For example, Hammond Equities has recently implemented an investor portal to our onboarding process. This is a great tool I think every sponsor should consider using if not already. Investors can create a profile that allows them to have their own dashboard to track cashflow distributions, download K-1 statements, and stay up to date on projects. It’s just like every other investment they have ever made (sarcasm injected). I admit that it has taken me a while to realize the lesson my early mentor was pointing out. Since then, I have taken this issue very seriously in order to create a much easier pro- cess for our investor base. As an industry, it should be a shared goal to democratize real estate ownership. We can’t accomplish this goal without the implementation of technology, like an investor platform for example. There are several great platforms that can create a streamlined on-boarding process for you and your investors. As a rule of thumb, here are some tips when choosing a platform for you and your invest- ment firm: 1 Keep the investor in mind first. Look at the investor portal from the user experience. 2 Demand mobile-friendly interface. If you want to be relevant in 2021 and beyond, make it easy for people to complete the whole investment process via mobile. 3 Eliminate unnecessary steps or “opt-ins.” A portal can help eliminate inefficiencies. 4 Find one that is customizable so you can add in your brand logo and/or colors. 5 Think long term when picking a software. If you are serious about growing your real estate business and plan to on-board hundreds if not thousands of investors in the future, keep in mind the scalability features of whichever platform you decide to use. • Ellis Hammond manages a private network of investors seeking passive investment opportunities in multifamily syndications across the United States. Ellis is passionate about the intersection of faith and capital and hosts a weekly podcast show, Kingdom REI, in order to educate and inspire other investors and entrepreneurs to see capital as a means for greater Kingdom influence. To learn how you can invest alongside Ellis and this community, visit EllisHammond.com.
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