FBF #620: The Future of Crowdfunding -- with Ian Formigle of Crowstreet
Real Estate Investing for Cash Flow with Kevin Bupp
Kevin Bupp
4.8 • 679 Ratings
🗓️ 21 July 2023
⏱️ 48 minutes
🧾️ Download transcript
Summary
Today's Flash Back Friday Episode is from Episode #237, which originally aired on July 9, 2019.
In this episode of the Real Estate Investing for Cash Flow Podcast, Kevin talks to real estate expert Ian Formigle. Ian is the vice president of investments at CrowdStreet, an online commercial real estate platform that helps diversify portfolios with institutional-quality, expertly reviewed, commercial real estate investments. He is also the author of the book "A Comprehensive Guide to Real Estate Investing".
In this podcast, Ian shares how he got into the business as a multi family home investor. He talks about the 2008 financial crisis and gives some insights into what could have been done better. Ian explains what they do at CrowdStreet and breaks down the process of how they connect and work with sponsors and investors. He also differentiates between three ways investors can invest through CrowdStreet.
QUOTES:
"Just because something is going better than you think it could go, well maybe you should ask yourself what's going on there because probably it's unsustainable."
"For every one hundred potential deals that show up on our doorstep, five of them actually make it onto the market place."
"If we're going to be in a deal, there has to be a relevancy there, nobody's doing this for fun, we're doing it because there is a product market fit between sponsor and investor at the end of the day."
"So what we do is we give investors good tools to analyze and track their portfolio in their own dashboard and so that's what the investors look in for, and so we are the communication infrastructure…"
"These days, we're finding that the typical sponsor on the market place has started on average to over two billion dollar worth of deals, has been in multiple markets and has ten plus years of operating experience in the entity level."
Recommended Resources:
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If you're a high net worth investor with capital to deploy in the next 12 months and you want to build passive income and wealth with a trusted partner, go to InvestWithKB.com for opportunities to invest in real estate projects alongside Kevin and his team.
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Looking for the ultimate guide to passive investing? Grab a copy of my latest book, The Cash Flow Investor at KevinBupp.com.
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Tap into a wealth of free information on Commercial Real Estate Investing by listening to past podcast episodes at KevinBupp.com/Podcast.
Learn more about Kevin's investment company and opportunities for Lifetime Cashflow at sunrisecapitalinvestors.com.
Transcript
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| 0:00.0 | Welcome to this week's edition of Flashback Friday. It's your opportunity to get some good review by listening to episodes from the past that Kevin is handpicked to help you along your investment journey. If you like to partner with Kevin and join his team at Sunrise Capital Investors, head to invest with Sunrise.com to learn more. That's |
| 0:22.1 | invest with sunrise.com. Enjoy the show. Now, our guests for this week's show is real estate |
| 0:28.8 | expert Ian Formigli. Ian is a real estate professional and serial entrepreneur with over 20 |
| 0:34.0 | years of experience in real estate private equity, equity options, trading, and |
| 0:38.0 | startups. Ian is vice president of investments at Crowd Street, overseeing its marketplace, |
| 0:43.1 | an online commercial real estate investment platform that has completed nearly 300 |
| 0:46.9 | offerings totaling some $11 billion of commercial real estate. |
| 0:51.5 | Ian is also the author of the Comprehensive Guide to Commercial |
| 0:54.3 | Real Estate Investing, and he is a contributing author at Forbes.com. Now, prior to joining Crowdstreet, |
| 1:00.1 | Ian was VP of business development for Scanlan Kemper Bard companies, where he managed the firm's |
| 1:05.6 | alternative investment platform and served as a senior acquisitions officer. Previously, |
| 1:10.5 | Ian co-founded and served as CEO of Clarice officer. Previously, Ian co-founded and served as |
| 1:12.0 | CEO of Claris Property Ventures, a regional real estate private equity firm that focused on |
| 1:16.6 | multifamily acquisitions. Now, Ian began his career as an equity options market maker and member |
| 1:22.6 | of the Pacific Exchange. Ian holds a BA in economics and a BA in Political Science from the University of |
| 1:28.3 | California at Berkeley, as well as a Series 7 and Series 63 licenses. Now, here's what you're |
| 1:33.7 | going to learn in our time with Ian today. You're going to learn how Ian got his start as a |
| 1:36.9 | multifamily investor and why he chose to focus on Birmingham, Alabama, as his target |
| 1:41.7 | investment market. You're going to learn what Ian would have done |
| 1:44.7 | differently given the chance to go back in time prior to the crash of 2008. You're going to learn |
| 1:50.0 | a story behind Crowd Street and what it looked like being on the ground floor of what is now |
| 1:54.8 | one of the largest real estate crowdfunding platforms. You're going to learn how CrowdStreet |
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