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Groundbreaker helps aspiring real estate moguls get projects off the ground

Groundbreaker helps aspiring real estate moguls get projects off the ground

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Published by Crowdsourcing.org

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Published by: Crowdsourcing.org on Sep 25, 2013
Copyright:Attribution Non-commercial


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9/25/13Groundbreaker helps aspiring real estate moguls get projects off the ground (exclusive) | VentureBeatventurebeat.com/2013/09/25/groundbreaker-helps-aspiring-real-estate-moguls-get-projects-off-the-ground-exclusive/2/3
 barriers.Groundbreaker’s role is to help entrepreneurs navigate the fundraising process, rather than cherry-pick the “best” deals. And unlike other crowdfunding platforms, like Kickstarter or WeFunder, it does not bill itself as a marketplace. Jelinek saidentrepreneurs have to raise money by reaching out to their existing networks rather than soliciting strangers.Entrepreneurs are responsible for executing their e-mail and social media campaigns and attracting attention to the projects.“By democratizing fundraising, more folks can becomereal estate ownerseither through investing or entrepreneurship,Jelinek said. “Crowdsourcing project ideas ensures that what is built fits the needs of its users better. Let the builtenvironment be created by those who actually use it.”Crowdfunding has erupted over the past few years, and people are now crowdfunding everything from quirky gadgets tomunicipal bridges. Real estate is also part of this trend. A company calledGroundfloorpowers a peer-to-peer platformdescribed as a “Lending Club for real estate”; and a company calledFundrisegives community residents the ability to investsmall amounts in local properties.This Monday,the ban on general solicitation lifted as part of the JOBS Act, which means that private companies can now publicly announce that they are fundraising.Real estate entrepreneurs can now publicly raise money for their projects, and Groundbreaker can help them do it.Jelinek and his cofounders are well schooled in the areas of real estate, securities, law, crowdfunding, and technology. Theteam not only offers entrepreneurs help with the technology but also with the ins-and-outs of the fundraising process.Jelinek used to work at Morgan Stanley, where he built its mortgage buying platform and helped finance over $14 billion inreal estate projects. Stefano D’Aniello is a securities lawyer, and Alex Jelinek has managed projects at Google, DeBarta, andIBM. Jacob Hoffer has built enterprise-level applications for SugarCRM and Cisco.Groundbreaker graduated from Cornell University’s accelerator program and closed eight projects during its beta period. Italso established a real estate incubator, which Jelinek described as “Y Combinator meets Kickstarter for real estate” to helpaspiring entrepreneurs make their vision a reality.The company is based in San Francisco.
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