I call it as I see I.
Does Crowdstreet have a clear vision?
I originally connected with Crowdstreet as a way to participate in Real Estate investments. I have largely held off investing because the early funds have not turned out to be managed as they were advertised, and as Crowdstreet grew rapidly, I became uneasy with the vetting process which Crowdsteet said was very tough and thorough. I think the pressure to bring deals to the table proved in numerous cases that this wasn't the case. I didn't really hear a "repentance" type of acknowledgement of this, especially while I am living with the consequences of these issues. What I heard is that Crowdstreet now has a rigorous vetting process. Well that is what I heard 5 years ago too. Also, I don't know that I fully understand or agree with Crowdstreet broadening out into other areas such as private debt, etc. There are plenty of full service investment advisory companies already. It appears that Crowdstreet now wants to become one too. It seems to me that Crowdstreet is wandering away from its original vision.
Response from Crowd StreetDec 4, 2024
Thank you for taking the time to share your detailed feedback. We understand your concerns, and we truly appreciate your candid perspective. We’re continually working to enhance our processes and address the lessons we’ve learned along the way. Member trust is paramount, and while our vetting process has evolved significantly over the years, we recognize that past experiences may not have met your expectations. Feedback like yours drives us to keep improving, and we’re committed to greater transparency and more robust due diligence in an effort to provide confidence in the opportunities we present. We also understand your questions about our expansion into other private markets. Our goal is to provide a diverse range of offerings to meet the evolving needs of our members. That said, we always strive to balance growth with the quality and integrity that you, and all our members, expect. We’d welcome the opportunity to discuss your experience further and hear more about your perspective. Please don’t hesitate to reach out to us at [email protected]. Your input is invaluable as we continue to refine our approach.