GROUNDFLOOR, a progressive real estate crowdfunding startup, has announced its launch into the Atlanta market with the opening of its pilot development project - a two-story quadruplex located at 748 Charles Allen Drive in the Midtown neighborhood.
An informational meeting and launch celebration will be held on Wednesday, Dec. 11 from 6-8 p.m. at Proof and Provision.
Taking advantage of Georgia’s innovative
securities laws and the Invest Georgia Exemption, GROUNDFLOOR makes real estate
investing to all, regardless of net worth or income. For the first time,
unaccredited investors can profit from real estate opportunities by backing
independent developers who choose to reach beyond the limitations of
traditional bank financing.
With the pilot project opening to investments starting at $100 late last month, GROUNDFLOOR seeks to change the status quo of real estate finance for the benefit of independent real estate entrepreneurs and investors who have the vision to back them. With the peer-to-peer funding facilitated by GROUNDFLOOR, investors earn uncommonly high rates of return, backed by real property as collateral, without the fees, restrictions, risks and black box complexities common to Real Estate Investment Trusts (REITs).
For its pilot project, GROUNDFLOOR seeks to raise a total of $300,000 to fund two loans sponsored by real estate entrepreneur and Managing Principal of RPG Properties Pat Gilroy. The loans will be used to refinance, renovate and lease a Midtown residential development and will be secured by the property until repaid with interest within a one-year term. Throughout the life of the loans, investors will be privy to confidential reports from the borrower on milestone achievements including construction progress and leasing performance.
“GROUNDFLOOR has created a refreshingly
flexible way to finance real estate projects,” said Gilroy in a news release. “This innovation
unlocks a previously untapped source of capital and will enable us to take on
more development projects in less time and with less risk than ever
For more information on GROUNDFLOOR and how to invest in the pilot project, please visit www.groundfloor.us. For independent developers interested in working with GROUNDFLOOR, please submit projects for qualification at www.groundfloor.us/developers