YieldStreet.com is the online home of YieldStreet, a company that says their goal was to “democratize investing” and provide better investment opportunities for accredited investors and the businesses that needed capital.
How Does It Work?
According to their website, the creators of YieldStreet.com noticed that there were some issues with the current state of investing. First, Milene Mehere wanted to find investment opportunities outside the stock market with real collateral and attractive yields but realized these opportunities were nearly impossible to access because they required too high minimums and long holding periods.
Michael Weisz and Dennis Shields built successful careers in identifying and funding worthy borrowers but realized that the inefficiencies of conventional capital limited their ability to fund many deserving borrowers. Together, the three of them decided to get to work on an online marketplace that connected accredited investors to solid asset-based investment opportunities.
They promise their investors that they expertly vet all opportunities available through their platform, and their strict due diligence process and 5 point investment philosophy means that they decline the overwhelming majority of investment opportunities reviewed by their company and that only the strongest opportunities are approved.
As mentioned above, this company provides investment opportunities specifically for accredited investors, which is defined by the U.S. Securities and Exchange Commission (SEC) as one of the following:
1) An individual who has individual net worth, or joint net worth with a spouse, that exceeds $1 million at the time of investing, excluding the value of the primary residence of such person.
2) An individual with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year.
3) An entity with total assets in excess of $5,000,000.
4) An entity where all equity holders are accredited investors, individually.
5) A bank, insurance company, investment company, broker/dealer, Business Development Company or a Small Business Investment Company that meets accreditation requirements put forward by the SEC.
Their website says that they eventually hope to expand their investment opportunities beyond accredited investors, but this opportunity simply isn’t available at this time.
As an investment company, YieldStreet does not really offer their customers any kind of a Refund Policy. First and foremost, all customers of this investment platform must be aware that any money they invest does have the opportunity to be lost, even when working with a company that works hard to vet all their opportunities.
When it comes to getting your money back from an opportunity you have invested in, this will be entirely dependent on the specific investment itself. Some investments require that investors keep their money invested for longer periods of time, such as one year, while other investments will have shorter periods of time for divestment.
Customer Service Contact Info
Customers who have questions, concerns, or complaints they would like to direct to their Customer Service team can contact them by phone at 844-943-5378 or by email at [email protected]
This company appears to have decent reviews at this time, even though there simply aren’t that many available quite yet. The biggest criticism of this company is simply that their investment opportunities are only available for accredited investors at this time, which obviously discounts many other investors that would like a chance to take advantage of their investments.
Competitors and Alternatives?
If you are an accredited investor, there are actually many different online investment companies that will work with you to find new investing opportunities that meet your needs, whereas it is much more difficult for non-accredited investors, as mentioned above.
If you have any experience with this company or their products, please leave your YieldStreet.com reviews below.
1 ‘YieldStreet.com’ Review
I have had four investments with Yieldstreet. Three of the four are now in default. Only one made it to maturity, while one has gone completely bankrupt. Stay away at all costs. They are incompetent and do not answer questions once they have you on the hook. They will be great until they have your money.
Cases have been opened with local, state and federal authorities.
Originally, you where able to use your own self-directed IRA to invest with Yieldstreet. Yieldstreet now requires that you use their self-directed IRA. This probably does not matter to me anymore, because I will probably not be investing there ever again.