I invested a 5-figure sum with RealtyShares in a supposed high-yield project backed by Residential Real Estate. RealtyShares did not properly vet the sponsor nor did they properly secure the investment funds with actual real estate collateral. No interest payments have been made, and it looks like this could be a total loss.
RealtyShares has communicated nothing other than this, "RealtyShares has hired a forensic accountant to help us thoroughly analyze the flow of funds from the investment to the payoffs. We are requesting additional books and records from the sponsor."
I have had great success with other crowdfunding sites, but I would strongly recommend steering way clear of RealtyShares.
Bottom Line: No, I would not recommend this to a friend
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