Nada

Cityfunds by Nada is a Dallas-based fintech platform that lets retail investors — accredited and non-accredited alike — buy fractional shares in city-specific funds backed by portfolios of Home Equity Agreements (HEAs) and single-family rentals. The model is structured like a thematic ETF: instead of picking individual properties, investors gain indexed exposure to the residential real estate market in a single high-growth city. Four funds are currently active — Austin, Dallas, Miami, and Tampa — each acquiring "Homeshares" (fractional stakes in owner-occupied homes purchased at a discount to appraised value) alongside a smaller allocation to buy-and-rent properties. The structure is registered under Regulation A Tier II and FINRA, allowing anyone with a U.S. address to invest through the Cityfunds app or website.

The platform targets an IRR of 12–16% over a 5–7 year hold period, with returns generated through home value appreciation and quarterly income distributions. Nada charges a 1.5% annual management fee and a 1% acquisition fee per deal — straightforward by industry standards, with no carry or performance fees. A secondary trading platform has been launched to address what was previously a complete lack of liquidity, but BBB complaints filed as recently as Q4 2025 describe investors still unable to access their funds, missed quarterly statements, and unresponsive customer support. This is the platform's most material risk and should be weighted heavily in any investment decision.