A new investment platform that is somewhat similar to crowdfunding invites Millennials to invest in a fund that will pay for the construction and renovation of housing in large cities where real estate is expensive.
Fundrise, a housing management company in Washington, D.C., launched the eFund in Los Angeles and will startup another eFund in the nation’s capital in August. Investors can make money on their investment and receive a period of exclusivity to bid on finished homes before they’re made available to the general public. Business Insider reports that some investors hope that being an eFund investor can help them find that elusive property in a major metro that is within their price range.
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