eFund is basically crowdfunding for homes: People who want to buy homes, purchase shares (a minimum investment of 100 shares at $10 each), which fund housing renovations and new developments in their city. The investors are then eligible to purchase homes selling at a 10% lower price than if they were using a realtor.
The goal is to make new housing developments in in-demand cities. Los Angeles was the first city to receive a $50 million eFund. Within the first week of launching, nearly 6,000 people have invested at least $1,000 each in the LA eFund.