NEW YORK CITY—What do you do when you build a website for the crowdfunding of real estate and users come visit mainly at lunchtime, on their phones? You build an app for that.
Such was the thinking of executives at iFunding, a nine-month-old crowdfunding platform that has launched what it calls the first-ever real estate crowdfunding mobile application for investors, GlobeSt.com has learned EXCLUSIVELY.
The app, titled iFunding-Real Estate Investment through Crowdfunding, allows investors to perform every function in the real estate investment lifecycle that they currently can through a computer and web browser on iFunding’s website. It is available, at no cost to download or to use, on the Apple Store for iOS devices and on Google Play for Android products. It can be used on mobile phones and tablets.
App users can browse live investment opportunities and get property information, neighborhood data, the pro forma and legal documents, and they can interact with the sponsors. Users can apply filters to the system in order to search for properties geographically or by sector type.
The tool enables customers to complete an investment transaction entirely from the mobile device, including the signing of documents and the initiation of funds transfer. Investors also can switch between a phone or tablet device and a computer, should they prefer to use the latter for certain portions of the transaction.
Investors will get weekly updates on their assets and the information is stored in iFunding’s systems so there’s no need to save it, and they can elect to receive notifications when new deals are made available. The iFunding app also has social features, allowing accredited investors to interact with other investors, project operators, and iFunding executives to pose questions and have the answers shared across the community.
“Since some types of iFunding deals tend to fund in a matter of hours or days, the app will be an invaluable way for investors to stay informed about what opportunities are available, and to initiate investment transactions with just a few taps,” says Sohin Shah, co-founder of iFunding and product strategist for the app. “A large percentage of our web visitors are already on mobile devices, and early feedback shows a lot of excitement about having a custom app for streamlined and full-featured mobile access.“
Adds William Skelley, CEO of iFunding, “This is advanced use of technology for real estate investing in general, not just for crowdfunding. It reflects our vision for democratizing real estate investing through access and transparency.”
Those concerned about security can rest assured. Every iFunding user is assigned a secure log-in, all data traffic is encrypted, and no personal data is stored on the mobile device when the app is not in use.
All financial information is further encrypted and stored at a secure, third-party financial services provider focused on this purpose. It is not stored on a user’s device. Customers can register as an individual or as an entity, providing a further safeguard against security issues.
