Invest with Upright

Pre-Funding Note Fund (PFNF)

Invest in a line of credit that funds every loan underwritten and originated by Upright, with a minimum investment of $1,000.

  • 100% interest paid, 100% principal repaid, 100% on-time
  • Instant diversification across developers, regions, & projects
  • Minimal exposure to economic shifts
  • Fixed interest and maturity dates
  • Loan diligence and originated by our analysts

What is the Pre-Funding Note Fund (PFNF)?

PFNF (or the fund) allows accredited investors to invest in a line of credit that finances every loan underwritten and originated by Upright.

Investment into PFNF purchases a series note issued by the fund (this is a debt instrument, not equity investment). PFNF then invests capital raised via series notes into a prefunding line of credit. Principal in the line of credit is used to fund first-position mortgage loans secured by residential real estate.

PFNF features fixed interest and maturity dates and is structured so that investments may earn interest from the day funds clear escrow with earned income paid monthly.

Investment Opportunities

Pre-Funding Note Fund
PFNF Series Notes
Pre-Funding Note Fund (PFNF) The opportunity: Through the purchase of notes issued by this Pre-Funding Note Fund, LLC, investors can now invest in a line of credit used to pre-fund first.
11 Months
Horizon Residential Income Fund
Horizon Residential Income Fund I, LLC (HRIF)
HRIF will invest in a diversified portfolio of short-term residential bridge mortgage loans, providing investors with the significant tax benefits of a REIT.
Preferred Return
Target Return
10% - 13%
Browse More Investment Opportunities

Why Invest in Real Estate?

There are plenty of ways to earn passive income. And like any investment, real estate comes with risk, pros, and cons. But in the last two decades, only returns from investing in private real estate have performed better than equities on a risk-adjusted and absolute basis.

One of the key benefits of real estate investments is that even in an economic downturn, the asset is tangible and still holds value. Moreover, real estate prices/values have historically surpassed inflation rates.
Protection against inflation
Better historical performance than equities
Passive income opportunities
Diversification due to lower correlation to public markets

Why Invest with Upright?

Earn Up to 13% Returns
We’ve paid our investors millions in interest and repaid more than 99% of principal. Since 2014, investors have earned an average annualized return of more than 10.8% with principal repayment typically in less than 10 months.
Strict Underwriting Criteria
Only about 6%–8% of all projects submitted for funding meet our underwriting criteria. And unlike many other real estate investment platforms, we underwrite and originate all of the loans available to invest in.
Downside Protection
We pre-fund every deal on our platform with a first-position mortgage that’s secured by a real asset — the property. In the event the project doesn’t go as planned, your downside is cushioned by the value of the actual property as well as the borrower’s equity.
We’re dedicated to industry-leading transparency in everything we do, from the information we share in our deal descriptions to updates on our book of business. Take a look here: Performance Reports, CEO Articles, Testimonials.
Our Team
We’ve been originating loans throughout the U.S. and helping investors earn passive income since 2014. We’re focused on forging long-term relationships with our customers to help them reach their investing goals and create long-lasting wealth. Accredited investors are supported by our Investor Relations team, and developers are supported by local Territory Managers and our team in Cleveland, OH.

Compare Our Investment Offerings

Individual Project Notes

Total control over your portfolio — every region, project, and borrower.

$5,000 minimum investment

  • 3 – 24 month terms

  • $59M+ interest paid

  • 99%+ principal repaid

  • 10.8%+ average returns

Residential Bridge Note Fund (RBNF)

Minimal exposure, instant diversification. Fixed interest and repayment.

$1,000 minimum investment

  • 6, 9, or 12 month terms

  • 100% interest paid

  • 100% principal repaid

  • 10%+ average returns


One investment, multiple projects. Fixed interest and repayment.

$1,000 minimum investment

  • 3, 6, 9, or 12 months

  • 100% interest paid

  • 100% principal repaid

  • 10%+ average returns

Horizon Fund

Short exposure. Instant and revolving diversification.

$15,000 minimum investment

  • Tax advantages

  • Quarterly distributions

  • Target offering: $30M

  • Target return: 10%–13%

Blueprint Fund

Diversified portfolio of new construction, residential loans.

$15,000 minimum investment

  • Multiple ways to invest

  • Quarterly distributions

  • Target offering: $100M

  • Target return: 11%–14%

Upright Investments
Frequently Asked Questions
How will I know the status of my investment?

We regularly update the individual deal descriptions as the project progresses. These updates are also emailed to you.

What am I investing in when I invest in a PFNF?

Through the purchase of notes issued by the Pre-Funding Note Fund (PFNF), investors can invest in a line of credit used to pre-fund first-position mortgages originated by FTF Lending, LLC. The line of credit PFNF issues is used to originate loans prior to syndicating them on the online platform or selling the loans to institutional whole loan buyers. Investors have the opportunity to gain exposure to a pool of loans that are held on the line for a short duration prior to being sold. Learn more here.

When do I get paid?

PFNF has a fixed interest rate and fixed maturity date, so you have greater certainty of repayment a loan maturity.

What fees will I pay with a PFNF?


Is my investment secure?

There is risk inherent with any investment. Read more about our approach to underwriting, what happens in the case of our insolvency, and how we’re audited, here.

Can I sell my investment?

No. We currently do not offer a secondary market for selling purchased notes.

Can I rollover my principal balance?

Yes. When your PFNF is approaching its maturity date, you will receive emails giving you the notification to rollover your balance or have the money paid to your bank account. Rolling over your balance into a new RBNF, PFNF, or BDN allows you to instantly invest in another product without waiting for funds to settle.

What are the risks of investing with Upright?

Like any investment, there are risks involved with investing in real estate debt. There are also mitigating factors to help cushion those debts.

For example. the market value of the property could drop significantly, reducing opportunity for the developer to make a profit. However, the property is most likely located in a stable market and was purchased at a discount providing downside protection in a falling-price environment.

Or the developer may be unable to finish the property in the allotted term length. For this situation, Upright builds in an optional 3-month extension, approved only if the project is advancing at a satisfactory pace. The extension corresponds with an additional fee to be shared on a pro-rata basis with investors.

Prior to investing, you should fully diligence each deal,  as well as consult your investment, tax and legal advisors prior to investing. Additional risks for each deal will be outlined with the Offering Materials.

What is passive real estate investing?

Passive real estate investing is what our lenders do: They invest money into an asset with the expectation of generating income. It’s the traditional definition of an investment. The lender’s time is not required to manage or operate that real estate asset. The asset (like a distressed home) is backed by a note and a first-position lien.

On the flip side, active real estate investing, or what our borrowers do, means investing both equity and time into an asset to generate income, such as being a landlord or rehabbing a home. Active real estate investors are responsible for any of the following: Sourcing properties for acquisition, getting financing, overseeing construction and contractor teams, and/or managing tenants.

What is an accredited investor?

Accredited investors must meet this criteria:A net worth of at least $1 million, either alone or together with a spouse or spousal equivalent (excluding the value of the person's primary residence), orEarned an income that exceeded $200,000 (or $300,000 together with a spouse or spousal equivalent) in each of the prior two years, and reasonably expects the same for the current year, or A Series 7, 65, or 82 license in good standing. Read More Here.