In case you were wondering if crowdfunding real estate could work here in Seattle, well, how could it not? That kind of thing is right up our alley (perhaps literally...). Real estate crowdfunding company Fundrise took that bet and ended up seeing their upscale single family home project at 4847 NE 45th St. in Laurelhurst get fully funded in six days. The $250K raised will be turned into a newly-constructed 3,300 sq. ft. 4-BR/3.5-bath built by local developer Build Urban with an expectation to be 5 Star Built Green. The anticipated construction start date is January 2015 with completion by June 2015. So what will the investors get? Fundrise expects investments to return 16% annual (8% paid current & 8% accrued) once the project is completed and sold.
· Upscale Seattle Single Family Home [Fundrise]