It’s been three years since Jamison Manwaring and John Kobierowski decided it was the perfect time to try something new in the world of multifamily investment and redevelopment. The pair founded Neighborhood Ventures, which utilizes “crowdfunding” to raise capital for redevelopment projects. The three-year anniversary of the company’s founding comes in a year in which Neighborhood Ventures is working on its fourth and largest project and has seen its vision embraced by 478 individual investors.
“To get a person to write a check for an investment where they could lose it all, to get almost 500 of those, is no small task,” said Manwaring, whose career started as a technology analyst for Goldman Sachs before he served as Vice President of investor relations for LifeLock. “We’ve learned a lot about talking to investors, communicating, keeping them informed and involved. Our investors are really happy. They are engaged with us, which is the most important thing to me.”
Neighborhood Ventures’ investor pool isn’t drawn from the list of Arizona’s most wealthy residents. Investors in the company can put down a minimum of $1,000 and the average investment across all four projects is just over $5,300.