Top 100+ Real Estate Crowdfunding Sites
2021 Ratings and Reviews
(for accredited investors)
(Note:If you're not an accredited investor, click here for the non-accredited 2021 rankings.).
There are over 100 real estate crowdfunding sites to choose from. But too many suffer from poor investor feedback, inadequate protections, inadequate volume and/or hidden fees. So how do you find the gems, and avoid making an expensive mistake?
These ratings and reviews are the answer. We've interviewed actual investors to cut through the marketing hype and get to the real deal, as well as principals, account reps, and support staff. We've pored through reams of legal documents, and investment contracts.
Back in 2015, they took 3 months of deep research and analysis to create. And every year since, many more months have been invested in maintaining them. And now here's the latest update.
It's been another earthquake of a year and many site have dropped substantially due to challenges and/or abandoning their business model. A smaller number have hung on. And for another year, no site was able to claim "best of best" status. Here's the results...
Code of Ethics: To maintain objectivity, I do NOT accept any money from any outside sponsor or platform for ANYTHING (including but not limited to 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 an attorney, nor an accountant, nor your financial advisor. 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.
Ratings 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 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 ratings. So for example, a high ranking/rating doesn't mean that I would personally invest in a site (and vice versa). Click here to see what's in my own portfolio.
Tier 1: Best of the Best (10 out of 10 stars)
These sites have it all: Very positive investor feedback, high transparency, co-investment, 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.
All sites in the tier are listed in alphabetical order.
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.
Tier 4: Up-And-Coming + On-probation (3-5 out of 10 stars)
There are 2 types of sites in this category. The first are up-and-coming sites that may not be as polished as competitors but may have some sort of promise or potential for the future. The 2nd are sites that have had substantial investor complaints, decreasing volume or other challenges.
Up and coming:
Peer Street (investor complaints probation)
ShareStates (investor complaints probation)
Yield Street (investor complaints probation)
Tier 5: The Challenged and the Exited (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 legal, financial, volume, investor complaints or other challenges to deal with.
Cadre (would not answer public questions)
Instalend (SEC lawsuit alleging fraud)
Patch of Land (investor complaint challenged)
Peer Realty (volume challenged)
TripleNetZeroDebt (volume challenged)
Crowd Flipr (shut down)
CityFunders (shut down)
C.K. Mack (appears to be shut down)
First Real Fund (appears to be shut down)
Full Capital Stack (exited platform market)
Realty Shares (investor complaints probation. Now shut down)
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.