How do most millionaires build their wealth?

90% of millionaires invest in real estate. Steady lets you earn passive income from real estate for $100.
iPhone appAndroid app
iPhone appAndroid app

About Steady

Steady is a mobile app for retail investors to buy shares of income-generating commercial real estate (CRE).

Make investments and see financial reports in our dashboard. Get monthly or quarterly passive income from your investments deposited to your bank account.

We do not offer high-adrenaline investments. We don't have an app designed to keep your eyes glued to your phone. We pursue steady returns over hype.

We are the tortoise in the race full of hares.

What our customers say

Why commercial real estate

CRE is a large legacy asset class that's built generational wealth for many families. However, it requires lots of money, time & expertise, making it inaccessible to everyone but the top 1%.

Steady opens up CRE investing to everyone outside of the top 1%.

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How it works

1. Choose a property

We qualify all properties based on their risk/return trade-off.

Returns hinge on the sponsor's ability to operate the property and add value. To help you decide whether to invest, we attach an investment memo to each property explaining the sponsor's plan to generate returns.

2. Decide how much to invest

Our current minimum investment is $100. You can invest in increments of $100.

3. Sign the papers

At this point, you are officially a limited partner (LP) of the property! The papers explain what happens to your money and will protect you from liability.

4. Get passive income and reports

Most sponsors like to send cash flow and reports either monthly or quarterly. They also send annual K-1 documents for taxes.

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FAQs

When you invest with Steady, you get equity in the property in return. For instance, investing $100 in a deal gives you $100 of equity in the deal.
If Steady can't close the deal, we return all submitted investments for that deal. Steady gets no equity in the deal if we can't close it. We won't keep any money if we can't give equity in return.
  • We don't raise enough money to fill our allocation.
  • The sponsor oversubscribes the deal and can't make room for Steady.
  • The sponsor themself couldn't close the deal with the seller, and the seller chose a different sponsor to buy the property.
Steady uses your money only for closing the deal and nothing else, and will send it to the sponsor. The sponsor uses the money only for closing the deal with the property's seller, and nothing else.
Your money doesn't touch Steady's money. We keep it in separate accounts and manage it with Modern Treasury.
Steady and Fundrise are opposite approaches to democratizing CRE investing.
Fundrise is low return, high liquidity. You can buy and sell Fundrise shares any time, but REITs like Fundrise aren't designed to build new wealth, only preserve existing wealth.
Steady is high return, low liquidity. When you invest in a Steady offering, your money is locked up for at least a couple years. However, during those few years, compounding interest is working hard to generate returns for you, not just keep pace with inflation.
Our two criteria are skin in the game and a strong sponsor track record.
As a policy, I list deals only if the sponsor invests significant personal money themselves as their own skin in the game. I have to be excited to put skin in the game too. Our policy doesn't allow listing deals that I'm not excited to invest in myself, or if the sponsors don't have skin in the game.
The majority of the value from a real estate deal is derived by the deal's sponsor. We list deals only from sponsors with a track record of making money for LPs.
We like products that can do a 10-30% net IRR, with a 5-12% cash yield. That means you'd get $5-$12 per year in passive income for every $100 you invest, while also getting appreciation on top of your cash.
If you're investing $100 or $1,000 with Steady, we want the investments to be safe enough for us to trust we'll get our money back, but we also want enough return for us to look forward to investing.
Here's how we think about deals that will match our strategy:
AttributeDeals we likeDeals we dislike
Deal sizeMid-market, roughly between $5M and $25M.Deals that are less than $5M are small enough to compete with rich doctors, bankers & lawyers who want to invest actively in real estate. Deals larger than $25M are big enough for institutional buyers. Mid-market deals have way less competition, meaning there's way more money to be made.
MarketSecondary and tertiary. These markets are smaller, so cap rates are higher and properties have more value-add opportunities.Primary metropolitan markets. These markets attract way larger buyers. Although properties in primary markets are super fun to own, their cap rates are much lower, you compete with institutional buyers, and the returns are lower.
Product typeClass B and C industrial, multifamily, and self-storage. These products perform well, but they're edgy enough to weed out competing buyers and generate a low- to mid-teens net IRR.Overly conservative products. That includes Class A inventory, because Class A has been very recently built or renovated, so there's minimal value-add opportunity, and cap rates are low. We also stay away from wilder products, like vacation rentals, because the risk is too high.
Your expected return depends on the deal and sponsor. Some deals are higher risk, so the return is higher. Some deals are lower risk, so the returns are lower. Most sponsors target a specific return as their strategy across most or all of their investments. I intentionally seek out deals with 10-30% net IRR for Steady. You'll know a deal or sponsor's expected return before you invest.
We have short-term and long-term answers for liquidity.
In the short-term, liquidity is determined by the deal's sponsor. When the sponsor sells the property, we all sell our stake too. This means that Steady deals in the short term are as illiquid as traditional real estate investments are for accredited investors.
In the long-term, we'll create a secondaries market for any Steady users to buy and sell shares in deals. That way you can sell your stake to another Steady user, or you could increase your position in your favorite deals by buying stakes from other users. We are VERY excited to launch this market for everyone to buy and sell stakes in properties!
We charge an asset management fee and carry, which both vary on the offering. Our current standard fees are 3% asset management and 15% carry.

Want to learn more?

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Steady is a property of Creative APIs Inc.