Podcasts about tore steen

E116 Nada CityFunds, a new way to own real estate, w/ CEO Tore Steen on Fireside with a VC. Tore is the CEO of Nada which operates CityFunds. Nada helps homeowners and individual investors solve the challenge of accessing and investing in home equity by providing a platform for home equity investment without additional debt or monthly payments. Homeowners sell a home share in exchange for cash and investors may invest in a CityFund that owns home shares in many homes in a specific high growth city or invest in the entire basket of home shares across multiple cities. Tore previously cofounded CrowdStreet, the largest online real estate investment platform in the U.S. having raised and invested over $4.4bn primarily from accredited and retail investors, where he raised over $50m of VC funding and additional venture debt funding. Tore joined Nada first as a board member and now as CEO.   Links and Resources: Watch the full episode on YouTube: https://youtu.be/uvDWJvJMuzI. Find all episodes of Fireside with a VC on your favorite podcast platform: https://podcasters.spotify.com/pod/show/FiresideVC. Learn more about Nada and their CityFunds: https://www.nada.co/ https://www.cityfunds.com/ Follow on Tore on LinkedIn: https://www.linkedin.com/in/toresteen/ Contact Tore: tore@nada.co Follow Andrew Romans on LinkedIn: linkedin.com/in/romans/. Join our Newsletter to get our insights and curated content from the VC-startup ecosystem - Fireside with a VC: https://subscribe.7bc.vc. Learn more about 7BC Venture Capital here: https://7bc.vc/. Get Andrew's new book here: Masters of Raising Venture Capital: https://www.amazon.com//dp/B0DHH5M4TM/. Get Andrew's book on Corporate Venture Capital (CVC) here: Masters of Corporate Venture Capital: http://rb.gy/u46e9r.   Join the conversation, leave comments, and tell us what you think about these topics and this episode.

Some CrowdStreet investors are expressing disbelief, and rage, after learning that millions of dollars of their investment funds have gone missing! Investors pumped more than $60 million into two deals sponsored by Nightingale Properties on that platform, and Poof! The money has mysteriously disappeared!   Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.   As reported by Bisnow, Nightingale did a great job pitching the deals to CrowdStreet investors. One was Nightingale's purchase of the Atlanta Financial Center for $182 million, which represented a $78 million loss for the seller and instant equity for the buyers. The Real Deals reports that more than 650 investors clamored into that deal with $54 million. The other deal was the renovation of a Miami Beach office building that Nightingale already owned. It raised $9 million for that project.   Slick Marketings Pitch   Nightingale told investors that it has a stellar track record with more than 30 big deals that never lost money. And it enticed investors with what it described as a rare opportunity to invest in trophy-style real estate.   University marketing professor, Zhiyong Yang, invested 50K into Atlanta and told Bisnow that “they did a wonderful marketing job.” Investor, Mike Huber, says the news about the missing funds is mind-boggling. He has 150K in the project, and is now wondering, like other investors, how this could have happened.   Red Flags   Their worries began last August thanks to a Wall Street Journal article. The Journal reported that Nightingale had failed to tell investors about two previous deals that lost money, which would have tarnished the sterling reputation that Nightingale was selling.   Potential investor Ian Ippolito told Bisnow that he was initially interested and was partially sold on the pitch that Nightingale had never lost money. But then Ippolito, who writes a blog called The Real Estate Crowdfunding Review, decided to investigate further, and found that Nightingale's track record is not so sterling – that it had lost money in those two deals. He thought to himself: “There's something shady going on here. I'm not going near this deal.”   What Went Wrong?   Although CrowdStreet is just a platform, there are questions about where it went wrong in vetting Nightingale, and why it didn't do more to safeguard investor funds, which it collected. If you're not familiar with CrowdStreet, it attracts all kinds of independent real estate investors, from all walks of life. It was founded in 2014 but really took off during the pandemic, raising $1.2 billion from retail investors in 2021 alone.   CrowdStreet's CEO, Tore Steen, told Bisnow that he is “shocked and angered” by the Nightingale fiasco. He says: “This is not a crowdfunding issue. This was simple illegal behavior by a real estate developer. There were investors outside of the CrowdStreet platform that were involved here. Whether it's online or offline, fraud exists in this industry.”   Although Steen doesn't believe that the platform exposed investors to a higher risk of fraud, investors want to know why CrowdStreet handed the funds over to Nightingale instead of putting them into escrow.    Investors Blindsided   One investor told Bisnow: “It's surprising that CrowdStreet was not taking a more guardian role when the Wall Street Journal article came out.” The article did prompt some investors to ask for refunds, especially as the deals experienced more delays in closing. And some did get refunds, along with plenty of positive sounding communication from Nightingale, including Christmas cards.   One investor on the West Coast says: “They gave us the option to withdraw the funds. That gave me comfort. They do all those things to make you feel that they are super-legit. I was entirely blindsided.”   Nightingale ended up processing about $9 million in refunds, but Bisnow reports that the refund process wasn't consistent. CrowdStreet became concerned at that point, and requested bank statements and operating agreements for the two deals. Instead of producing those documents, Nightingale started communicating with CrowdStreet through an attorney, and CrowdStreet recommended that shareholders take on an independent manager for these two deals.   With a background in forensic accounting, former Cousins Properties executive, Anna Phillips, was chosen for that position. She told investors that it's not clear what Nightingale did with the funds but she did immediately see some irregularities, such as the transfer of $12 million into an account owned by Nightingale's CEO, Elie Schwartz, instead of an account managed by the company.  But even that policy is being questioned because investors thought that because the deals hadn't closed, the money would have gone into escrow.    Escrow for Unclosed Deals   CEO Steen said in a statement that: “Establishing an escrow process was one of many components of our transition to the broker model and something we have been working on for many months.” CrowdStreet has since incorporated an escrow process into its funding deals.   As to questions about the vetting of Nightingale, Bisnow reports that CrowdStreet had done a background check and received more than a half dozen references from well-known institutions like Citibank. These problems could be attributed to growing pains for CrowdStreet, but it is also a failure in due diligence by investors.   Accidents Waiting to Happen   According to investor Ippolito, some crowdfunding deals are “accidents waiting to happen,” which you could probably say about any kind of investment and that investors need to do more of their own research on sponsors. He says you wouldn't go to buy a car and trust everything the salesperson is going to tell you.    Investor Chris Honcik of Idaho told Bisnow: “I'm a little bit angry at CrowdStreet at not having vetted this a little bit better. I don't think I should be the person vetting Nightingale. But in the end, it all comes down to me. It's kind of my fault.”   At this point, almost all of the money is still missing and both Nightingale and CEO Schwartz have been accused of misappropriating funds. Phillips is hoping to track it down. She put both deals into Chapter 11 bankruptcy because the reorganization process will help her find out what happened.   Who's Responsible?   In the meantime, investors are taking it on the nose, not knowing if or when they'll get a refund, and CrowdStreet will continue to do damage control. CEO Steen said in an interview with Bisnow: “I really don't believe it has anything to do with the fact that it's crowdfunding. It has to do with the type of individual that chose to blatantly disregard the law and ethical behavior, and in this case, fiduciary responsibility.”    Here's my thoughts. Regardless of who's to blame, the funds are missing and may not be recovered. How can investors avoid this type of catastrophe in the future? 1. Verify and then trust. Yes, this is a twist to trust and then verify. Just because the deal was on a large crowdfunding platform like Crowdstreet does not mean the operators could be blindly trusted. Many real estate crowdfunding sites are just platforms for developers and syndicators to post their deals. Crowdstreet may or may not have performed due diligence, and it doesn't matter. If you are investing a few thousand dollars into a deal, maybe you don't need to research it fully as you can may be afford to lose the money. But if you are investing tens of thousands or even hundreds of thousands of dollars, you absolutely must vet the sponsor and the deal. This is why only accredited investors are allowed to invest in these kinds of opportunities - because they can afford to have a CPA, attorney and underwriter review the documents and pro-forma. Someone on your team needs to understand the deal when investing that much money.  2. All investments have inherent risk. That's why they are investments, and not guaranteed. That is why you should diversify and not put too much money in any one deal. Even a well-underwritten deal can go sideways when there are challenges like a global pandemic that shut down the economy and caused supply chain issues, or interest rates tripling in a year. 3. Finally, make sure you know exactly where your money is going. Escrow accounts protect your money - at least in the sense that the escrow company will ensure that the funds go to the closing table.   You can find out more about how to invest responsibly as a RealWealth member. It's free to join, and takes just a few minutes. Keep up with important real estate news at newsforinvestors.com, and please remember to subscribe to this podcast to get new episodes automatically delivered to your phone!    Thanks for listening! Kathy Fettke   Links:   1 - https://www.bisnow.com/national/news/capital-markets/crowdstreet-investors-say-accusations-about-nightingale-mind-boggling-as-they-face-a-possible-total-loss-119896   2 - https://therealdeal.com/national/2023/07/14/fiduciary-to-investors-funds-in-nightingale-projects-misappropriated/   3 - https://www.bisnow.com/new-york/news/capital-markets/nightingale-properties-crowdstreet-scandal-illegal-behavior-119884?utm_source=outbound_pub_58&utm_campaign=outbound_issue_69142&utm_content=link&utm_medium=email

Tore Steen interviewed by Tony Shap

CrowdStreet CEO and co-founder Tore Steen discusses various aspects of crowdfunding with Kim Lisa Taylor, including:How sponsors get their deals posted on CrowdStreet's platform, and the due diligence processWhat type of experience CrowdStreet looks for in a sponsor How long it typically takes to get documents posted and funds raised What portion of the raise CrowdStreet typically wants to doWhat deal parameters CrowdStreet looks for in specified offerings (minimum investment amounts, annualized returns, overall IRRs, duration of investment)Contact: emailSyndication Attorneys WebsiteInvestor Marketing Materials

Da en mann i 30-årene ble lagt inn på sykehus og fikk påvist at han hadde blitt smittet av legionella, startet jakten på smittekilden. Etter ikke å ha gjort noen funn på de vanlige stedene, ledet denne gangen jakten, overraskende nok, til fontenen på Youngstorget. Vi snakker med bydelsoverlege i Grorud, Tore Steen, som er en av forfatterne bak en artikkel om dette.Artikkelen «Legionellose etter smitte fra fontenen på Youngstorget» er skrevet av Tore Wælgaard Steen, Åse Ruth Eggemoen, Marte Andersen, Tove Christiansen, Fredrik Eika, Ingunn Haakerud og Knut Henrik Spæren. Den kan leses her: https://tidsskriftet.no/2021/06/kort-kasuistikk/legionellose-etter-smitte-fra-fontenen-pa-youngstorget Tilbakemeldinger kan sendes til stetoskopet@tidsskriftet.no.         Stetoskopet produseres av Irene Rønold, Are Brean og Julie Didriksen ved Tidsskrift for Den norske legeforening. Ansvarlig redaktør er Are Brean.         Lydtekniker: Håkon Braaten / Moderne Media Coverillustrasjon: Stephen Lee Artikkel nevnt: - Legionella i Trondheim – smitteoppsporing og miljøkartlegging

As states begin to open up and main street slowly comes back to life, real estate investors are evaluating next steps on their current holdings while embarking on new opportunities.  In this episode we chat with Tore Steen the CEO of CrowdStreet, the leading commercial real estate investment platform for individuals seeking access to the asset class.  Tore shares his thoughts on real estate marketplaces as well as CrowdStreet’s story.  We hear about how the company came to be, how they have been impacted by COVID-19 and where they’re headed. I am your host RJ Lumba, Managing Partner of GrowthCap.  We hope you enjoy the show.

Thanks to advancements in technology, investing has become easier and more accessible than ever. In this episode, we sit down with Tore Steen at Crowdstreet to discuss their commercial real estate investment portal. Along with making this type of investment more accessible, their portal is integrated with DocuSign and Verify Investor, and is meant to streamline the entire workflow for investors. Tore is the CEO and Co-founder of CrowdStreet, previously leading marketing & sales efforts at Janrain, WebTrends and EarthLink. He discusses how the company has focused on direct to consumer marketing and is now switching to marketing to financial advisors.

Tore Steen is the CEO of Crowdstreet, a commercial real estate technology and services company that provides direct access to specific real estate investment opportunities. Steen is a business leader in the internet and software industries with deep expertise in strategy, business development, sales, and marketing for both publicly traded and private enterprises. Prior to CrowdStreet, Tore was instrumental in leading the product, sales, marketing, and business development efforts for Janrain, taking them from early stage rapid growth phases to becoming the recognized leader in the social identity space with a full user management platform and global enterprise customers. He has held senior leadership roles as the Vice President of Business and Corporate Development at WebTrends and Director of Business Development at EarthLink. https://www.crowdstreet.com/ https://www.facebook.com/CrowdSt https://www.linkedin.com/company/crowdstreet-inc-/ Leave a review for Monumental on iTunes: www.bit.ly/eholladay Subscribe to the podcast and emails from Evan: www.evanholladay.com Follow Evan on Instagram: www.instagram.com/evanholladay Follow Evan on Facebook: www.facebook.com/EvanHolladay Follow Evan on Twitter: www.twitter.com/EvanHolladay Contact Evan: www.evanholladay.com Interested in passively investing in cashflowing multifamily real estate? Fill out the investor form at www.holladayventures.com and join our Monumental Investing Club. If you are looking to get into your first multifamily investment property but feel like you need help, then go to www.coachwithevan.com and let’s hop on a call and see how I can best help you achieve you big multifamily goals!

Plenty of people have heard about crowdfunding sites such as Kickstarter and Indiegogo, which make it easy for fans to back f creative and technology projects, among others. And more recently, we’ve seen companies tap the SEC’s newer Regulation A process to sell shares of stock to, particularly, fans of smaller ventures that aren't yet on the major stock exchanges. CrowdStreet uses some of the familiar crowdfunding tools and approaches, but targets a much higher level of backers, namely so-called "accredited investors" who might want a piece of one of the biggest asset classes out there, commercial real estate. I sat down with CrowdStreet CEO Tore C. Steen to talk about how the six-year-old company is using an online process and crowdfunding to streamline and open up investing in commercial real estate. The segue from KickStarter to CrowdStreet isn’t an obvious one, but the opportunities are just as big, the beneficiaries just as unexpected. Give it a listen. --- Support this podcast: https://anchor.fm/davidlbloom/support

Sometimes is all starts with a mission. "At CrowdStreet we believe that markets are stronger when they are accessible, transparent, and efficient." That's straight from the CrowdStreet website. In this interview, you'll hear how Tore Steen, Co-Founder and CEO of CrowdStreet, is working to help investors and sponsors across the country connect and invest in commercial real estate. CrowdStreet was recently voted "best crowdfunding and capital sourcing" by CREtech. Tore and I got to discuss quite a lot during this interview including commercial real estate investing vs. the stock market, opportunity zones, and the three different ways you can invest in a wide variety of commercial real estate through the CrowdStreet platform.

Commercial real estate is a $15-trillion market, the third largest asset class behind stocks and bonds, and the largest alternative asset category. Yet traditionally, opportunities for individual retail investors to invest in specific commercial real estate (CRE) projects have been limited. It’s been largely dependent on a retail investor knowing a real estate developer or The post Real Estate Crowdfunding via CrowdStreet with Tore Steen appeared first on Fintech Daily.

  My guest in this episode is Tore Steen. Tore is a business leader in the internet and software industries with deep expertise in strategy, business development, sales, and marketing for both publicly traded and private enterprises. Prior to CrowdStreet, Tore was instrumental in leading the product, sales, marketing, and business development efforts for Janrain, taking them from early stage rapid growth phases to becoming the recognized leader in the social identity space with a full user management platform and global enterprise customers. He has held senior leadership roles as the Vice President of Business and Corporate Development at WebTrends and Director of Business Development at EarthLink. Tore earned a Master of Business Administration from Duke University and a Bachelor of Arts in political science from the University of Notre Dame. Interview Links: Crowd Street If you have enjoyed our podcast, please share with friends and family Please Subscribe, Rate, and Review on Itunes so more people can find us! so more people can find us! Please Support Us by Becoming A Patron on Patreon Open Your Goldmoney Account & Get A 5% Bonus Support Our Sponsors Joint Ops Properties, have designed a system to take any beginner to an experienced deal making investor in the least amount of time, offering opportunities from basic education, coaching, bridge investing to turn-key investments in the cash flowing market of St. Louis, MO. www.jointopsproperties.com Spartan Invest, helps investors create passive income and wealth through turnkey ownership in Birmingham Alabama. www.spartaninvest.com Norada Real Estate helps take the guesswork out of real estate investing.  By researching top real estate growth markets and structuring complete turnkey real estate investments, we help you succeed by minimizing risk and maximizing profitability. www.noradarealestate.com Valhalla Wealth Financial, reclaim the banking function within your own life with the premier strategies of the Wealthy. www.valhallawealth.com Audible, download any audio book for FREE when you try Audible for 30 days www.cashflowninjabook.com Thanks so much for joining me again. Have some feedback you’d like to share? Leave a note in the comment section below! If you enjoyed this episode, please share it using the social media buttons you see at the bottom of the post! Also, please leave an honest review for the Cashflow Ninja Podcast on iTunes. Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show, and I read each and every one of them. And finally, don’t forget to subscribe to the show on iTunes to get automatic updates, please follow me on twitter @mclaubscher and Instagram, @cashflowninjapodcast. Until next time! Live a life of passion and purpose on YOUR terms, M.C. Laubscher

Tore Steen is the CEO and Co-founder of CrowdStreet which is a crowdsourcing platform connecting investors with Main Street investment real estate opportunities. Tore is a business leader in the internet and software industries with deep expertise in strategy, business development, sales, and marketing for both publicly traded and private enterprises. With commercial real estate being the third-biggest asset class in the U.S. Tore will share how CrowdStreet is empowering individual investors by democratizing investment real estate. Tore will talk about technology solutions that provide real estate sponsors with a scalable platform for managing a large investor base. You'll also learn about the potential yields and the opportunities available to non-accredited investors.   Links: Crowdstreet.com @CrowdStreet @toresteen Where are we: Catalonia Spain - Sam & Johnny Portland, Oregon - Tore   Book: Start Here – Recommended reading   Time Stamps: 02:49 - Beginning of CrowdStreet 06:07 - The leadership team experience 08:36 - Defining commercial real estate 10:07 - Grading the quality of property 11:09 - Terms to familiarize with 14:09 - Demographic trends in the USA 16:57 - Investors circle learning platform 18:29 - Asset profile explanation 23:07 - Average member investment 25:20 - Software solution for developers 28:27 - The vetting process 32:54 - Average returns across the platform 36:09 - Nonaccredited opportunity 40:59 - Passive returns on investment 43:46 - High risk vs. safe ROI 46:21 - Biggest investment mistakes 55:09 - Nonaccredited investors   If you enjoyed this episode, do us a favor and share it! Also if you haven’t’ already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here!   Copyright 2017. All rights reserved. Read our disclaimer here.    

Are you asking yourself questions like, “What should I be doing with my life and time?” If you take stock, discover your passion, focus your future efforts, and work hard, you’re sure to find a niche you’ll succeed in. Most people succeed best at the thing they have a passion for, but it takes more than passion and a vision to grow a successful company. There’s no substitute for hard work, especially in the beginning of a new venture, but if you do your homework and really prepare, you’ll be ahead of the game. As an entrepreneur, it can be difficult to step back once you’ve developed the habit of working long days to develop your business, and it’s all too easy to continue trying to do everything ourselves. If you can learn how to rely on the talents of others to help your company grow, it will help you both achieve success and a healthy work-life balance more quickly. Tune in for insights on work-life balance, putting in the hours, and pursuing your passions, with Tore Steen! In this episode, you will… Discover how to allow others to help you lead Learn how to prepare yourself for success while taking risks Understand that there’s no substitute for hard work Realize that open communication can help you and your company grow Be reminded that your passion will always shine through “The most effective leaders have a way to bring out the best in people.” – Steve Shallenberger CLICK TO TWEET SUBSCRIBE TO THE PODCAST EPISODE RESOURCES Becoming Your Best Website Becoming Your Best Podcast Becoming Your Best Blog Becoming Your Best iTunes 1033 Foundation of Utah Excellence by Thomas J. Peters and Robert H. Waterman, Jr. tsteen@gmail.com See acast.com/privacy for privacy and opt-out information.