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Beware of Platform Risk - How PeerStreet, a Real Estate Crowdfunding Firm, Went Bankrupt

Money For the Rest of Us

CHAPTER

Pier Street and the Bankruptcy Risk

Pier Street loans are mortgage-dependent promissory notes that in the case of bankruptcy, holders would be unsecured creditors. One house in Ventura, California burnt down due to wildfires. Since then, I've been much more cognizant of this platform risk and there are ways that it's mitigated.

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