RT Journal Article SR Electronic T1 Do Principles Pay in Real Estate Crowdfunding? JF The Journal of Portfolio Management FD Institutional Investor Journals SP 120 OP 137 DO 10.3905/jpm.2017.43.6.120 VO 43 IS 6 A1 Denis Schweizer A1 Tingyu Zhou YR 2017 UL https://pm-research.com/content/43/6/120.abstract AB This article uses a hand-collected sample of 733 projects from seven leading U.S.-based real estate crowdfunding platforms. The authors analyze how property, financing, and crowdfunding campaign characteristics explain the proposed returns of real estate crowdfunding campaigns based on the principles of investment risks in the real estate market. The authors find that projects with higher average investment risk tend to have higher proposed returns. The financing characteristics indicate that equity-financed projects and higher levels of leverage are positively correlated with higher proposed returns. They are also associated with the campaign characteristics of later payments to investors and higher minimum investment amounts.TOPIC: Real estate