Guest Post by Chris Rising who will be serving as a panelist at our Innovate Pasadena Coffee Meetup – CONNECT Weekend Edition
It’s with great pleasure that I take part in Innovate Pasadena’s upcoming CONNECT Weekend! I’m thrilled to watch Innovate Pasadena grow—and proud to be part of a group that reinforces my confidence in Pasadena’s future as an internationally renowned technology hub.
Recently I’ve been fascinated by how crowdfunding is changing the way ideas become reality. Many of you probably know all about the concept of crowdfunding and its growing popularity in helping startups gain momentum and support through the popular platforms of Indiegogo and Kickstarter. As a real estate developer, I was always curious about how this could be implemented in my own field. Up until the JOBS act was passed by our President, crowdfunding in real estate development was hampered by various SEC securities regulations; now, with those regulations eased, I’m excited to see what the future has in store.
I believe that, by partnering with the company Fundrise, citizens will finally (and rightfully) have more of a say in how their neighborhoods get developed, as well as the ability to invest in and ultimately profit from some of the projects they are passionate about. Developers can post transactions on Fundrise and, with the help of a detailed description and video, share their vision for the site. If someone sees and believes in the developer’s idea, he or she can invest in the equity portion of the development and ultimately earn income from the project. We see this as a phenomenal way to allow the community to benefit from local developments and to get them passionate about how their neighborhood is changing. Word about these projects will spread locally, garner excitement, and allow the people to have a say in what changes happen in their city.
This is an exciting new branch in crowdfunding that I believe will become ever more popular in the next few years; I’m looking forward to telling you all more about it soon!
Christopher Rising is President & COO of Rising Realty Partners.