Last week, Nat Zorach of the Handbuilt City came to hack night to talk about their efforts to purchase buildings using crowdfunding.
The Handbuilt City uses a platform called Fundrise to help crowdfund real estate investments in St. Louis. Instead of one or two wealthy investors buying into one property, Fundrise allows local residents to invest as little as $100 dollars into a property deal. Here’s Juan-Pablo Valez introducing Nat and the concept of Fundrise.
Zorach then goes into further detail about Fundrise and the landscape of crowdfunded real estate investment.
Zorach then goes into further detail about his work including the ins and outs of mortgage law and the legal framework set up around buying real estate including dealings with tax debt owned on homes. In come cases, Zorach’s group has been able to buy homes from people who would otherwise lose them because they owned too much in tax. Their group bought the property, paid the tax and set up a way for the owners to pay back the difference.
Nat also stuck around to answer question from the OpenGovHackNight audience.
You can find out more about the Handbuilt City by visiting their website.
