Pittsburgh Technical Council

Small Change to Make Big Impact on Real Estate Crowdfunding

Small Change to Make Big Impact on Real Estate Crowdfunding

Article Published: December 19, 2016

Eve

The Financial Industry Regulatory Authority (FINRA) approved Small Change, the Pittsburgh-based crowdfunding platform, as the nation’s first Funding Portal dedicated to real estate. With a small stroke of a pen, or, more likely, click of a mouse, FINRA has ushered in a new era for real estate investors.

Now, at Small Change, anyone older than 18 can invest in real estate projects they like. They can do this with confidence, since Small Change is governed by regulations written to protect investors. There’s a limit to how much you can invest every year, so no one, not even Warren Buffet, can get in too deeply. And there are stringent vetting and disclosure requirements on all offerings. If you want to know more, you’ll find plenty of educational materials on the site https://smallchange.com. It is written in plain English.

Who’s behind Small Change? Eve Picker. Picker is an architect, city planner, urban designer, real estate developer, community development strategist, publisher, and instigator. She has spent more than 20 years healing the wounds of a city, by developing a portfolio of enviable buildings, all previously abandoned as beyond hope. Time and again, financing these tough projects was her biggest challenge. Crowdfunding, she believes, is an important financing tool for urban real estate developers. She wishes she had it years ago.

“Developers will use portals like Small Change to secure capital. Individuals will use portals like Small Change to build wealth and benefit their communities,” said attorney Mark Roderick, a leading expert in this new industry. “This is a brave new world. We are seeing the transformation and democratization of the U.S. capital formation industry.”

Small Change launched last year offering 506 (c) or Regulation D investment opportunities, which are reserved for accredited investors. These will continue to be offered alongside Regulation Crowdfunding opportunities. 

“While we won’t see this new world tomorrow morning, it’s coming,” said Picker. “Over the next few months we’ll be rolling out our first Regulation Crowdfunding offerings. We’re already working with developers in cities everywhere.”

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