The housing market in San Francisco has rebounded and prices are steadily climbing toward the bubble levels of 2006.
Nicholas Carlson at Business Insider pulled some of the data for that here. There's also an ad for a San Francisco studio going for $2,795. Yikes!
A lot of people want to get into the the City by the Bay's market and take advantage of the growth but investing in a property takes cash, and a lot of it.
The down payments are unaffordable for most. You would have to be extremely wealthy.
Until now.
A Kickstarter-like website called Tycoon is changing the way people invest in real estate. The limited liability corporation brings investors together to purchase real estate they individually might otherwise not be able to afford.
Investments start at as little as $1,000 and are not risk-free, but if a property turns out to be a bust, at least that risk is spread around.
Anyone interested in investing completes a form and a Tycoon Real Estate representative contacts them and closes the deal within 24 hours.
The company was co-founded by Aaron McDaniel and Wen Wei last year.
McDaniel, the CEO, told Carlson he thought of the idea for Tycoon after the JOBS Act passed in 2012, enabling non-accredited investors to fund small private companies online and startups to solicit non-accredited investors.
"I think anyone who steps out and says this is risk free is full of bs and is lying," he told Business Insider.
Daniel also said the purpose of Tycoon was an "inclusion thing - to allow people to be part of something that only a small few were allowed to."
You can read the article by Carlson here.
