Crowdfunding caught fire in 2015 and it will continue to be a hot real estate investing trend in the coming year, said David Tobin, principal at Mission Capital. 'People want to take control of their investing domain and in this day and age the alternatives in the fixed income market are non-traded REITs, private placement memos as an alternative to bonds, and the fee structures on those just don’t work,' said Tobin. Tobin said legality and liquidity concerns will remain for crowdfunded real estate investors because the practice is still so new to the market. He said questions will endure as to the exact legal structure of crowdfunded deals and whether or not they should be subject to S.E.C. oversight. Regarding liquidity, Tobin said marketplaces and platforms where there will be secondary trading of crowdfunded investments will arise and develop, although they are not here today. Tobin said construction of apartments and hotels near college campuses will continue to be hot in the coming year. He said so-called graduate hotels in cities where there is a big education and/or medical infrastructure are popular because of the job growth and highly educated people in these areas.