Real estate crowdfunding platform PeerStreet announced on Monday the launch of its new lender platform. Get started today with PeerStreet LEARN MORE
With his deep Wall Street background, Nees will provide key guidance on multiple and varied capital sources for PeerStreet. Under his leadership, the Capital Markets team will focus on diversifying the company’s capital base, which will further stabilize the robust foundation of the business as [...]
“I thought this could be a really good fit – my background and experience put together with someone who had a great business plan at the right time, and I felt that PeerStreet’s was the most compelling,” Louis Nees says.
“There are a lot of assumptions baked into what I’m saying, but the existing market is ripe for transformation,” said Crosby, who works for a marketplace lender that primarily funds investors’ single-family bridge loans, but would consider funding home mortgages in the future.
Nees brings more than 30 years of experience to PeerStreet. Most recently, he served as the CEO of Fairlead Management, a consulting services company specializing in business strategy, corporate growth, and innovation.
“We’re delighted to have Louis join our team,” PeerStreet CEO Brew Johnson said. “PeerStreet has been experiencing tremendous growth and is quickly expanding our investor base and product offering — we look forward to Louis’ deep expertise as we hit new milestones.”
“PeerStreet says that Nees’ deep Wall Street background will provide key guidance on multiple capital sources for PeerStreet.”
“Even more importantly, PeerStreet says that no money has ever been lost by investors. Zero. Nada. That is pretty impressive.”
PeerStreet says it is making real estate lending transparent, allowing its members to view all the properties, all the details of the loan, including photos of the property, and how many other investors have chosen to invest alongside them, as well as what percentage of the loan is still [...]
PeerStreet has always focused 100% on first position liens on real estate. That means it is the safest place in the capital stack and first position to be paid back. And rather than sourcing loans from borrowers, we work with existing private lenders across the country who know their local real [...]
PeerStreet is integrating with Personal Capital so the firm’s customers will now be able to see their investments across platforms.
I wrote about PeerStreet for the first time back in March of 2017 after I had been invited to visit their HQ and interview their founders. Since then I have aggressively grown my investment accounts with them in a little less than 5 months.
If you’re looking for another way to passively invest, listen in to this one. Along with being an active real estate investor, Brett co-founded a platform for investing in real estate loans called PeerStreet.
“Many PeerStreet customers have asked for this integration with Personal Capital,” PeerStreet cofounder and COO Brett Crosby said. “We’re always working to improve the experience for our customers and provide greater control and transparency.”
The trajectory from big tech to fintech is becoming increasingly common. What makes for a successful transition and what can big tech folks take with them in their new ventures?
Four local startups were named to NYC-based CB Insights‘ prestigious Fintech 250 this week, offering continued proof that LA’s tech ecosystem is diversifying.
It’s an alternative to lending directly to an individual or small firm, with the crowdfunding site doing most of the work, checking out the borrower and judging the loan’s risk – and chasing the borrower for payments if necessary.
Brew Johnson, like some of the other CEOs in this list, is a big fan of sitting down and physically writing a to-do list. The CEO of Manhattan Beach-based PeerStreet also looks to a famous warrior-poet for a little bit of productivity advice.
“PeerStreet is democratizing real estate investing by giving investors access to real estate debt opportunities, an asset class that was previously not available to non-institutions.”
The Lend Academy Team picks their favorite podcasts from the first 100 episodes and includes Brew Johnson and PeerStreet in their selection.
“The reality is many of the new business models may go out of business because they are simply taking too much risk on their loans. We’re positioning PeerStreet for the ups and downs of the American economy.”
PeerStreet has been recognized as the Best Overall Peer-to-Peer Lending Platform in the 2017 FinTech Breakthrough Awards. The mission of the FinTech Breakthrough Awards is to honor excellence and recognize the creativity, hard work and success of FinTech companies, technologies and products.
In anticipation for the 2017 Benzinga Global FinTech Awards, taking place May 11 in NYC, PreMarket Prep sat down with several of this year’s nominees. In this installment we talk with Brew Johnson, Co-Founder and CEO of the real estate debt investment platform PeerStreet, about the [...]
PeerStreet’s unique marketplace allows investors to diversify their capital in an asset class that has been traditionally difficult to access. Loans are sourced and curated from vetted private lenders throughout the United States who have local real estate expertise and borrower relationships.
“’We strive to be responsive to our customers and give them the information they need to make better financial decisions,’ said Brett Crosby, co-founder and COO of PeerStreet. ‘This is part of our larger philosophy of providing more access, transparency and control for our [...]
“The goal of our system is to create a company the can scale while maintaining the quality of our end investments. And to do it while creating a culture that continues to attract the highest quality people we can find.”
On Cheddar TV, Brett Crosby makes the case that bridge loans are actually community improvement loans.
“We were positively overwhelmed with the high number and high caliber of entrees. These finalists represent some of the most innovative companies that are radically improving financial services through technology.”
“The Top Emerging Real Estate Platform category focused on younger companies that have demonstrated the greatest potential to impact the future of real estate investing. PeerStreet stood out as the top platform with its unique model, as it is not a direct lender and brings an innovative [...]
“Customers of both Betterment and PeerStreet can now view their PeerStreet positions within their investment portfolio on the Betterment dashboard, raising the spectre of further consolidation between online wealth managers – or robo advisors – and marketplace lenders.”
“I’m absolutely stoked to share the details of my recent visit with the founders of PeerStreet and what I’m dubbing my favorite investment of 2017 and beyond. This is going to become a very substantial piece of my overall asset allocation. It’s not often I get very excited about an asset [...]
“How has PeerStreet stress-tested their model against real estate cycles?”
“We exceeded $200 million in origination volume by the end of 2016. Our KPIs are based on loan volume and quality. Loan volume is great, but no amount of volume matters if you don’t maintain quality. We think our approach allows us to grow while preserving quality.”
“It seems like all the players in the marketplace lending space felt the cloud of uncertainty that surrounded the industry last year. Except for PeerStreet.”
“He’s among a handful of ex-Googlers applying computer science to finance…PeerStreet, a marketplace that matches real estate with investors, was co-founded by Brett Crosby, a former product marketing director at Google.”
“With general acceptance of companies like LendingClub and Prosper, we can do something like that with a much better asset class.”