From Socal Tech
There’s been a lot of hype recently about crowdfunding, particularly of a myriad of consumer-focused products on such sites as Indiegogo and Kickstarter. It seems like you can’t go anywhere without bumping into a dozen people all with their own projects on one of those crowdfunding sites, hoping to get enough investors in their projects to take them to the next level. However, to date, even though there have been many, successful fundraising campaigns on those crowdfunding sites–it’s been unclear what the return on that crowdfunding has been overall for backers. Recently, Los Angeles-based real estate crowdfunding site AssetAvenue (www.assetavenue.com) has launched its own flavor of crowdsourcing, focused on commercial real estate projects, and hired the first employee out of Indiegogo, Adam Chapnick, to help it with those efforts. We caught up with Adam to hear why he thinks commercial real estate makes more sense to invest in with crowdfunding that other areas.
First, for those not familiar with AssetAvenue, can you talk about what the company does?
Adam Chapnick: AssetAvenue is a brand new company, in what I think is the most exciting space in crowdfunding. It’s a new way to connect investors with opportunities they have traditionally been shut out of, where the biggest players have snapped up the most attractive investments. There have been a lot of changes that came from the JOBS Act which have enabled businesses like AssetAvenue to start to break that barrier. That’s what attracted me to the business, and that’s why it’s so exciting.