Real estate’s new frontier: Crowdfunding
Here is the breakdown. It does not actually have any operations in China, it is in fact a Florida corporation. It conducts its business webblog through subsidiaries and VIEs. China HGS does not conduct any substantive operations of its own.
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Prodigy network , which raised millions of dollars in small increments to fund a skyscraper in Bogota, Colombia, has now set its sights on a project in Manhattan. While the JOBS Act lifts the ban on marketing today, another part of it, which allows unaccredited investors anywhere to invest up to $2,000 a year in a real estate company, is still mired in rule-making at the S.E.C. Once that is settled, the door will be wide open for crowdfunding real estate. That could give way to revenue not just from rent, but from refinancing or selling the property.
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