Realty Mogul issued the following release sharing the news that they’re now going to be active in four states in the US: Washington, California, Tennessee and Kansas. CEO Jilliene Helman shares a bit of insight into how Realty Mogul is strategically choosing which states to support over time, and she also shares that Texas is next on their list. Read below…
Realty Mogul announced today that it has expanded into both Kansas and Tennessee and become the first crowdfunding for real estate company to be active in four separate markets. Founder and CEO, Jilliene Helman, remarks “We’re incredibly proud to be trailblazing in the crowdfunding industry and I am grateful to our team for being able to get four markets off the ground in just four months.”
When asked why those markets specifically, Helman shared, “We like the fundamentals in the markets where we are investing. Prior to this expansion, we were in California and Washington State, both very strong markets. Before deciding to invest in Tennessee, specifically Memphis, we analyzed a variety of markets and chose Memphis due to strong economic indicators including rent to price ratios, affordability index, lack of volatility in the economic downturn and job growth.”
As for Kansas, Helman remarked that the company had the opportunity to invest alongside one of the largest commercial real estate companies in Kansas, with over $3 billion in transactions across the principals, an opportunity “too good to pass up”. The transaction that was closed in Kansas was a 72-unit apartment building in Ogden, Kansas on the outskirts of the Fort Riley army base.
As for future plans, Realty Mogul wants to maintain its status as the largest crowdfunding company for real estate and the next state it is tackling is Texas. With job growth, population growth and opportunities in real estate, it’s a logical next step for the company who is taking on this new industry, crowdfunding for real estate.