"David Berneman isn't developing an app. His company isn't venture backed. In fact, his business is about as low-tech as it gets: He buys houses, fixes them up and flips them.
But he too is funded by the crowd.
Berneman's family business, Golden Bee Properties, borrowed $1 million to buy a West Los Angeles home that he plans to renovate and expand before putting it back on the market. The money didn't come from a bank but from 44 small investors, some of whom put in as little as $5,000.
Berneman and his backers came together through crowdfunding, which enables businesses to publicly solicit investment from individual investors online."