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Episode Summary
On this episode of The Wealthy Wellthy Podcast, I interviewed Eve Picker, Founder, and CEO of Small Change, a crowdfunding site for real estate investing. Eve shared some of her background in urban design and community development and described how the economic shifts of the mid-2000s caused her to get involved in securities law unexpectedly. When the Jobs Act of 2012 loosened restrictions on crowdfunding, among other things, she realized the opportunity in front of her to use her new securities knowledge to support her first love of community development in the form of the Small Change crowdfunding platform.
Eve and I had a great chat about the drastic impact that her platform has had in allowing unaccredited investors to enter the real estate investing space as well as the positive impacts that developers, with projects on the site, are having on the communities where they’re working.
While many real estate developers and investors have found the wealth of opportunity available through Small Change, there is so much more potential for investors to see their money turn over much more quickly and with higher returns than their traditional retirement funds are able to achieve. Eve and her team are doing great work in the community development space and I look forward to continuing to hear about their growth in the future.
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You can also click on the timestamps below to jump to those specific points in the conversation.
What We Covered
- [1:37] – Introduction to Eve Picker
- [5:10] – What happened when everything changed in the mid-2000s and then the Jobs Act was passed in 2012.
- [9:06] – The creation of the Small Change crowdfunding platform.
- [12:01] – How the developers on Small Change’s platform make broad impacts.
- [14:15] – The process of connecting developers with investors.
- [18:58] – Eve’s desire to vet developers to be sure they are focused on making a difference.
- [20:58] – What does it look like to become an investor?
- [24:32] – Investors of every financial level are treated the same by developers.
- [27:10] – The difficulty of converting unaccredited investors from brand awareness to brand engagement.
- [29:28] – Removing the assumption that investing is risky and not for the average person.
- [30:46] – Eve’s perspective on the gender gap in investing.
- [31:55] – What is a waterfall? What do the payouts typically look like?
- [36:39] – Clarifying that active investments like this are setting people up to amplify their wealth-building much more than traditional retirement accounts.
- [38:06] – How Eve has risen to the challenge despite never dreaming of being in the tech or securities industries.
- [39:42] – Eve busts the myth that “all developers are evil.”
Tweetables
[Tweet “When you can, get money from the bank.”]
[Tweet “That unaccredited investor crowd is just not there yet.”]
[Tweet “The technology side is a little simpler – it’s the securities rules that are really mindblowing.”]
[Tweet “I really believe that the government needs to step in a lot earlier to protect people in certain neighborhoods against being pushed out.”]
[Tweet “There are a lot of great people out there working very hard to make cities and neighborhoods better places for everyone.”]
Links Mentioned
Website: https://www.smallchange.com
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