LOS ANGELES, CA – April 3, 2013 – (RealEstateRama) — Realty Mogul, an online platform that is doing crowdfunding for real estate has its first success story in Washington state. Real Property Funding Group, a real estate investment company in Settle, WA, raised $80,000 using Realty Mogul’s revolutionary platform for real estate fundraising. The money is being used to rehabilitate a single family home in Everett, WA.
Realty Mogul structured the investment as a secured loan, paying interest of 8% to investors on an annual basis. Real Property Funding Group is a real estate company that specializes in finding and creating value in residential properties. They looked to Realty Mogul to raise additional capital to continue growing the business.
Realty Mogul provides a unique platform for people who want to invest in real estate but are unsure of how to get started and do not have time to manage investment properties full-time. Users have access to buy shares of investments for as little as $5,000. CEO Jilliene Helman says “we’re introducing our investors to new real estate investments and allowing them to invest in their own backyard alongside some of the best private real estate investment companies, like Real Property Funding Group.”
Among the investors in the transaction was Peter Renton, a well-known investor in the peer-to-peer lending space and the author of www.lendacademy.com.
Realty Mogul looks forward to many more success stories as it continues to expand available offerings and works with more and more accredited investors at www.realtymogul.com
About Realty Mogul
Realty Mogul is a marketplace for accredited investors to pool money online and buy shares of real property like office buildings, apartment buildings and retail centers. For accredited investors, Realty Mogul gives them tools to browse investments, do due diligence, invest online and have 24/7 access to an investor dashboard to watch how their investments are performing. Realty Mogul partners with private real estate companies to source quality deal flow and curates all the investments. For these real estate companies, they have access to a broader capital pool and tools to do investor reporting, investor communication and distributions.
About Real Property Funding Group
Real Property Funding Group is a subsidiary of Real Property Associates, a real estate brokerage in Seattle, WA founded in 1991. Real Property Funding Group performs mortgage brokerage and other financing services, and since 2010, has acted as a principal, in cooperation with a group of investors, in purchasing, rehabbing, and reselling single family homes and condominiums in the greater Seattle area.
Justin Hughes, Co-Founder, Chief Marketing Officer
justin (at) realtymogul (dot) com