Fundrise REIT
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Fundrise REIT (by Scott [IL]) Mar 9, 2019 8:09 AM
       Fundrise REIT (by Richard [MI]) Mar 9, 2019 8:47 AM
       Fundrise REIT (by Moshe [CA]) Mar 9, 2019 9:58 AM
       Fundrise REIT (by David [NC]) Mar 9, 2019 3:29 PM
       Fundrise REIT (by Scott [IL]) Mar 9, 2019 3:53 PM
       Fundrise REIT (by MMIT [VA]) Mar 9, 2019 5:25 PM
       Fundrise REIT (by Scott [IL]) Mar 9, 2019 6:17 PM
       Fundrise REIT (by MMIT [VA]) Mar 10, 2019 7:25 PM
       Fundrise REIT (by moby [IN]) Mar 10, 2019 9:02 PM

Fundrise REIT (by Scott [IL]) Posted on: Mar 9, 2019 8:09 AM

State Specific Question About: ILLINOIS (IL)

After 45 years in the rental business we are selling our properties. Giving "our uncle" his unfair share and investing the rest. Fundrise is an investment I'm considering. Thoughts?

Fundrise REIT (by Richard [MI]) Posted on: Mar 9, 2019 8:47 AM

Don't put it all with one group or fund or any one thing. Spread it around in different types of things and have a degree of safety.

If I may ask, are you simply retiring and decided to be done with the rentals or have local changes in govt and rules prompted the decision?

I ask because I am thinking of reducing my rentals due to a shift in govt that may be coming. My state shifted from R to D last election and I think rent control and other restrictions may be coming. Still, I'm further north than big cities, so it is not here in force yet. However, the city is currently talking registering rentals, rental inspections, and all types of new "modern progressive" rules for rental housing. Up here there are no slums BUT there is a big shortage of "affordable housing" according to the progressives and I'm hearing the word slumlords being tossed around more and more. Some seem to think all landlords are greedy slumlords who must be controlled and punished. Many just feel that market conditions should be ignored and they should only have to pay what they feel like. Each week I see more and more on Facebook saying "where are the cheapbrentals, wanting free firniture, free clothes, free appliances, or almost free cars. Traverse City is a hotbed of progressive lunacy and spreading. If it gets much worse I'm going to sell my units and go. The next 2 years will tell.

Fundrise REIT (by Moshe [CA]) Posted on: Mar 9, 2019 9:58 AM

I had never heard of Fundrise before, but offer you the following thoughts without knowing anything about it:

Offhand, it seems to me that Fundrise falls in the category of a "hedge fund" rather than a mutual fund. Whats the difference? Mutual funds are governed by SEC rules and money invested in them are protected by a mutual fund pool taken from assessments from mutual fund operators. I don't know about Fundrise. Are they governed by SEC rules? Under which rules? Are shares covered by any insurance pool. These are questions that you should ask.

Who are the fund managers? Do they have the same level of background as mutual fund managers? Are they licensed by SEC? What do they have to do or be to get whatever license they have?

Size of a mutual fund is important.

Are you actually buying a share in a RE project and thus are involved in the profit or loss of the project? Or, are you investing money in Fundrise who will use the money to buy shares for themselves, paying you a return on your "deposit". Or, are they collecting money from you to loan to the project in exchange for a share of any project?

These are some of the things you need to know.

What if Fundrise doesn't succeed? What happens to your invested money?

Fundrise REIT (by David [NC]) Posted on: Mar 9, 2019 3:29 PM

Don't give up control of your money now, you worked too hard for it.

Fundrise REIT (by Scott [IL]) Posted on: Mar 9, 2019 3:53 PM

Thanks for you feed back all. My wife and I have worked hard and we are NOT slum lords. But we are retired and getting tired and want to change our Realestate to cash. Then invest it so our mom hey will work for us. In my research Fundraiser is like a mutual fund invested in higher end Realestate in large city’s. We are turning the page on life and running and play. --172.56.xx.xx

Fundrise REIT (by MMIT [VA]) Posted on: Mar 9, 2019 5:25 PM

After 45 years of building and investing, what method are you using to sell your properties?

I have wondered about the best way to retire from the real estate business.

What type of properties do you have?

How many?

Why not turn the properties over to a property manager?

Thanks and good luck! --71.68.xx.xx

Fundrise REIT (by Scott [IL]) Posted on: Mar 9, 2019 6:17 PM

Hi MMIT, We are in a small town and have 7 houses and four commercial properties. We are mid 60's and began 12 years ago selling some of our properties to the tenants for no money down at 7% int. That has been a huge blessing and none have failed. We recently made a deal with a tenant to give him the house if he pays the rent for the next four years 48 pmts but he is responsible for all expenses. (Rent to own) Its been working out great and if he dies or fails somehow. We keep the house. That simple. And for management, we just want out!

Fundrise REIT (by MMIT [VA]) Posted on: Mar 10, 2019 7:25 PM

Hi Scott,

Thanks for the response.

As I buy properties, I keep wondering what my exit strategy will be and what to do with the proceeds from the sale.

I hope you and your wife have a long, happy, healthy retirement! --70.188.xx.xx

Fundrise REIT (by moby [IN]) Posted on: Mar 10, 2019 9:02 PM

I would suggest you put the money in a trusted national brokerage ie: Fidelity or the like. Then utilize their expertise in guiding you to an appropriate investment with you making the final decision. Fidelity has a premium money market that is paying decent, this a good place to park the money until that decision is made.

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