November 23, 2021

Senior Product Manager, Ben Brammer

Editor’s note: this post is part of an ongoing series highlighting some of our recent new-hires who are having an outsized impact on our business. We’re incredibly proud of the team we have and excited to introduce you to some of our new people and the work they do.

As a company, we’re excited about where we’ve been and even moreso about where we’re headed. So let us introduce you to some of our new leaders who will help shepherd us into the future. Oh and if you want to work with these impressive people, we're hiring!


What is your role at PeerStreet? 

Sr. Product Manager

What did you do prior to PeerStreet?

Prior to PeerStreet I worked at CoreLogic as a Sr. Product Manager in their appraisal software organization and was the Director of Product at WeGoLook.

What do you think makes PeerStreet unique?

The desire to democratize the real estate debt space. I think there are a lot of players currently tackling some of the broken pieces in the real estate transaction process (agents, title companies, inspection, appraisal, etc.) but I don’t know of many that are addressing some of the inequities caused by access, or lack thereof, to upstream capital and debt securities. 

What are your favorite parts of the PeerStreet culture summarized in three words?

Connected. Honest. Driven.

What is the most rewarding part of your job?

Solving problems. It’s why I’ve been attracted to the product space for most of my career. We are the front line for all sorts of issues that come up across the organization, so being able to work with team members to find creative solutions using technology and process improvement has been incredibly rewarding.

How do you spend your time when you are not at work?

Prowling the internet looking for the next real estate investment opportunity that I can’t afford and spending time with my wife and (almost) 2 year old daughter.

Define yourself in three words.

Dad, Okie, & OverCaffeinated.


Thanks Ben! If you’d like to join our team at PeerStreet, we’re hiring


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November 19, 2021

PeerStreet Announces Our New Originator Suite and Delivers Awards to Six Lenders at Annual Gathering

Last week, PeerStreet was thrilled to return to the annual American Association of Private Lenders (AAPL) Conference at Caesars Palace in Las Vegas. 


Not only did we sponsor the event, we had three speakers, a fully staffed booth, a party, an awards presentation and a new product announcement! Here are some of the highlights.

We had so much fun, we created this sizzle reel.


We announced an amazing new product suite:

Our CEO, Brew Johnson, and CTO, Oren Ben Shaul, were on stage to announce our new Originator Suite, which will include tools such as the loan scenario builder, loan application, document collection and others! 


Take a look at the video to see the full product announcement.

Our head of originator sales lended some major insight on the future of appraisals: 

Dan Wasson, our Vice President of Sales, sat on a panel which explored planning for & mitigating the appraisal squeeze. She presented tips on how to ensure you get the appraisal you need, even during this year of record-breaking origination volume.

At our lender party, we announced six awards:

Congratulations to Karzi Equities on another victory!

Lender of the Year: Karzi Equities

They’ve been an originator since 2016 and have our program down pat, with their fastest loan funding in just three days. This is the third year they’ve won this award.

Most Rental Loan Units: Trius Lending Partners

They took 830 days from the first time we met them until they on onboarded in 2018, since then, they’ve become a powerhouse in rental loans!


Most Rental Volume: Pimlico

They’ve been working with us since 2019. This year alone, we did over 100 more loans together than in their first two working with us.


Best Newcomer: LendingDeck

It took them only 30 days from when we first met to get them fully onboarded in December 2020. Together, we closed over 70 loans in their first 11 months. 

Best Partner: Budget

Joining in 2015, they were one of our first lenders ever onboarded. They more than doubled their volume since Covid and they are a crowd favorite amongst the teams that work with them due to their intimate knowledge of our systems, credit boxes, and lending as a whole. 


The Big Kahuna: Twin Cal

Onboarded in late 2020 and hitting home runs out of the gate, this year they closed our largest rental loan on a nearly $3M deal in Los Angeles.


And we went Back to the Future with our trade show booth and this fun sizzle reel looping on the TV.

We had a wonderful time connecting with everyone at APPL and are already thinking of ways to make it even better next year!



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November 18, 2021

PeerStreet once again listed among the fastest-growing companies in North America

For the third year in a row, PeerStreet is honored to be included on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. This comes on the heels of PeerStreet winning Crowdfunding Platform of the Year and being named one of the “2021 Best Places to Work in Financial Technology.” Our ranking is based on our 231% fiscal-year revenue growth over the previous three years.


This past year, demand to invest in loans on our platform has remained high and, despite universal decline in interest rates, returns for investors and our cumulative company earnings has continued to grow. In addition to this growth, we’ve had some exciting launches this year. We gave investors the opportunity to invest in multifamily properties, empowering originators, borrowers, and investors alike to capitalize on real estate and meet their financial goals. Additionally, we launched The E.N.U.F. Project in February. This charitable initiative is designed to invest in real estate entrepreneurs from underserved backgrounds who are committed to improving their communities and closing the wealth gap using the power of real estate. 


Over the next year, we’re hoping to transform the industry — from the inside out. And we’ve already created a strong foundation to do so. For investors, we’ve started increasing liquidity. We have always sought to make investing in real estate debt as easy as investing in the stock market, and our new Secondary Marketplace is an exciting step in that direction. For originators, we’re giving them a new suite of  tools to help scale their businesses. And as an overall brand, we’ve refreshed our company values to give us an even stronger platform for the future growth we’re anticipating. 


“Each year the Technology Fast 500 shines a light on leading innovators in technology and this year is no exception,” said Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader. “In the face of innumerable challenges resulting from the pandemic, the best and brightest were able to pivot, reinvent and transform and grow. We celebrate the winning organizations and especially the talented employees driving their success.”


“The pandemic has underscored the urgent need for tech solutions in a variety of areas across health care, fintech, energy tech, entertainment, to name a few, so reliance on innovators like the winners of the Technology Fast 500 is more important than ever,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s audit & assurance practice. “These companies are not only at the cutting edge, transforming the way we do business, but most importantly, recognize the strategic importance of ongoing innovation, especially in the ever-changing world of technology.” 


We’re honored to be included alongside a number of innovative companies and we want to thank our investors, originators, and partners for your continued support.


Want to learn more about PeerStreet? Check out our About page.


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November 17, 2021

PeerStreet’s company values set the stage for rapid growth

We’re honored to be covered in Built in LA as a company who holds our values at the forefront of everything we do. Our Co-Founder & CCO, Brett Crosby, met with the Built in LA team to discuss how these values inform our vision, and the impact that our philosophy has had on achieving our long-term company goals.


With over 3.8 million unique views, Built in LA is a fantastic recruiting service for us. They provide key visibility and credibility in the tech space. Built in LA has given us some awesome features over the years, too, including listing us as one of the top LA startups to watch in 2017 and 2018, and on its list of 23 El Segundo Tech Companies You Should Know.


At PeerStreet, culture is top of mind in everything we do. And as we live out our vision of making real estate financing work better for everyone, it’s important that we cultivate an energized and supportive workplace for our employees first. Alongside the amazing benefits of working from home, it comes with it’s own unique set of challenges. Reclaiming these updated values has become more important than ever to make sure our team is living out PeerStreet’s vision whether they’re in the conference room or at their kitchen table. From our weekly all-hands meetings where we talk about our latest initiatives, successes, and challenges, to our long list of perks and company-wide outings, we’re serious about having a blast while transforming our industry. 


We’re growing like crazy, but what we’ve built is just the beginning of what we can do. And upgraded company values will give us an even stronger platform for the future growth we’re anticipating. Take a look at our refreshed  values:

Our values

  • Customer value creation
  • Innovate and improve, constantly
  • Empower others
  • Bias for action
  • Candor, trust, and commitment
  • Deliver results
  • Insist on the highest standards
  • Own it
  • Have a blast


The impact of our values extends far beyond just company culture. They influence the way we engage with our customers and the communities we work with — whether that’s helping our customers create wealth and save time, or improving underserved communities from within and narrowing the wealth gap through our E.N.U.F. Project.

For more on PeerStreet, check out our homepage in Built in LA and see how we’re transforming the industry — from the inside out.

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November 16, 2021

The 5 best investments to generate monthly income

At PeerStreet, we want to give our accredited investors the opportunity to generate monthly income. Extra monthly income can be incredibly empowering — and put you on a path that’s more in-line with the life you envisioned for yourself. It can help you live a more fulfilling retirement, or even retire early. It can give you the boost you need to help fund your side hustle, or the freedom to ditch your day job and finally pursue your passion. Passive income can give you the resources to travel more often with friends and family. And it can even help you build wealth faster, creating a self-perpetuating cycle of wealth for future generations. 

Investing in the stock market can be a great option for people looking to build wealth over time. But where can you invest when you want to earn passive income every month that you can use immediately? Here are some of the best opportunities out there right now:


1. Real estate loans

Average yield: 6% - 12%

Investing in high-yield, short term real estate loans has the potential to give you some of the highest returns out there — better than bonds, savings, and other equities. Part of the reason is because real estate debt is backed by physical assets. So even in rare cases, when a borrower walks away from a property, the principal (plus, more) can be recouped and distributed to investors with the sale of the property. Plus, the real estate market operates independently from the stock market, so it’s a great diversification asset.

But, anytime you invest, there’s always risk involved. Because real estate debt relies on borrowers to make their payments, some may see this asset class as higher risk than others. While foreclosures can happen, at PeerStreet, it’s rare (of all the loans that paid off since June 30, 2020, 99.6% paid off for a gain). To mitigate the difference, we’ve created a Secondary Marketplace to allow our current investors to sell their positions in certain loans to institutional third-party investors. 

https://wellkeptwallet.com/investments-for-monthly-income/


2. Real estate investment trusts (REITs)

Average yield: 5% - 8%

Real estate investment trusts, or REITs, are known to be an advantageous investment opportunity. Generally speaking, you can buy interest in publicly-traded REITs just like you would stocks, making them a highly liquid asset since you can sell them off quickly. Because the SEC requires public REITs to pay out 90% of their dividends, they’re also higher-yield investments. 

But because public REITs tend to move in-line with the stock market, they can be volatile assets, limiting the potential to diversify your portfolio. And because only 10% of profits of public REITs is used for growth, share prices may not grow as quickly as other assets. That said, if you want to start investing in real estate, public REITs may be an easy first step.

https://www.millionacres.com/real-estate-investing/reits/high-yield-reits/


3. Rental properties

Average yield: 4% - 10%

If you think you’ve got the chops (and money on-hand) to fix-and-flip homes or become a landlord, you can earn solid passive income. Rental properties may increase your net worth over time as the properties you manage appreciate in value. Plus, rents generally adjust to inflation, so you most likely won’t have to worry about diminishing returns and your tenants can pay off your mortgages. 

However, despite high yields, returns on rental properties can fluctuate with the real estate market. Also, they require a certain skill set and are notoriously illiquid. You can combat risk by screening tenants, protecting yourself with rent default insurance, and ensuring you’re an effective property manager. If you have the knowledge, drive, and money, rental properties can be a profitable endeavor.

https://wellkeptwallet.com/investments-for-monthly-income/


4. Bonds

Average yield: 0.1% to 3.3%

Bonds are paper assets that represent loans made from investors to borrowers. Investing in corporate and government bonds are typically less volatile investments than stocks and are, therefore, low-risk. Because of this, many people nearing retirement find them to be a reliable investment. That said, they’re also low-return investments and have less growth potential than stocks. Bonds are one of the safest assets you can find when looking to earn monthly returns. 

https://wellkeptwallet.com/investments-for-monthly-income/


5. Certificates of deposit (CDs)

Average yield: 0.4% - 0.8%

Certificates of deposit (CDs) are traditionally considered very safe investments and can help supplement your monthly returns. While they’re not the option with the highest yields, CDs can earn investors more returns than savings accounts (and they’re FDIC-insured). 

When you invest, you can only withdraw your interest before the CD fully matures if you want to pay a penalty. CDs either give you access to monthly interest payments or let you receive the full return  at the end of the term. Most terms are at least 12 months, so if you want immediate access to cash, this might not be the best option for you.

https://wellkeptwallet.com/investments-for-monthly-income/

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Building a diversified portfolio is within your reach — and earning passive income is the easiest thing you can do to set yourself up for a comfortable future. At PeerStreet, we’ll give you the ability to generate passive income through monthly recurring payments. So you can take your portfolio to the next level.


PeerStreet is an intuitive technology platform for investing in real estate that provides high-quality real estate investments at your fingertips and makes the market work for you. Try PeerStreet today.

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November 10, 2021

Kicking off our E.N.U.F. program with the first cohort of real estate entrepreneurs

We’re introducing our first cohort of entrepreneurs for our Evolving Neighborhood Uplift Fund (E.N.U.F.) program. E.N.U.F. is a charitable initiative designed to invest in real estate entrepreneurs from underserved backgrounds who are committed to improving their communities and closing the wealth gap using the power of real estate. We launched E.N.U.F. in February of 2021 as a way to equip aspiring entrepreneurs with the tools and capital they need to invest in real estate projects and, in doing so, invest in their communities. Today, we’re announcing the first cohort of entrepreneurs to enter the program.

As part of the E.N.U.F. Mentorship program, the entrepreneurs will have access to mentors, education, and capital to build wealth and improve the neighborhoods and communities where they work and live. Entrepreneurs who have identified a property may apply to the E.N.U.F fund for seed capital in the form of an equity investment. Profits from the E.N.U.F. fund’s investment will be reinvested into the projects of future E.N.U.F. entrepreneurs. 

“Our goal is to teach entrepreneurs how to invest in real estate and raise capital in a repeatable way. We want them to use the E.N.U.F. project to learn the fundamentals of investing, and then go off and do it again and again,” said Brew Johnson, CEO of PeerStreet. “Everyone — the E.N.U.F. entrepreneurs, mentors, and the PeerStreet team — is rallied around the same idea that we can truly make a difference if we enable this cycle of wealth creation through real estate.” 

Introducing the first cohort of E.N.U.F. entrepreneurs


Charles Robinson

Born and raised in Florida, Charles purchased his first single family property in 2018 and has since purchased a triplex and building in downtown Durham, NC. His goal with E.N.U.F. is to grow his knowledge, expertise, and network in the commercial real estate, multifamily, and mixed-use development space so he can open more doors for Black developers, building wealth for their families and communities.


Kimberlee Williams

A New Jersey native, Kimberlee is a communications and marketing professional who is extremely passionate about ensuring that home ownership is within reach for Black and Brown residents. She hopes to use E.N.U.F. to create shared common area spaces and concepts to attract young talent and college grads to the Essex County area.

Evan Odeseye

Raised by a single mother in Staten Island, Evan still resides there today where he hosts events to give back to his community. From turkey drives and clothing drives to toy drives, he believes in investing back into the community and giving others the opportunities he didn't have growing up. He’s always dreamed of getting involved with real estate, and now, he’s ready to take these ambitions to the next level.

Alicia Jones

Alicia moved from her hometown of Detroit to attend Clark Atlanta University — and 30 years later, has remained in Atlanta ever since. She’s a real estate sales professional with over 20 years of sales, marketing, and luxury retail management experience, specializing in the Atlanta market. Inspired by the “Buy the Block” movement, she hopes to use E.N.U.F. to invest in underserved communities of greater Atlanta.

Ryan Jackson

A husband, father, Christian educator, and leader within his local church in Michigan, Ryan is a self-described real estate “newbie.” But his passion to get more involved in his community has led him to become active in local real estate meetups and complete two real estate projects so far. With E.N.U.F., he wants to invest in underserved neighborhoods in Kalamazoo, MI by providing adequate and quality housing for residents.



Entrepreneurs, community organizations, donors and investors interested in getting involved with the E.N.U.F. project can visit www.peerstreet.com/enuf for more information. To get involved, please reach out to us at [email protected].

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November 9, 2021

Great Scott! We're heading to AAPL

PeerStreet's packing a bag and hitting the road in our DeLorean. Destination… Las Vegas! 

PeerStreet's excited to once again be attending and exhibiting at the American Association of Private Lenders (AAPL) conference in Las Vegas. Happening November 14th-16th at Caesars Palace, AAPL boasts an attendee list of over 45 speakers and 500+ people from the industry. And PeerStreet will be front and center for the festivities. 

Hear it from Brew

Alongside networking and sessions, PeerStreet will be making some major product announcements and hosting an exclusive cocktail party. Oh, and did we mention our CEO, Brew Johnson, will also be speaking… Brew will be sharing industry-leading insights on how to leverage technology to 10x your origination business.

A panel discussion you won’t want to miss

In addition to Brew’s talk, Dana Wasson, our Vice President of Sales, will be speaking at a panel, planning for & mitigating the appraisal squeeze. She’ll be presenting tips on how originators can ensure they have the valuations they need — during the largest appraisal shortage of our generation.

Something big is coming from product

Our product team has been hard at work building innovative tools to help you originate smarter. Brew and our CTO, Oren Ben-Shaul, will unveil our latest product launch… and trust us, if you’re a lender or broker, this is one you don’t want to miss!

It’s party time!

And because we don’t believe in all work and no play, PeerStreet will be hosting our annual cocktail party, this time at the Kassi Beach House. Along with drinks and snacks, we’ll be announcing our annual year-end awards for our prestigious originators. Will you be the next award winner? Join us to find out.


The party starts at 8PM PT on Monday night. 

To register for AAPL, head over to their conference page

If you’re interested in attending our party, awards ceremony, or dinners, reach out to us here! And if you want to book a private meeting with one of our general managers, please schedule a time here


See you in Vegas!









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November 8, 2021

Everything you wanted to know about PeerStreet’s Multifamily Loans

As PeerStreet’s content marketing manager, I get the opportunity to work with lots of people across the organization. When I need to know something, I feel like I have a large swath of resources… subject matter experts from all walks of life... tech gurus, seasoned former brokers, even real estate investing virtuosos who have been working in the industry since before I learned to tie my shoes (full disclosure: velcro was clutch for me until at least the first grade).


So, when PeerStreet announced it was relaunching its Multifamily Loan Product, I knew I needed to track down one of these experts to tell me everything (okay not everything, but a lot) about the state of the multifamily market. 

Enter industry expert Tom Hallock.

A Zoom encounter worthy of a blog post


I had heard great things about Tom Hallock, PeerStreet’s Head of Loan Products, but hadn’t had the chance to connect with him until the multifamily relaunch surfaced. His resume is impressive to say the least — here’s his LI page so you can see for yourself — and if I’m being honest, I was a bit nervous about our call. 


Needless to say, about 30 seconds into our conversation my fears subsided. Not only is Tom a seasoned vet in the multifamily loan space, he’s also a genuinely nice guy (and his son is the first American to win the Champions League in Water Polo AND is a two-time Olympian for the USA!).


Tom explained trends in the larger market, PeerStreet’s decision to relaunch its multifamily product, and he even shared some interesting ways to view multifamily unit ownership. Here are some excerpts from our conversation —

Tom, as Head of Loan Products, what can you tell me about PeerStreet’s decision to relaunch a multifamily loan product? Was it driven by a larger market trend, or something internally?


Primarily, it was driven by our internal market trends and the types of business that our partners do, and want to do. 


We believe in a multifamily loan product offering, but in light of Covid, we wanted to make sure that we understood what the larger market was doing. And we wanted to see if the multifamily market was going to take a significant value hit. 


Once it became apparent that the multifamily market was going to continue to be a strong product offering — and we saw that investor appetite for real estate investing had rebounded strongly from the earlier stages of Covid — we decided to relaunch our Multifamily Bridge Loan Product, hiring Multifamily General Manager Jon Spelke to manage and run the program.

Is the relaunch any different from the original program?

It is somewhat different in the fact that we elected to bring out a bridge product first. We did this, in part, because there was a lot of demand from our retail investors.


We also took a hard look at the lessons we learned from our first iteration of multifamily offerings, deciding to focus on internal valuation, making sure that we really understood the business plan of the intended borrower for each multifamily loan PeerStreet decides to fund or purchase.


In many areas of the country, we saw a Covid-related exodus from cities into suburbs. Yet, according to CBRE, multifamily properties have “stood up to these economic shifts — better in fact than recessions past.”

So, how does this reconfiguration of where America lives (and rents) impact the multifamily market?


Multifamily is a really interesting market segment — one of the things we have to recognize is that there’s a severe housing shortage in our cities. So, even if cities like New York or San Francisco take a temporary hit, there’s still a big need for multifamily dwellings. 


And with the new work-from-home revolution, we’re seeing borrowers reconfigure spaces, upgrading to meet new tech demands, and shifting space layout requirements. 

 

The market will always morph and change, but I think those types of improvements — for example, carving out spaces for dwellers to use a little bit differently — make multifamily units attractive to renters and owners alike.


Thinking about multifamily dwellings (and loans) differently

Tom wrapped up our conversation by explaining a classic multifamily scenario...


Picture a small apartment building with the opportunity to service seasonal workers — landing somewhere in the middle of short term and long term — this is a place for doctors, nurses, teachers. Or, seasonal workers who support restaurants and resorts. This type of dwelling becomes especially viable when we start thinking of today's environment where people can work from anywhere. 


Want to see what life is like in a cute Colorado mountain town? Rent an apartment for a month and try it out...


The problem is the long-term finance market doesn’t like this type of arrangement. They want one-year leases, they want the security of long-term occupants. That’s where private lenders and alternative lending platforms like PeerStreet come into play. We give the market — originators and their borrowers — alternative and flexible options that are applicable to what’s happening right now.

At PeerStreet, we’re progressive, so we can adjust to what's happening around us


And that’s how Tom wrapped up our conversation, summarizing why we do what we do at PeerStreet.

Our goal


Our ultimate goal at PeerStreet is to help investors build wealth while helping property owners rebuild and rejuvenate homes and communities. By providing an accessible platform for originators to increase their loan volume, we can help real estate entrepreneurs reverse the decay of aging housing across the United States. PeerStreet’s Multifamily Bridge Loan Product was created to empower originators, borrowers, and investors to meet (and possibly exceed) their financial goals and needs. 

Want to learn more about PeerStreet’s Multifamily Loan Product? Originators can get started here, investors here. 


About the Author

Katie Knox is PeerStreet’s Content Marketing Manager. With over a decade of professional writing experience, she’s written everything from product descriptions and websites, to screenplays about killer robots. When she’s not creating all things content, she can be found picking up heavy things and putting them down again for fun. 



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November 2, 2021

Get More Liquidity With PeerStreet’s Secondary Marketplace

At PeerStreet, the #1 request from investors has been consistent: “If a loan goes into default, can I sell my interest in the loan?” Well now, on select loans, they can. With PeerStreet’s new Secondary Marketplace, investors will be notified if they have the opportunity to sell their position in loans — increasing flexibility and most importantly, liquidity. We have always sought to make investing in real estate debt as easy as investing in the stock market, and PeerStreet’s Secondary Marketplace is an exciting step in that direction. Our goal, with this launch, is to create an even better platform and further increase the availability of capital to our investors. 


What is the Secondary Marketplace?

PeerStreet’s Secondary Marketplace is a new feature that gives certain investors in PeerStreet loans the opportunity to trade out of their investments. Initially, this feature will only be limited to certain loans and the buyout offers will come from third parties. Eventually, we hope to make this available to all investors and investment types on our platform. Buyout offers allow investors to sell existing investments in loans before the term has been reached or the loan has been worked out. When investors sell their interest, they’re exiting the investment completely and will no longer be entitled to any payments. This means, investors can get liquidity before the loan has been paid back and can move on to investing in more loans. 


How it works

In PeerStreet’s Secondary Marketplace, if a third party is interested in purchasing an investor’s current interest in a loan, the third party will make an offer to purchase that investor’s interest in the loan and the investor will get an email alerting them of the option to sell. If they accept the offer, they’ll receive cash for the offer and will no longer own any portion of the loan. 


Keep in mind

  • Since only select loans will be eligible to participate in this, the investor will be notified via email if a loan they are investing in has a buyout offer
  • If the investor accepts the offer, the sale of their interest in the loan will close within three business days
  • All future payments or cash flows relating to their previous interest in the loan — including accrued but unpaid interest — will go to the new owner of the investment.


Make PeerStreet’s Secondary Marketplace work for you. 


*Disclaimer: there is no guarantee that all current or future loans will be included in the Secondary Marketplace program and/or receive any Buyout Offers from third-party purchasers. Investors on PeerStreet’s marketplace should not make investments on the assumption that there will later exist liquidity for their position. Investments in MPDNs generally remain illiquid. 


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October 4, 2021

General Manager, Single Family Investor Lending, Kip Adkins

Editor’s note: this post is part of an ongoing series highlighting some of our recent new-hires who are having an outsized impact on our business. We’re incredibly proud of the team we have and excited to introduce you to some of our new people and the work they do.

As a company, we’re excited about where we’ve been and even moreso about where we’re headed. So let us introduce you to some of our new leaders who will help shepherd us into the future. Oh and if you want to work with these impressive people, we're hiring!

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What is your role at PeerStreet?

General Manager, Single Family Investor Lending. I manage the existing products and hope to bring a fresh perspective to the company. My goal is to help improve processes and develop new products for real estate lenders, their clients and investors in the space.

What did you do prior to PeerStreet?

I have been in the real estate and mortgage banking industry for 26 years. I started my career on the back end of the business, handling REO (real estate owned) properties for mortgage servicers. I worked as an Asset Manager for Homecomings Financial (GMAC special servicing) and then moved to Ameriquest handling their REO portfolio as the REO Manager. While at Ameriquest I changed roles to VP of Loss Mitigation and led a department to handle short sales. My most recent role was as President of Aegis Funding, a private money lender and lending partner with PeerStreet. I hope that my experience lends itself well to my role here at PeerStreet.

What do you think makes PeerStreet unique?

 It’s the disrupter mentality and culture. I have been a part of many lending and mortgage servicing institutions where the typical culture is rigid and stuffy and new ideas are typically not welcomed. PeerStreet has a unique structure where everyone is accessible and new ideas are not only welcomed they are required. 

What are your favorite parts of the PeerStreet culture summarized in three words

Intelligent, driven, unwavering 

What is the most rewarding part of your job? 

Looking up from a day of hard work and seeing how my impact made a difference, generally it’s in the numbers! 

How do you spend your time when you are not at work? 

Spending time with my wife and three daughters doing outdoor activities. I love mountain sports such as hiking, mountain biking and snowboarding. In the winter of 2019/2020 I logged 29 days on the slopes and 100s of miles on my mountain bike. I also consider myself a fair weather surfer. 

Define yourself in three words. 

Observant, determined, and focused

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Thanks Kip! If you’d like to join Kip and our team at PeerStreet, we’re hiring


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September 20, 2021

General Manager, Multifamily, Jon Spelke

Editor's note: this post is part of an ongoing series  highlighting some of our recent new-hires who are having an outsized impact on our business. We’re incredibly proud of the team we have and excited to introduce you to some of our new people and the work they do.

As a company, we’re excited about where we’ve been and even moreso about where we’re headed. So let us introduce you to some of our new leaders who will help shepherd us into the future. Oh and if you want to work with these impressive people, we're hiring!

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What is your role at PeerStreet?

As the GM of multifamily my role is to manage the multifamily loan product program and grow the annual volume to better serve our customers on both side of the platform. I'm very happy to see it launch and am now focused on ironing out the details so we can ramp up volume for our lenders and investors.


What did you do prior to PeerStreet?

Prior to PeerStreet, I was with CleanFund, a CPACE real estate finance firm, managing their national originations and capital markets platforms. I have a background in asset and portfolio management, loan restructuring and work-outs, finance and development for multifamily, retail, office, mixed-use, industrial and hospitality assets.


What do you think makes PeerStreet unique?

Providing the marketplace for individual and institutional investors to invest in real estate debt either on a fractional or whole loan basis. As the marketplace grows, PeerStreet has the opportunity to expand into ever increasing amount of investment products as it continues to expand the investor base. 


What are your favorite parts of the PeerStreet culture summarized in three words?

Collaborative, friendly, dynamic


What is the most rewarding part of your job?

Working with the PeerStreet team towards a common goal.

How do you spend your time when you are not at work?

With family (3 boys) and friends doing various outdoor activities such as hiking, barbecuing, playing pickleball and tennis, and attending boy scouts with my youngest.

Define yourself in three words.

Energetic, curious, reliable

Thanks Jon and welcome aboard!

As a reminder, if you'd like to work with Jon and other great PeerStreeters, we're hiring!

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September 17, 2021

PeerStreet's Latest Lender Platform Updates

PeerStreet's product team has been hard at work releasing many new features on our Lender Platform. Here's a glimpse into some of the new features our originating partners now have available.

Status Tracking for Loans

The new loan status bar shows you what percentage of tasks are complete, and what percentage are still pending for increased loan transparency — allowing you to stay on track, and on time, for faster closings.

Scenario Builder

With Scenario Builder you can input loan options to get instant quotes, locking in your borrowers fast. Receive multiple recommendations on viable scenarios, or enter custom scenarios based on borrower's needs… all while generating immediate results.

Document Processing with AI Technology

Our AI technology for loan documentation is the first step in implementing more artificial intelligence across our Lender Platform. It builds on PeerStreet’s already strong technology, allowing us to ensure better accuracy while helping you to close faster, and create an exceptional borrower experience.

If you are interested in learning more about becoming a partner with PeerStreet, contact us at [email protected].

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September 15, 2021

Launching the Newest Investment Class for PeerStreet Investors and Lenders: Loans on Multifamily Properties

Investing in multifamily bridge debt has historically been a privilege only reserved for ultra high net worth and institutional investors and family offices. Until now. Meet our newest real estate investing asset class easily accessible for both investors and lenders: Multifamily Bridge Loans.

Previously, PeerStreet has primarily focused on short-term bridge loans and longer-term buy to rent loans, both collateralized by single family residential properties. As investor appetite for real estate investing has rebounded strongly, we started to create more resources and tools for PeerStreet lenders and investors alike. Over the past year, Multifamily Bridge Loans have gained popularity among borrowers and our nationwide network of lenders. Now, investors can get in on the action, too. 

How they work

A Multifamily Bridge Loan is conceptually just like a Single Family Property Bridge Loan, but collateralized by 5 or more units. 

Multifamily Bridge Loans are used by borrowers to acquire, upgrade, renovate, and reposition multifamily properties (5+ units). After the work on a property has been completed and people are physically living there and paying rent, the loan gets repaid when the property is either sold or refinanced with longer-term permanent financing. One of the many advantages of bridge loans for borrowers is that they often close very quickly and are based more on the value of the property than other factors. 


The specifics of PeerStreet’s Multifamily Bridge Loans

  • Loans range from $500K to $5M
  • Short term loans (typically 6-18 months)
  • Competitive interest rates within the bridge lending space
  • Higher yields than most traditional fixed income investments


What This Means For Your Wallet


Diversify your portfolio

Investing in Multifamily Bridge Loans can earn you yields that are greater than most traditional fixed income investments. How? This real estate investing asset class gives you the ability to diversify your portfolio backed by the security of a highly-sought-after product type: multifamily real estate. 


Tap into strong market demand

Multifamily Bridge Loans are expected to continue being a highly-sought-after asset in real estate investing, according to strong fundamentals in the national rental housing market.* So when you invest in real estate, you can feel good about tapping into different and growing markets and asset classes.


Ready to invest in Multifamily Bridge Loans? Start today.



*Pollack, Lynn. “Multifamily Set to Continue as Ideal Inflationary Hedge.”
GlobeSt.com, 13, Aug. 2021


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August 24, 2021

NY Times Features PeerStreet

Our co-founder and CEO Brew Johnson discusses the E.N.U.F. initiative, and changing the real estate landscape.

When the NY Times reached out about featuring PeerStreet’s E.N.U.F project, we knew we had to take advantage of the opportunity. It’s a project that’s very close to a lot of us at PeerStreet, and our co-founder Brew was excited to talk about E.N.U.F.


“We have a huge network of expertise and an ability to aggregate capital,” Brew explained to the NY Times. “So let's find some way to point this business to where it’s needed most.”

From the very beginning we had a desire to transform the mortgage finance industry. We wanted to make it more accessible and more inclusive. In many ways, that was the motivation for creating PeerStreet.


Our motto, “leveling the playing field between Wall Street and Main Street,” is more than just words. It’s something we try to live by—and to build our business around. 


So last summer, when we witnessed our country grapple with the murder of George Floyd, we asked ourselves… how can our platform be used to address some of the systemic inequalities of generational wealth? Our E.N.U.F. project was our initial answer to that question.


“We created E.N.U.F. specifically to help address those generational wealth inequalities,” Brett Crosby, PeerStreet’s co-founder and Chief Customer Officer, explained. “Not by holding anyone back, but by including more people who might not otherwise have been able to participate in the real estate industry.”


In reading the NY Times article, it was inspiring to learn about the other real estate equality initiatives happening. The work of those like Black Homeownership Collaborative—with its 3by30 initiative—is creating powerful waves of transformation. 


But even with all of these initiatives, real change is incremental. Doing our small part to support black investors and entrepreneurs is a start, but until the racial gap in homeownership is closed, there’s a lot more to be done—and PeerSteet’s committed to helping.


If you or someone you know would like to get involved with the Evolving Neighborhoods Uplift Fund, either as an investor, entrepreneur or mentor, please visit the E.N.U.F. website.

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August 19, 2021

Meet Us at Captivate in Las Vegas!

This week we are attending Geraci’s Captivate Conference in Las Vegas from the 18th-20th. Our own Dana Wasson will be speaking and presenting some of our cutting edge new lender tools, only available to PeerStreet lending partners. Her talk is at 1:45PM PT.



PeerStreet is a gold sponsor at this conference and we’ll have a booth complete with fresh PeerStreet swag, so if you’re a lender and want to work with us, come on by the booth and find Sean Feeney among others.​​



We’ve attended many Geraci conferences in the past and it is great to see so many friends in the industry come together again to find common ground and get back to work. 

Thanks also to Geraci for covering PeerStreet in the latest issue of the Captivate Originate Report where our co-founder and Chief Customer Officer, Brett Crosby, spoke about working through the pandemic:

“We used the time to focus on the health of our portfolio, streamline many of our core services and operations, develop our platforms and launch new products. We’re now fully operational, hiring incredible talent, and ramping volume. Now that the market has begun to normalize, we have been able to launch extremely competitive products for our lending partners.” 



Our lender-facing product launches this week at the Captivate conference are great examples of the tools we’ve been building to improve efficiency for our lenders, which should in turn result in even more opportunities for our investors. 


Read the full article on page 54 and 55 here and if you’re at the conference, be sure to catch Dana’s presentation!

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