Irvine startup Relli has developed an online platform to allow investments in real estate properties similar to a stock investment.
Founder and Chief Executive Mor Milo said he founded Relli last year to make investing in real estate more accessible to average consumers without them being an accredited investor.
“We’re building the stock market of real estate,” Milo told the Business Journal.
The platform will have a wide variety of properties to invest in, ranging from residential homes and short-term rentals to commercial properties such as warehouses and retail stores.
It is currently in beta and is expected to launch officially in fourth quarter of this year.
Relli is raising a $3 million seed round and has $1.25 million “committed” from a Newport Beach-based private equity fund, according to Milo. Relli also recently joined Octane’s launchpad accelerator, which said it has helped nearly 2,000 early-stage companies since its formation in 2010.
$100 Minimum
People can invest between $100 to $25,000 in Relli’s properties.
“Instead of having to invest $100,000 or $200,000 in one property, you can invest a fraction in 10 different projects that are happening all over the country,” Milo said.
They then earn a return on their investment either through rental income that’s paid quarterly or annual appreciation once the property is sold.
