Pure Capital Funding, a Birmingham-based crowdfunding platform, is offering the first opportunity for non-accredited Michigan investors to invest in Michigan-based real estate projects.
“Pure Capital Funding makes it possible for anyone to invest and make high yield returns, while also contributing back to the community that the investor has a stake in,” says platform founder Matthew Vogel.
Under crowdfunding laws passed in by the state legislature in 2013, non-accredited Michigan investors, or ones who don’t make enough money to qualify as accredited (accredited investors have an income of up to $1 million, assets of up to $2 million, not including their home), are able to invest in Michigan businesses, allowing them to raise capital.
With Pure Capital Funding, lenders are able to invest smaller sums, from $1,000 to $10,000, make interest on their loans, and connect directly with developers to research real estate ventures in Detroit and throughout Michigan.
After more than 20 years of real estate development in Michigan and south Florida, Vogel found that the out-of-town investment funds and institutional banks that were funding his projects had little or no connection to the communities where he was building.
“Our friends and neighbors, the people with a real connection to the projects, (previously) could not invest with us,” Vogel says. “It’s really for the small guy. We’ll build the communities together and then the money can stay there.”
To learn more, visit PureCapitalFunding.com.