Type:
Real Estate Debt
Focus:
Debt

Overall:

Platform Provided Due Diligence:

Platform Fees:

Quality of Deals:

Website  - PerrStreet

Fees - 0.25%-1.00% interest rate spread for servicing

Phone - 844-733-7787

 

PeerStreet may apply a servicing fee on each loan offered for investment. The servicing fee is a “spread” between the interest rate payable on a loan and the interest rate you receive as an investor. With this structure, PeerStreet has aligned our interests with our investors as we will only get paid when our investors get paid. Generally, this fee will be in the range of 0.25%-1.00% and it will always be disclosed.

PeerStreet is a marketplace where accredited investors can invest in high-quality private real estate loans. We provide access for accredited investors, funds and institutions to a historically difficult-to-access asset class.

PeerStreet loans are generally secured by first liens on real estate. PeerStreet partners with top-tier originators across the country and carefully vets their loans before making an offering to our investors. Most of our loans are short in duration (6-24 months) with LTVs typically below 75%. PeerStreet’s range of offerings provides investors the opportunity to build a diverse portfolio of loans across property type, geography, maturity, LTV, originator, among other characteristics.

In the event of a default, PeerStreet will handle the workout process and work on behalf of investors to protect their investment and maximize proceeds. Our in-house team has more than 97 years experience in residential and commercial real estate (average of 13 years per person), 52 years of law and 12 years of regulatory compliance, ensuring that the interests of our investors are protected at every stage of the default/foreclosure process. PeerStreet also holds loans in a bankruptcy-remote entity that is separate from our primary corporate entity. In the event PeerStreet no longer remains in business, a third-party “special member” will step in to manage loan investments and ensure that investors continue to receive interest and principal payments. Additionally, investor funds are held in an Investors Trust Account with City National Bank and FDIC insured up to $250,000.

PeerStreet may apply a servicing fee on each loan offered for investment. The servicing fee is a “spread” between the interest rate payable on a loan and the interest rate you receive as an investor. With this structure, PeerStreet has aligned our interests with our investors as we will only get paid when our investors get paid. Generally, this fee will be in the range of 0.25%-1.00% and it will always be disclosed.

Due Diligence & Discussions

Share your experience. Rate and comment!

Alon Levy

Jul 24, 2018

This specific platform does not let you open several accounts under the same username which is annoying if you investing through llc’s and personally. 
Otherwise deals seem to be relatively safe and abundant. Only 2 out of over 15 investments are late after over 2 years with them. The interest rates are lower than what I consider the risk factor for them, which makes this platform less attractive (on paper) than others. 

 

Karen Thompson

Jun 13, 2018

Peerstreet was the first platform I invested with when I was less educated about the space.   I am currently concerned about their model, that they buy debt originated by other Hard Money Lenders.   Recently I had a property go to foreclosure which was a "fix and flip".  The principals failed to complete the construction before running out of money.   In addition they took out second level debt on the property.   I think if there was a "cop on the beat" the construction funds wouldn't have been released without the lender monitoring the progress but since Peerstreet doesn't originate the loans I think they are less involved.  I'm not investing there anymore.

E C

Mar 12, 2018

I haven't had issues with Peer Street.  The customer service reps respond very quickly.  The return on the deals are on the lower end.  But the platform is easy to navigate.  

Brandon Vogt

Feb 02, 2018

I have invested in 18 loans on Peer Street. 15 have paid off. Of the remaining 3 loans, 1 is current (but extended 2x), 1 is 90+ days late, and 1 resulted in a foreclosure. 

I've yet to lose principal, but am interested to see how the remaining 3 loans pan out. 

Overall, my expectations were higher. With yields on the low end, and 10%+ of my loans non-performing, I will not be making additional investments via Peer Street.

Gary Rebensdorf

Nov 08, 2017

I have a couple deals with Peer Street. One is performing as planned and the other paid off a couple days ago.  Seems like there should have been some communication about that. Certainly concur with the Auto-Invest comments, hence I don't do much with them. I like to look at the deals first.  One big plus on Peer Street is they use current LTV as opposed to many I have seen that use ARV. Perhaps the A doesn't represent After but Astromical!

I usually like what I see however their yields are lower than I care to invest in.

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Rated 2.6/5 based on 20 customer reviews

Website  - PerrStreet

Fees - 0.25%-1.00% interest rate spread for servicing

Phone - 844-733-7787

 

PeerStreet may apply a servicing fee on each loan offered for investment. The servicing fee is a “spread” between the interest rate payable on a loan and the interest rate you receive as an investor. With this structure, PeerStreet has aligned our interests with our investors as we will only get paid when our investors get paid. Generally, this fee will be in the range of 0.25%-1.00% and it will always be disclosed.

PeerStreet is a marketplace where accredited investors can invest in high-quality private real estate loans. We provide access for accredited investors, funds and institutions to a historically difficult-to-access asset class.

PeerStreet loans are generally secured by first liens on real estate. PeerStreet partners with top-tier originators across the country and carefully vets their loans before making an offering to our investors. Most of our loans are short in duration (6-24 months) with LTVs typically below 75%. PeerStreet’s range of offerings provides investors the opportunity to build a diverse portfolio of loans across property type, geography, maturity, LTV, originator, among other characteristics.

In the event of a default, PeerStreet will handle the workout process and work on behalf of investors to protect their investment and maximize proceeds. Our in-house team has more than 97 years experience in residential and commercial real estate (average of 13 years per person), 52 years of law and 12 years of regulatory compliance, ensuring that the interests of our investors are protected at every stage of the default/foreclosure process. PeerStreet also holds loans in a bankruptcy-remote entity that is separate from our primary corporate entity. In the event PeerStreet no longer remains in business, a third-party “special member” will step in to manage loan investments and ensure that investors continue to receive interest and principal payments. Additionally, investor funds are held in an Investors Trust Account with City National Bank and FDIC insured up to $250,000.

PeerStreet may apply a servicing fee on each loan offered for investment. The servicing fee is a “spread” between the interest rate payable on a loan and the interest rate you receive as an investor. With this structure, PeerStreet has aligned our interests with our investors as we will only get paid when our investors get paid. Generally, this fee will be in the range of 0.25%-1.00% and it will always be disclosed.