Anybody use Fundrise? (margin, invest, income, tax return)

[sixburgh90]

Hi All!

I was hoping someone on here uses Fundrise, as I had a few questions and would appreciate the help! I sent an email, which I doubt I will hear anything until at least Monday since its the weekend.

I recently setup an account and deposited a small amount into it last night. It looks like those funds are then automatically invested into the interval fund? My level listed right now is on basic (as I wanted to fund a small amount to see how I like it first), which looks to limit the investing options.

My questions:

1. Is there a way to select the areas I would like to invest in vs. allowing the site to invest for me? The only option would be until I reach the core level, which allows me to invest directly?

2. I am a little confused on the structure, as It appears all of my deposits will go directly into the Interval fund at this point? However... it appears I also have an active project listed too?

Is there a way to diversify my deposits so they all do not go into the interval fund or there are essentially different projects within the fund that my deposits will instead go to directly?

Appreciate the help

[RationalExpectations]

So... you put money in Fundrise BEFORE you had answers to your questions?

[leastprime]

DS does. About 1 yr. He has suggested that we use FundRise as part of our portfolio.
Ask me if you want our disclaimers and you will understand why Fundrise is OK for him and marginal for his parents.
I don't know the particulars.

[sixburgh90]

Originally Posted by leastprime

DS does. About 1 yr. He has suggested that we use FundRise as part of our portfolio.
Ask me if you want our disclaimers and you will understand why Fundrise is OK for him and marginal for his parents.
I don't know the particulars.

Any additional info would be appreciated. Thanks for replying. The other item I am trying to look into is that it sounds like you can receive a K1 Form. This would be consolidated and isn't too hard too complete from my understanding for Federal. However... it sounds like you would have to complete state returns for any investments within those states. Ex. Your 5k investment contained an apartment in NY, rehab in NJ, etc. Then you would have to complete a separate state tax return for any impacted states. That is crazy to think(as maybe I am understanding this incorrectly) which I was hoping someone might be familiar with this or from their experience... how many state returns they had file from their investment

[leastprime]

When I had a K-1 (midstream pipeline, llp) IIRC, it was apportioned by amount of business it did in your state of residence. We and DS live now in a income tax free, state. Consult your advisor.
The K-1 was miniscule, IIRC, statement came after filing, and final statement well after April 15.
I forgot to ask DS how he filed the K-1.