Growing up, Andy Smith was well aware of the financial limitations faced by middle-class families when it came to investing. The lack of funds and the complexity of the investment landscape made it seem impossible for them to participate. Recognizing the need for change, Smith established The People’s First Company (TPFC), a venture dedicated to providing an accessible entry point for individuals looking to invest in a crowdfunded real estate portfolio worth $100 million.
TPFC is currently in its ground stage, with a team spread across the United States and initial support from Christianson Cos, a real estate development company based in Fargo. The goal is to launch the portfolio in the coming weeks, accommodating investments from as little as $200.
The company’s focus on real estate assets in the hospitality industry stems from the team’s expertise and familiarity with the sector. Smith believes that by acquiring cash flow generating properties without resorting to debt, investments as small as $200 or as large as $2 million will be backed by tangible assets with a sustainable value.
Furthermore, TPFC offers flexibility to investors. Rather than requiring them to commit to a decade-long hold, they have the option to liquidate after a year if desired. This approach aims to empower individuals and provide them with the freedom to tailor their investment journey according to their needs and preferences.
One crucial source of support for TPFC came through BisonX, a nonprofit venture capital firm. BisonX facilitated valuable connections that accelerated the process of building the crowdfunded portfolio. By bridging the gap between businesses seeking financial assistance and guidance, BisonX aims to empower entrepreneurs in Minnesota, North Dakota, South Dakota, Montana, and Wyoming.
The decision to establish the headquarters of both TPFC and BisonX in Fargo, North Dakota was strategic. Smith’s background in the oil and gas industry, coupled with the existing relationship with Christianson Cos, made Fargo an ideal location for their operations.
By disrupting the traditional investing ecosystem, TPFC is breaking down barriers for middle-class families, demonstrating that investment opportunities should not be restricted solely to the wealthy. Through their innovative approach and dedication to transparency, TPFC is poised to revolutionize the real estate investment landscape, opening doors to financial growth and prosperity for all.