FundriseReviews of fundrise.com

I have to scoff at the reviews stating how transparent Fundrise is. They claim that, paraphrasing, their platform is BEST for those with at least a 5-year timeline. It does NOT state that it is ONLY for those who can invest for at least 5 years. Nowhere before you invest does it tell you that they "process requests" to sell your shares ONLY four times a year (once a quarter). Yes, if you would like to sell your shares on October 2, 2022, that request will not be processed until, at the EARLIEST, January 2023. That is hilariously ridiculous. There is absolutely nobody you can speak with regarding whatever issues may arise. You must send an email - and then, and ONLY then, will you receive a notification stating that they can freeze your assets if they wish, that they can deny your request to sell your shares, and that, quote, " We typically review liquidation requests for the majority of our funds on a quarterly basis (ex: early January, April, July, October) and at the end of the month following a 60-day waiting period for the Fundrise eFund." Why wouldn't this exact information be readily available to you prior investing? Makes you wonder, does it not? Also, quote, "the shares you own are INTENDED to be held long term". Sure, and life happens. Do understand that you ARE subject to being penalized on a scaled basis (up to 3%) for requesting to sell your shares before this 5 year term ends. They are NOT up front with these details before you invest your money. If you are able to literally PARK money for at least 5 years, then this might be a *decent* option to explore (the non-existent customer service, ability to arbitrarily freeze assets, and 4-6 month time period that must elapse before they "review" your request notwithstanding). If you would like to be able to move YOUR money around as you see fit whenever the need arises, avoid at all costs. No, I would not recommend to any family, friend, or - okay, foes? Sure.

Fundrise is the most disappointing entity I have ever invested in. Once I realized my mistake in investing in them, I requested the closing of my account and monetary return of what was left in it. It’s is UNBELIEVABLE that, even though this is the beginning of October 2022, they responded that funds would be reviewed for return in January, 2023…giving them plenty of time to siphon off more of my money. What a scam! They need to be shut down and I, for one, am going to report them for failure to disclose this integral fact in any substantial, obvious way to potential investors.

I have been an "investor" with Fundrise for over five years. Despite having an account balance that reflects fairly impressive returns, I am not allowed to cash in on my investments. Further, there does not seem to be a mechanism in the foreseeable future where they would allow me access to the money they assure me is doing well. Perhaps they will have my money send me a Christmas card so that I know it is continuing to do so. Maybe, if I promise not to take it and run, they could arrange an in person visit for me to sit with my money for a few hours one day. This is a ponzi scheme without the benefit of the periodic cash payments Bernie Madoff at least had the decency to send his victims. Do not give these guys your money. All you will get in return is a shiny new account screen that shows you are making money they will never allow you to touch. There is no option to cash out. You can search your dashboard all day, you will not find it. You have to go to the FAQ section before you will even see the topic breached. There, it will explain that while you may submit a request for withdrawal, it is subject to their review, and that many of their "products" are simply not eligible for redemption. --An investment product, not eligible for redemption -- Let that sink in. Took me a minute as well. Their review process only takes place three times a year, where they will diliberate and debate which of your investments they believe you are entitled to. Further, they impose a stiff penalty should you follow through and try to withdraw what is allegedly your money. They claim this penalty is only 5%, but that is a lie. It is compounded per "product", and they have a habit of restructuring your original investments into multiple products as previous products mature or are split and combined with other projects. I have been with them for over 5 years. I am beyond any grace period that an early withdrawal fee should apply to. My account screen shows absolutely stellar returns. However, if I were to withdraw my money today (July) it would be October before they even considered allowing me the privilege of access to my own money, and I would only be eligible for a little over half of what my balance says which is considerably less than my original investment. And this is during the best of times in a historically vibrant real estate market. One can only imagine how stingy they'd become in a bad market. They would probably envision a world in which I owed them money. I was taught eREITs were supposed to be more liquid than actual real estate, this one however seems to be completely illiquid. I would have been better off buying a condemned property 5 years ago and setting it on fire. At least then I could have still sold it to blackrock at my leisure, and the returns would have probably been better. I would sooner play three card monty with the local crack cocaine or heroin enthusiast than send these criminals another dime. I shall be setting a Google alert for class action lawsuits against Fundrise, with the hopes of joining in on any that happen to be filed.

TERRIBLE EXPERIENCE! DONT fund an account with a debit card or it will be a while you get your money back if you cancel. Customer service was great but it's not looking out for the consumer.

We are real estate investors and have a portfolio of several funds. This gives us a good perspective on fund operations, customer service and communication across the crowd-funding spectrum. We invested in the income fund- returns have been good. Unfortunately, investment performance is over-shadowed by an extremely poor client interface and non-existent customer service involving minor changes to our account that were simple to execute with all the other funds we use. There was no single contact person for communications and absolutely zero follw-up by phone, text or email. This amateurish, incompetent client support leads us to recommend not making an investment with this firm. It's like playing "hide and seek" getting material information and no point of contact to accomplish simple tasks to completion. Complete waste of time and the byzantine bureaucracy of their back office procedures seems more important than servicing clients.

After 3 years of poor returns far below Fundrise's advertised claims, I requested to withdraw. They don't even process withdraw requests for three months. Only today I received the funds with a five percent penalty, incurring a net loss of more than $1,000 over the past three years while real estate prices have skyrocketed. This was advertised as a slow and steady investment to get high single-digit returns with low risk. It is not. Almost any other mainstream investment would have been better. Steer clear.

After 18 months my returns are about 3.5% on a 10,000 diversified investment. The 5% hit is going to suck, but the returns suck more.

All my investments project 8-11% returns, but after almost a year I was getting .1%. Now they are going to take 5% of my original investment to pull out. You can get more in a savings acct. I don't understand how it is rated so high.