Real estate crowdfunding sites mushroom on the Internet

Washington

LAST month a Texas entrepreneur took to Craigslist with a surprising offer: For US$50,000, he would part with 5 per cent of a real estate crowdfunding startup that he said would generate profit within three months.

Seemant Nakra, who posted the ad, said it hasn't led to new investment in his Austin-based company, Equity Brick, but has generated interest from people who want to make crowdfunding investments in Texas apartment complexes.