"Lack of transparency, questionable sponsors, no support after deal closes."

As a 4 year investor, I won't be making any more investments with Crowdstreet.

Latest issue... a sponsor I invested with mailed a check to my previous mailing address. Check was then cashed (not by me).

Sponsor doesn't respond to emails requesting info, failed to update their records with correct mailing address, claimed they were sending a new check, and now 6 weeks later, tells me it the original check was cashed fraudulently and there's nothing they can do.

Crowdstreet needs to help facilitate payments and communication, but the only response from Crowdstreet when there are issues is a shoulder shrug and "not our problem" attitude.

Sorry Crowdstreet - but this is your problem.

"Lack of Basic ACH support For Non-Business Investors"

The biggest problem in crowdstreet is funding the money to the investment company. They ask us to send funds by ACH or wire. First of any only businesses can initiate ACH transaction and so if you are a personal investor, this is out of question. The next option is wire the funds and so every time you invest, you have to spend $40. They (Crowdstreet) charges anywhere from 1-2% fees from the other company and they don't provide even basic funding mechanism for investors to fund the required money. They will not even respond to your queries since every time you call their 800 number, you leave a voicemail and no one answers back. Even by email they don't answer your questions. Their customer support is deplorable. The platform concept is good but for personal investors, the entire experience is really really horrendous.

Tried it out again today to attend their zoom call. Their folks never take our questions and answer them - Have proof of all submitted questions. They say you are pre-approved and by the time you are e-signing the docs in about 20 minutes, you get email indicated you are waitlisted - This is complete BS and waste of people's time. They have no mechanism of controlling or notifying the interested subscribers. It's a matter of time other competing crowd sourcing platforms come to play to stop the hegemony of such horrible investing platforms

Update : Few weeks after I posted the above review, two of the crowdstreet's executives including customer executive had a long hour meeting to discuss the above feedback. I was told they would look into this and revert back but no one ever did. I was also surprised to learn that they themselves did not know that non-business (personal Trusts or anyone) can't initiate ACH transactions through any financial institution - which is exactly what I mentioned above. In terms of the bidding process, they were going to do changes to streamline this as well.

Update : 4th July, 2021
While I have recently read about the new streamlined process of ensuring oversubscription is handled appropriately, I have yet to try out the new system. I asked them about ACH support and yet again disappointed, they still do not support this and ask investors to either wire funds (which cost $35-$40 for any domestic outgoing wire) or initiate ACH transaction (please remember you can only this IF YOU HAVE A BUSINESS ACCOUNT - without which THIS is not possible at all - no matter who says what). All other competing sites - realty mogul, upside avenue, equity multiple, fundrise (More like a REIT) and many others DOES NOT HAVE THIS PROBLEM. They merely take your bank name and automate the ACH transaction directly from the receiving investment party (rather than you - the sender having to initiate this). Very disappointed that crowdstreet continues to NOT SUPPORT this very basic mechanism for funding money.

"Avoid CrowdStreet"

In my experience, CrowdStreet oversells their due diligence effort/support and expected returns and then under delivers on both.

If an investment goes south, they then basically don't provide any support whatsoever and basically say "you are on your own, we are just a platform." After making 8 diversified investments (1 medical, 2 apartments, 3 hotels, 2 assisted living), 2 are performing according to plan, 2 are under construction, and 4 are underperforming, with 1 of these being a complete write-off

Based on my experience, you are much better investing with FundRise, Realty Mogul, Realty Shares, Peer Street, or more traditional REITs than CrowdStreet.

"Poor communication and lack of transparency"

They have poor customer service. For every query you have to wait 12-24 hrs to get a reply via email. No phone desk to talk to them.

Lately they have too many customers to invest. They seem to have used this to their advantage to minimize their transparency in the selection process on who can invest.

They lack clear communication. They send email that you are pre-approved and upload driver license so they can send funding instructions. As soon you upload license they send email you are waitlisted.

No transparency in what is your turn on waitlisted queue.

"CrowdStreet is Terrific!"

This is a great way to invest in Commercial Real Estate. They care about their members and organize all of my investments for me. I'm very satisfied with this service.

"I have run into repeated issues with offers"

I have run into repeated issues trying to submit an offer using my SDIRA account. Despite having two funded investments using this account with CrowdStreet, they freeze my ability to make the offer because they are lacking account information. Rather than contact me outside a deal offering window to get the needed info, they essentially blocked me from getting into popular offerings. It’s very poor customer service despite having several hundred thousand dollars invested.

"CrowdStreet is the best in class for…"

CrowdStreet is the best in class for online CRE investing.
Good deal flow. Variety for risk and return options.

"Great way to passively invest"

Great education on commercial real estate and informative webinars. I have been investing on the platform for over four years. There seems to be a good amount of deal flow with great variety. I especially like the funds that are offered by CrowdStreet. Great way to passively invest in the commercial real estate world.

"Great platform"

Great platform. Very professional.

"LP's need to have chance to collect and ensure geuine transparency."

The selling part of the site is amazing, very clear and helfpul. The follow up is a bit looser and the forum for sharing issues is a bit toothless. Many sponsors fail quite considerably in the plan and there is - at present - not a great way for LPs to communicate with each other about this to raise issues with sponsor.

There should be a LP rating system (LPs ONLY, not CS) to rate them, Not one deal I have done has come anywhere NEAR the pro forma.