 100 real estate crowdfunding sites to choose from. But too many suffer from poor investor protections, inadequate volume and/or hidden fees. So how do you find the gems, and avoid making an expensive mistake?
These rankings and reviews are the answer. They took 3 months of deep research and analysis to create back in 2015 and many more months each year since, to maintain. We've interviewed principals, account reps, and support staff. We've pored through reams of legal documents, and investment contracts. And we've interviewed actual investors to cut through the marketing hype and get to the real deal. Below are the results. (And the detailed site by site comparison matrix is, here).
It's been another earthquake of a year. 13 sites in the former top 25 have fallen completely out of the rankings due to abandoning their business model or challenges. 5 sites have improved tremendously with substantially increased volume, and a few of these that were lower ranked have leaped up the charts as well.
Code of Ethics: To maintain objectivity, I do not accept any money from any sponsor or platform for anything (including affiliate ads, advertising etc.). See code of ethics for more.
Personal opinion only: All info is my personal opinion only as an investor. I am not a licensed financial advisor, attorney or accountant. Always do your own due diligence and consult with your own licensed professionals before making any investment decision. Information is believed to be correct but may have errors, so use at your own risk. If you find an error, please let me know.
Rankings/rating are general: In my opinion, every investor comes from a different risk tolerance and financial situation, so there's no such thing as a single investment or platform that's great for everyone. There are many deals that aggressive investors love, which I won't touch, and vice versa. And every investor has their own way of doing due diligence. I believe there's no one right way to do it.
So, the site rankings/ratings are based on criteria which I feel are important to the broadest range of investors (transparency, volume, bankruptcy protection, etc). And even though I have my own personal, conservative, due diligence method (and talk about how the site's deals measure up in the "deep dive section"), I don't use my personal criteria as a factor in the rankings. So for example, a high ranking/rating doesn't mean that I would personally invest in a site (and vice versa).
IMPORTANT COVID-19 UPDATE: this info was posted before anyone knew we would be facing a global pandemic in the spring of 2020. So it may be missing crucial information necessary to making an effective investment today. Some of the information in it may be dated, no longer accurate and/or irrelevant. For information on analyzing investments in this new era, see: "How will Covid-19 / Coronavirus Affect my Alternative Investment Portfolio?"
Tier 1: Best of the Best (10 out of 10 stars)
These sites have it all: High transparency, co-investment, pre-funding, high-volume, average to low fees, excellent bankruptcy protection, strong administration and customer service, and strong financial backing.
None. No site has all these features yet, but we hope that will change by the time of our next review.
Tier 2: All-Stars (7-9 out of 10 stars)
These sites are all extremely strong in the majority of the fundamentals that are most important to investors.
Tier 3: Contenders (6 out of 10 stars)
These sites are a step below the previous tier, but still have one or more key/strong features that makes them worthy of consideration.
*These sites are tied, and tied sites are shown in alphabetical order
Tier 4: Up-And-Coming + On-probation (3-5 out of 10 stars)
There are 2 types of sites in this category. The 1st are up-and-coming sites that may not be as polished as competitors but have some sort of promise or potential for the future. The 2nd are sites that did well in last year's rankings, but since then have had substantial investor complaints, decreasing volume or other challenges.
8) SBRE Funds (up-and-coming)
10) Equity Multiple (up-and-coming)
10) First Real Fund (up-and-coming)
10) Yield Street (up-and-coming and investor complaints probation)
12) C.K. Mack (up-and-coming)
13) LendingHome (investor complaints probation)
16) Currently vacant due to downgrade
17) Holdfolio (up-and-coming)
18) CityVest (up-and-coming)
19) Wilson Investment Properties (up-and-coming)
Tier 5: The Exited and the Challenged (1 out of 10 stars)
Some of these sites have switched business models and exited the accredited investor market or the entire real estate crowdfunding platform business. Others have had a legal, financial, volume, investor complaints or other challenges to deal with.
*) Peer Realty (volume challenged)
*) TripleNetZeroDebt (volume challenged)
*) Patch of Land (investor complaint challenged)
*) Cadre (would not answer public questions)
*) Crowd Flipr (shut down)
*) CityFunders (shut down)
) Realty Shares (investor complaints probation. Now shut down)
*All Exited and Challenged are no longer ranked.
About Ian Ippolito
Ian Ippolito is an investor and serial entrepreneur. He has been interviewed by the Wall Street Journal, Business Week, Forbes, TIME, Fast Company, TechCrunch, CBS News, FOX News, USA Today, Bloomberg News, Realtor.com, CoStar News, Curbed and more.
Ian was impressed by the potential of real estate crowdfunding, but frustrated by the lack of quality site reviews and investment analysis. He created The Real Estate Crowdfunding Review to fill that gap.
Tier 6: Bottom Tier
These 80+ sites failed to meet one or more of the basic criteria, to qualify for ranking at this time. The reason(s) is/are documented in the feature by feature comparison matrix. They are listed in alphabetical order.