Platform is very easy to use. I would like access to the status of closed deals that compare actual results to their original projections
Review by Saver Helfers3 months ago
After laboring through the verification process (which is done through VerifyInvestor.com, which is VERY problematic), I made an offer on an investment, but finally had to retract and close my account due to an extremely unpleasant experience with their customers support (Reed L). I inquired with their about how the investment would be funded (the minute details that are missing from the FAQs), and instead of a professional explanation, I got a very patronizing and disrespectful reply. The problem being that funding with their investment partner required WAY too many moving parts (wiring to a bank, which then wires to another bank and so on). Apparently, this lack of 'integration' is common throughout their invesment partners. They really need to work on this and make the whole process more efficient. They certainly have some attractive offerings. But, I'm happy to do my investing with other, more professional platforms.
Review by AnisaOnline3 months ago
We have made 5 investments in CS, totaling $240K over the last 2 months, and this was our first foray into CRE. Here's what I can say, why I've given them only 3 stars (for now), and if I'd continue to use their platform:
• Excellent variety and volume of offerings - especially compared with the other crowdfunding CRE sites I've reviewed. You can invest in just about any vertical/timeframe/return you want.
• Excellent educational and support resources. Better than any other site I've reviewed, including videos, PDFs and web pages. They provide you with the tools you need to become an educated CRE investor if you wish to invest the time.
• Really good customer dashboard (few things don't work, and too soon to see how well it works with regards to reporting, since we just started investing - but looks promising).
• All but one of their support staff are very responsive, professional, and really helpful.
• Creative new fund offerings with the Blended portfolios, along with a fully managed investing option.
• They appear to do a really good job of vetting their sponsors. I say 'appear' because only time will tell how well they're vetted, but I think they say they only present 3% of their sponsors who apply. Seems pretty selective.
• Process is fairly smooth, streamlined and logical on their website, and walks you though most of the steps from selecting an Offering, to being fully invested, having executed docs, and getting reporting. However, there are a few gaps (see below).
• Their offering webcasts are really helpful and give you an opportunity to engage the sponsor directly, prior to making an investment commitment. They also record them and they're easily accessible if you miss the live event.
• Over-subscription is becoming a big problem. They've become a victim of their own success and now some deals get fully funded before the initial webcast has even ended - and they've provided nothing on their website to give any feedback or indication of this status - even when I've taken time to suggest to them what and how to do it, and offered to be available for questions if needed - essentially helping them build a better product IMHO.
• Their process has a pretty big gap in the time after you've committed to an investment, and when you get confirmation that your deal is moving forward, and when you can expect fully executed docs, and reporting to be visible - so there is a period where you're left guessing if your investment is proceeding or not. This isn't clearly documented on their site and what I think I've learned, through trial and error is that every deal and sponsor is different, and the timeliness of these events, and communication of when things will happen is dependent on how well each sponsor manages it - so there is no consistent pattern or predictability in the process. It would have helped to know that going into each deal.
• Info on sponsors is inconsistent - sometimes it shows data, others it doesn't. Would be nice if they presented a consistent set of metrics for every sponsor so that you could compare total portfolio activity / total assets managed / years in business / past performance of all offerings vs. CS offerings, number of offerings on C/S consistently, in an apples:apples manner. They also don't have a single sponsor profile page where you can get your arms around a sponsor's performance at a macro level - you have to go investigate each offering from each sponsor individually and then put your own matrix together. This was something else I suggested to them. Maybe nobody else needs this and it's due to my being new to CRE - but I know it would have helped me. After I put this together on my own, I started to see some patterns with certain sponsors that helped me make investment decisions. I do understand this could be due to sponsors new to crowdfunding not wanting to provide this info and CS has to find a balance between attracting sponsors and providing this info - but consistent presentation is big for me. OTOH, C/S does seem to provide more (vetted) offerings than other platforms so it's a trade-off.
• Problematic integration with social media that works inconsistently and does not give you ability to control site time-outs.
• Not all of their staff are great. One in particular seemed disrespectful and repeatedly did not address me by my name - even after having it pointed out to him multiple times.
• Sometimes their support staff have to be engaged multiple times to get a response. One VERY detailed request I sent them, where I invested a significant amount of my time to detail their process took 5 days to get any response - even with their CEO cc'd. I've been a CEO and *always* made it a point to be responsive to any and every customer, prospect, or job applicant - even as we were experiencing huge growth. I was never "too busy" to personally respond to inquiries - especially from a customer. Not looking for dozens of calls or emails - just one would have been nice, after he was personally engaged. When the very first email a new customer gets is from a CEO (like C/S does), you set the expectation that as the CEO, you'll be responsive in the future...IMHO.
That all said, balancing the pros and cons, I intend to continue to use the CrowdStreet platform. I believe that if they address the cons, they'll have a nearly perfect platform for CRE - none of their shortcomings are insurmountable problems - these are the growing pains of a 5-year old company. I would have given them 4 stars but this site doesn't change the color from green to yellow till 3 stars and I felt this (detailed and honest) review needed to stand out from all the other perfect scores, and I do not believe they deserve a perfect score (yet).
Review by Gearsoft4 months ago
Good choice of investments with simplified detail information.Lately it is difficult to reach someone on phone when you are filling out documents if there is questions and information need about sponsor.Would like to have chart of performance of all investment on their website.They had one 2 yrs ago.
I have used them for last 2 yrs and will continue to use them.
Review by Bafford4 months ago
Reasonable to use but even if you express high interest in an offering before its made available, the best deals close before any regular people can get access to them.
Review by Shatay4 months ago
I have made two investments through Crowdstreet, both with the same sponsor. They have a very good array of investments but so far Crowdstreet's and the sponsor's communications have been seriously deficient. My calls to Crowdstreet have gone unanswered (left voicemails and not returned). My queries via their site also have been ignored. As to the sponsor, one investment has had a rocky start. They failed to respond to questions and then got defensive when they finally responded and also ignored the crux of the questions. My comments to them about their communications were answered with irrelevant information. These are the first and last investments I will make through Crowdstreet unless and until there is some acknowledgment of the problem and a plan to fix it.
Review by SurferSkiGirl Derrow5 months ago
They gave me Excellent Support. Good Deals. Quality Due Diligence. BEST WISHES to the CrowdStreet and all its StakeHolders.
Review by Viplove5 months ago
CrowdStreet is a great platform for real estate investment opportunities for accredited investors. They do good vetting and due diligence of sponsors and offerings, though you will still need to do your own due diligence based on your investment objectives and risk tolerance. I love that you can just print the webpage of any offering to get a good summary; that they have no fees or profit cuts for investors, and that they help facilitate and track your on boarding for investments. Once you are invested, they have a forum for the sponsor and all investors, though I do not see much activity for some of my investments. They continue to be my “go to” platform of choice and I am an active user.
Review by Clickerclarke Praje5 months ago
I have invested 190K in 5 deals in about 5 weeks through CrowdStreet. I have also invested through some of their competitors. CrowdStreet's online platform is second to none in terms of ease of use, information delivered and efficacy. Breadth of deals has been very good with representation across many different sectors with attractive potential returns. Responsiveness from their investor relations department has also been timely and informative, making you feel more comfortable with your investments. Based on what I have seen thus far, it would appear that CrowdStreet is the industry leader in the online crowdfunding CRE space. The only negative I have experienced thus far is not being able to participate in an over-subscribed deal that I thought I was in on. You have to be on your toes to get into the top deals. I have little doubt based on the performance of this company in all other respects, that they will likely figure out a way to address this issue going forward
Review by Mary Maxwell Watsabaugh5 months ago
I have been investing with Crowdstreet since early 2018. They are very professional, and seasoned real estate professionals. I started to receive distributions on time per proforma. The number of investors has grown very quickly and frequently, you need to act within 24-48 hours in order to participate in their offerings. I intend to continue using their platform. I have recommended them to associates and do so without hesitation.
Review by Madiea7 months ago
We have invested in 6 projects through CrowdStreet over the past 18 months. Real estate was an area we had really not allocated dollars in as part of our investment strategy. The platform enabled us to invest in a variety of projects with a reasonable financial commitment per project ($25-50K) versus having to have $250K and up to be able to invest in these type of projects. The CrowdStreet platform is educational, informative and user friendly. The staff have been nothing but responsive whenever we have a question or need clarification. Time will ultimately tell if we picked great projects but so far we are doing very well and receiving returns on our investments. Thank you, CrowdStreet!
Review by Jorganna8 months ago
Very easy to do business with. Competant and seem to throughly vet all offers. Any questions I had were answered by return phone call within the same day.
Review by Keybordtrner8 months ago
I was very happy with the amount of information provided and the responsiveness of the CrowdStreet team. I had questions and they were responsive in answering them.
Review by Junielyn9 months ago
I have been investing through their platform for the last two years and it has been a great experience. The team is responsive, accommodating, and seems to deeply care about the quality of projects that come on the platform. On the neutral side, I have not seen an exit on my investments - so cannot comment on how the projected numbers line up with the actual returns.
Review by JaxMaw10 months ago
Highly recommended for accredited CRE investors. Wide variety of different CRE offerings and sponsors that have all been vetted by professionals with strong experience in the field.
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