Marshall Saunders has been around the block before.
After selling homes for 12 years, he acquired and grew RE/MAX Results into the single largest global RE/MAX franchise with 900+ agents across 32 offices.
Then, last fall, he decided to move out of his old business and into a new domain.
Upon liquidating his ownership in RE/MAX last year, Saunders has since become engulfed in the world of crowdfunding, specifically applied towards resitential real estate. In partnering with Jason Dailey (Brandography), Steve Pajor (Black Dog Investment Group) and Steve Havig (Lakes Area Realty) — they’ve set out to become the source for crowdfunded resitential real estate at SaundersDailey.com.
“I had already been manually working with buyers to pool money and buy properties with the assistance of a commodities broker for some time…and with this new era of crowdfunding, I just wanted to go all in on the technology,” he says of the digital transformation.
As it currently stands, SaundersDailey.com doesn’t rely on any equity crowdfunding laws for non-accredited investors.
Because the federal regulations are still murky and local implementation via MNvest is expected to take some time to play out, Saunders is launching exclusively for accredited investors now. He’s operating a service like AngelList for tech startups, allowing qualified investors to find and syndicate select real estate opportunities.
With SaundersDailey.com, members can verify themselves, view fund/property prospectus, setup a site showing, make an investment, and receive regular reporting on their own terms.
“Because we are automating the process and moving it entirely online, it enables us to lower costs while reaching many more potential investors,” Saunders suggests.
The team opened Residential Fund 1 one week ago and has raised $50k of a $250k round from accredited backers already. But the system capabilities aren’t limited to just internal funds, instead the platform and model has been engineered to allow others to form their own funds or white label for even broader portal applications.
“At this point, we’re operating outside the realm of MNvest using the 506c federal exemption for accredited investors. With that said, we are very aware of the situation here in Minnesota and regulations in surrounding market,” he says of the timing and potential to put crowdfunded estate investing into the hands of non-accredited investors as well. As such, SaundersDailey.com is sponsoring a MNvest celebration meetup later this month.
The venture is starting here in Minnesota with plans to expand across the Midwest, and eventually be nationwide.
“We will fundamentally change the way real estate investments are purchased near and far. It’s so exciting.”