Real estate investment platform PeerStreet announced on Monday it is updating its Automated Investing product functionality to make it even easier for investors to diversify on the funding portal. PeerStreet reported that it has lowered its minimum investment to just $100 for small balance reinvestments when using the Automated Investing feature. PeerStreet also revealed that the update expands the investment types available for Automated Investing to include Cash Offer Loans and 30-Day Notes, which have shorter-term note rates than the platform’s typical bridge loan investment options.
“Automated Investing is a popular feature among PeerStreet’s thousands of individual investors—well over half of all investments are made through Automated Investing. These changes further an important part of the PeerStreet ethos: to help investors diversify and maintain control of their portfolios. To prevent idle cash in PeerStreet accounts, customers can now automatically reinvest as little as $100 in new investment opportunities on the platform (the reinvestment minimum was previously $1,000). This better enables investors to quickly turn interest payments into active investments.”
PeerStreet then explained that in addition to this lowered reinvestment minimum, investors may now select Cash Offer Loans and 30-Day Notes for Automated Investing as well. Now all current investment types that are available on PeerStreet can be invested in through Automated Investing. While sharing more details about the update, Brett Crosby, co-founder and COO of PeerStreet, stated:
“We’ve answered the call from customers who have been asking for these Automated Investing features, which can help people diversify their portfolios with greater ease than ever before. These changes are designed to help more people get access to the investments they want.”
PeerStreet then added that the update comes on the heels of its announcement in March that it had over $2 billion transacted on the platform and $1 billion in assets under management, as well as a recent expansion into Residential for Rent loans.