Confidence, is the component that collective funding institutions (IFC), or crowdfundingseek to consolidate their model, because otherwise they would run the risk of not being able to build an ecosystem where all participants win in sectors that, with technology, have been opened up to more people, such as the market real estate.
During the Technology Applied to Real Estate Financing and Investment table, within the Financial Innovation forum, participants of the crowdfunding real estate They agreed that, although this model has the potential to include more people and support more developers, currently the challenge is to build trust and consolidate the relationships that have been established with institutional investors.
“If we start failing investors, the whole model is put at risk going forward,” said Simon Dalgleish, CEO of the platform. crowdfunding real estate M2 Crowd, which in its history has funded more than 350 million pesos for different projects, from its investor base.
The collective funding real estate It is based on connecting investors with developers for the construction of spaces. Currently, the business has focused on housing construction; however, there are beginning to be initiatives, as is the case with Briq.mx, to support other types of real estate such as shopping centers or industrial buildings.
“We are giving access to people who wanted to participate and there is an appetite from investors to join in financing the projects, in such a way that with very little spending on marketingwe have been growing,” explained Alberto Padilla, general director of Briq.mx, a firm that has funded more than 1,000 million pesos to support 85 projects.
Lobby regulation
Crowdfunding platforms are considered within the law to Regulate Financial Technology Institutions, known as the fintech law, and crowdfunding real estate they are no exception.
In this sense, a few months ago M2 Crowd became the first platform for crowdfunding real estate to be authorized to operate under this regulation; while Briq.mx is waiting to receive its authorization through the National Banking and Securities Commission (CNBV).
However, despite the fact that the regulation provides certainty to the users of this type of platform, both investors and developers, for the participants there are still pending changes that need to be modified in order to trigger this business model.
An example of this is the issue of limits, since the law indicates that, for each promotion of the project, it should not receive more than the equivalent of 1 million 670,000 udis, that is, a little more than 12 million pesos and the accredited, in all its promotions, it will not be able to receive more than 6 million 700,000 udis, which is equivalent to about 50 million pesos.
“That is a limitation by law so far, but we are lobbying for this to change. M2Crowd’s particular policy is that we cannot deliver more than 60% of the entire project,” Dalgleish said.
More funding
During his speech Alberto Padilla, director of Briq.mx, commented that currently in its model based on debt and co-ownership of the projects, it has managed to attract the attention of professional investors, which is a sign of where the market can point to support for more complex projects with a greater need for funding.
“The future of funding will not only be institutional, but we will be able to bring the public closer to this model, which is the true owner of the resources to disintermediate (SIC) all the value chains that exist in the financing of projects real estatePadilla stressed.
Currently, some crowdfunding platforms real estatesuch as M2 Crowd, have focused on supporting projects in the center of the country, but others, such as Briq.mx, have also sought cross-border developments.
In this context, both specialists indicated that a greater opening to other areas of the country and other segments where funding is required within the subject is necessary. real estate. “We have a lot of interest and we have evaluated projects in tourist areas, such as Mérida, Riviera Maya, areas on the Pacific, Gulf, and Caribbean coasts, but in the end we want to secure part of the demand.”