When Justin Klish stumbled upon an ad for Yieldstreet in February 2022, he said, it was the company’s tagline that stuck in his head.
“Invest like the 1%,” the startup said.
The ad spoke to his desire to build wealth and diversify away from stocks, which were then in freefall, Klish said. Yieldstreet says it gives retail investors such as Klish access to the types of deals that were previously only the domain of Wall Street firms or the ultrarich.
So Klish, a 46-year-old financial services worker living in Miami, logged on to Yieldstreet’s platform, where a pair of offerings jumped out to him.
He invested $400,000 in two real estate projects: A luxury apartment building in downtown Nashville overseen by former WeWork CEO Adam Neumann’s family office, and a three-building renovation in the Chelsea neighborhood of New York. Each project had targeted annual returns of around 20%.
