Bookmark this page on your mobile

QR Code image

What is this?

Daily Court Reporter - News Want to invest in real estate? There's an app for that

 

Want to invest in real estate? There's an app for that

KEITH ARNOLD, Daily Reporter Staff Writer

Any adult with a smart phone, $500 and 90 days may dip his toes into the waters of real estate investment without the risk of losing his stake.

The smartphone app, Fundrise, offers a 90-day satisfaction guarantee, what its developers characterize as a "zero-stress way to see if (the app) is a good fit."

The guarantee promises buy back of the original investment amount for first-time investors who are dissatisfied with the experience.

App users invest in a diversified portfolio of real estate projects throughout the country, according to the description of the online tool.

An investment team identifies suitable projects, acquires them and manages them on behalf of users.

The approximate, current allocation is displayed in a portfolio, and users should expect it to grow and change over time as Fundrise acquires more projects, while others are sold or pay off.

Investors earn returns primarily in two ways - quarterly dividends and share appreciation, app operators explained.

The returns ultimately come from the individual real estate assets in an investor's portfolio, such as interest, collected rental income collected and property value appreciation.

"As a shareholder, you are entitled to your pro-rata portion of any returns," the app's companion website (fundrise.com) noted. "Actual results may vary and there can be no guarantee of enhanced returns due to investing on Fundrise or the use of Fundrise Advisors' services."

App users can expect quarterly dividend payouts typically in the middle of the month following the month in which the quarter ended.

Additionally, users may receive additional periodic cash distributions as certain underlying properties are sold.

Share values typically are recalculated on a quarterly or semi-annual basis.

Having recognized the long-term, illiquid nature of real-estate investment, the app is aimed at investors who have a minimum time horizon of approximately five years.

"However, we have adopted a redemption plan whereby an investor may obtain liquidity monthly, following a minimum 60-day waiting period after submitting their redemption request, subject to certain limitations," the website detailed.

Fees, which include a 0.85 percent annual asset management fee and a 0.15 percent annual investment advisory, are 40 percent more cost-efficient than publicly available investments, the site claimed.

Advanced plans, offering greater diversification and an app user's ability to customize a portfolio, are available as an no-cost upgrade once the user has invested $1,000 with Fundrise.

Date Published: November 26, 2018

 

Copyright © 2018 The Daily Reporter - All Rights Reserved

 

Wright State University agrees to pay government $1 million for visa fraud

Wright State University’s Board of Trustees has accepted responsibility for visa fraud offenses on behalf of the university and agreed to pay the federal government $1 million.

Settlement expected to improve Ohio's special education system

An organization championing the rights of Ohio special education students announced last week that it had arrived at a settlement with the state in a 25-year-old class action lawsuit seeking sufficient resources for the public instruction of disabled students.

Attorney General DeWine offers holiday shopping tips for consumers

Ohio Attorney General Mike DeWine recently offered consumer protection tips for the holiday shopping season.

Legislation proposed to ensure financial resources for counties of capital crimes involving multiple victims and defendants

When a multi-defendant capital crime occurs in a county with limited resources, local officials may be unable to seek justice because of the extraordinary cost of prosecuting such a case. Recently, Ohio Auditor Dave Yost was joined by Senator Bob Peterson and Representative Shane Wilkin to call for legislation to address the financial strain on a community brought on by cases involving multiple victims and defendants.

Chinese national sentenced to nearly six years in prison for distributing opioids and other drugs that were shipped from China to the U.S. and ultimately to Ohio

A Chinese national who had been living in Massachusetts was sentenced to nearly six years in prison for distributing opioids and other drugs that were shipped from China to the United States and ultimately to Ohio.

Ohio's young hunters harvest more than 6,500 deer during youth gun season

Ohio’s young hunters had a successful weekend and checked 6,563 white-tailed deer during the two-day youth gun season, Nov. 17-18, according to the Ohio Department of Natural Resources (ODNR). During last year’s youth gun season, 4,958 white-tailed deer were checked.

Kroger shooting suspect charged with federal hate crimes and firearm offenses

Gregory A. Bush, 51, was indicted recently by a federal grand jury on hate crime and firearm charges arising out of the racially motivated murder of two African-American patrons at a Kroger grocery store, and the attempted murder of a third, on Oct. 24 in Jeffersontown, Kentucky. The indictment was announced by Acting Attorney General Matthew Whitaker, Assistant Attorney General Eric Dreiband for the Civil Rights Division, U.S. Attorney Russell Coleman, and FBI Louisville Special Agent in Charge James Robert Brown, Jr.

Proposed legislation designed to make children safer in homes with guns

Lawmakers in the Ohio House of Representatives heard testimony recently about a measure that would criminalize a Ohio gun owner's failure to secure or make a firearm inoperable in circumstances in which a minor may gain access to the weapon.

Former nonprofit executive director arrested and charged with embezzling $172,000

A former executive director of a Cleveland community development corporation was arrested this morning for embezzling more than $172,000 from the Collinwood and Nottingham Villages Development Corporation.

Secretary Husted releases new business filings figures

Ohio Secretary of State Jon Husted just recently announced 10,876 new entities filed to do business in Ohio last month, an increase of 1,626 when compared to October 2017.

Ohio Peace Officer Training Academy receives $280,000 in grants for law enforcement training courses

Ohio Attorney General Mike DeWine recently announced that his office’s Ohio Peace Officer Training Academy has received two grants totaling $280,000 to provide training for Ohio law enforcement officers on topics including identifying impaired drivers and investigating traffic collisions.

Bar admission caps years-long journeys for almost 600 new attorneys

Nearly 600 attorneys took their oaths and received their certificates to practice law before all seven justices at the Ohio Supreme Court’s annual fall bar admission ceremony at the Palace Theatre in Columbus.

Football runs past Morehead State, 63-20

On a chilly Saturday afternoon at Welcome Stadium, the Dayton Flyers' offense came out on fire and took control of the game well before halftime.

Public Health provides bikeway signs with the goal of increasing physical activity

Public Health - Dayton & Montgomery County’s Creating Healthy Communities (CHC) program has provided bikeway signs in Old North Dayton to direct residents to the Great Miami Recreation Trail, Mad River Recreation Tail, Stuart Patterson Park, and other Old North Dayton destinations. The goal of the project is to increase the number of Old North Dayton residents who have access to places for physical activity.

WSU men’s basketball slips at Murray State

The Wright State men's basketball team went on the road Saturday, November 10, for their first game away from the Nutter Center and fell at Murray State 73-54. WSU is now 1-1 while the Racers are 1-0.

Clerk outsmarts phony owner of Ohio Bureau of Workers’ Comp rebate check

An Akron sex offender added forgery to his criminal record last month after a clerk at a Check Smart thwarted his attempt to cash a $5,500 rebate check from the Ohio Bureau of Workers' Compensation (BWC) that belonged to a church-owned day care center.

Proposal would make it legal to post a photo of your ballot

A pair of Republican lawmakers are making an attempt - albeit late in the legislative session - to extend free speech right up to the nearest voting machine.

Newton Falls woman indicted for stealing $377,000 from healthcare plans she administered and using the money to pay personal and business expenses

A 26-count indictment was filed today accusing a Newton Falls resident of stealing more than $375,000 from healthcare plans she administered and using the money to pay for personal and business expenses, said Justin E. Herdman, United States Attorney for the Northern District of Ohio.

PUCO encourages safe driving around motor carriers during the holidays

During the winter holiday season, Ohio’s world-class transportation system will be heavily relied upon as travelers visit family and friends. Ohio ranks fifth as one of the most highly traveled states in the country, even as some areas receive up to 68 inches of snow annually.

Akron man sentenced to nearly 10 years in prison after ordering 500 grams of a fentanyl analogue from China

An Akron man was sentenced to nearly 10 years in prison after ordering 500 grams of a fentanyl analogue from China.