Michael J. Perry, Lancaster, PA   Relo Specialist (KW Elite )

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Rainmaker
4,247,428
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Not personally but have read/heard of examples a few years ago.

Oct 10, 2018 06:16 AM
Ambassador
2,605,858
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

      There was that story on the news recently, where a couple wanted to reward some homeless guy who helped them out.  They raised enough $$$ through Go Fund Me dot com to buy the man a house.  

     But then the tale turned sordid; homeless guy started blowing the money on drugs and alcohol; the couple took the money (several hundred grand) and bought stuff for themselves instead.   Lawyers are now involved.

Oct 10, 2018 06:55 AM
Ambassador
5,708,458
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

I have read of a few attempting this, not sure if anyone took the bait though.

Oct 10, 2018 06:18 AM
Rainmaker
2,109,056
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I have not Michael. 

Oct 10, 2018 06:47 AM
Ambassador
1,879,149
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

I suspect it is about as successful as trying to sell a property through an essay contest. 

Oct 10, 2018 06:41 AM
Rainmaker
2,066,074
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL

Nope

Oct 10, 2018 08:21 AM
Rainmaker
1,598,130
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Never heard abou it.

Oct 10, 2018 08:12 AM
Rainmaker
1,231,605
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Guess you can try anything, but I know NO MONEY from me.

Oct 10, 2018 06:59 AM
Rainmaker
5,767,421
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Michael,

Heard about it. 

Oct 10, 2018 06:33 AM
Rainer
11,053
Bill Meloy
Palm Beach Gardens, FL
Senior Mortgage Advisor

Crowdfunding is a way of obtaining funds, usually through an internet platform. It is usually done for investment and commercial properties as owner-occupied residential usually has underwriting and compliance concerns which make this type of financing tough to finance in this way. Buyers in search of funds post their transaction information/ property considered and Investors can bid of an interest to lend up to a certain amount and rate they are willing to offer.

Oct 10, 2018 10:02 AM
Rainmaker
1,049,887
Doug Dawes
Keller Williams Realty Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Michael, cannot say I've heard of Crowd Funding unless you mean something on the order of Go Fund Me

Oct 10, 2018 07:38 AM
Rainmaker
1,243,604
Joyce Marsh
Joyce Marsh Real Estate LLC - Daytona Beach, FL
Joyce Marsh Real Estate LLC - Coast & Luxury

Yes I’ve heard about it but not the details or outcome. 

Oct 10, 2018 07:36 AM
Rainmaker
1,349,275
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

I've heard of the notion, never heard of anyone doing it and it working.

Oct 10, 2018 07:16 AM
Rainmaker
4,309,637
Richard Weeks
Dallas, TX
REALTOR®, Broker

I have not.

Oct 10, 2018 07:04 AM
Ambassador
3,072,002
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I see a lot of folks have the wrong idea about crowdfunding.  Crowdfunding is a personal loans where people pay it back and yes I know people who used it to buy a commercial property before (when it was young) and they have paid it all back with the interest and are still a successful business.  GoFundMe is a whole different thing.

Oct 10, 2018 12:30 PM
Rainmaker
808,903
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

I haven't. Not sure how it works. Buyer raises money, pays cash?

Oct 10, 2018 08:13 AM
Ambassador
4,725,380
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I have heard a few stories but who knows how accurate they are.

Oct 10, 2018 08:03 AM
Rainer
92,032
Jon K. Judd
Keller Williams Realty - Central Delaware - Dover, DE
GRI, e-PRO, SFR, Delaware Homes

Hmmmm... maybe I can buy that Lamborghini.... 

Oct 10, 2018 07:50 AM
Rainer
150,216
Michael Thacker - Re/Max Real Estate Center - Louisville
Re/Max Real Estate Center - The Thacker Group - Louisville, KY
Your best friend who just happens to be a Realtor

Wow! That's a pretty crazy idea, and I would be super jealous if it works! 

Oct 10, 2018 07:41 AM
Rainmaker
5,273,978
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I have not.

Oct 15, 2018 10:44 AM
Rainmaker
646,940
The Villages Realty
The Villages Realty - San Jose, CA
"Our Performance Will Move You!"

No, but I did a transaction once with a shared equity program for my buyer.  

Oct 11, 2018 07:12 AM
Rainmaker
4,799,701
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I have not, but I guess anyone can set up a page to do this in one of the many sites that do this.

Oct 11, 2018 05:56 AM
Rainmaker
4,433,809
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No.

Oct 11, 2018 04:52 AM
Rainmaker
1,426,200
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

See my other answer

Oct 10, 2018 09:45 PM
Rainmaker
4,337,142
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

I've heard about it.

Oct 10, 2018 07:23 PM
Rainmaker
1,760,639
Lyn Sims
Schaumburg, IL
Real Estate Agent Retired

Don't know but it was in the Realtor Mag so it must be so !!!

Oct 10, 2018 05:23 PM
Rainmaker
563,479
Maria Sapio
Keller Williams of Central PA - Carlisle, PA
Real Estate Agent- Carlisle, PA. Mariasapio.com

No, I have not -

Oct 10, 2018 04:16 PM
Rainmaker
1,708,235
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I think this is just the beginning.

Oct 10, 2018 03:31 PM
Ambassador
3,147,711
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Duplicate question or is there an echo in the room? 

Oct 10, 2018 03:04 PM
Rainmaker
868,688
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

No, and I doubt if too many sellers would accept an offer from a buyer using it.

Oct 10, 2018 03:04 PM
Rainmaker
6,977,533
Roy Kelley
Retired - Gaithersburg, MD

Nope.

Oct 10, 2018 02:10 PM
Rainmaker
3,676,973
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Michael J. Perry I heard about it!

Oct 10, 2018 02:01 PM
Rainmaker
5,580,072
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I've never heard of it..... we're straight an narrow here.... typical financing....

Oct 10, 2018 12:44 PM
Rainmaker
4,442,477
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Deja vu all over again! 

Oct 10, 2018 11:33 AM
Rainmaker
612,606
Eve Alexander
Buyers Broker of Florida - Tampa, FL
Exclusively Representing ONLY Tampa Home Buyers

Crowd funding is basically begging for money to buy something that you can't afford.

If a buyer needs to crowd fund, they will be in foreclose before the one year anniversary of their purchase.

I do not want buyers like that...

Eve

Oct 10, 2018 09:25 AM
Rainmaker
572,797
Greg Large
ERA Real Solutions - Grove City, OH
A Tradition of Trust

Seems I heard/read about a couple who raised DP money that way.

Oct 10, 2018 09:21 AM
Rainmaker
1,550,080
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Not in my experience, it is probably similar to those investment funds? 

Oct 10, 2018 09:18 AM
Rainmaker
2,057,433
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Great question. This is a new one on me Michael J. Perry 

Oct 10, 2018 08:53 AM