I am personally waiting until I see some sort of track record before jumping in. As of right now, all they've proven is that they can hire good marketers and raise some VC.
Edit after reading parts of the circular: liquidity only starts after 6 months. They'll pay the greater of $9.50 or the NAV per share with a minimum redemption of 25% of your total investment.
Also, just to be clear, this is a mortgage REIT. They won't be owning any properties, they'll just be writing notes to small commercial businesses. We, as outside investors, have zero visibility or control into what they actually plan on doing with our capital contributions.
For me this goes in the "too complicated" pile for now.