It’s safe to say that millions of Americans dream of becoming real estate investors but can’t or don’t due to a variety of challenges, including lack of accreditation, capital and time.
So it’s no surprise that in recent years, a flurry of startups have emerged that aim to give more people access to real estate ownership in the form of fractional shares.
Real estate ownership is the biggest source of wealth generation, and it’s out of reach for most Americans. As housing inequality grows, wealth inequality grows and property ownership remains inaccessible.
So this new app is brainstorming on ways to lower the barrier to entry to real estate and provide more people with the ability to access the asset class.
Until late last year, this app was mainly “getting through the regulatory process,”
So it only really started seeing significant growth this year. Specifically, grew from 600 to nearly 25,000 investors using its app in 2022.
Those users have invested in about 400 properties using the app. The startup currently has properties in Atlanta and New York City and will soon be launching in Charlotte, Birmingham, Tampa, Orlando and Jacksonville, Florida.
The company’s goal with its latest capital is to scale and gain “more investors in more markets.
This app over time has also secured $60 million in debt financing toward its market expansions.
The only requirements for investors are that they be above the age of 18 and U.S. residents. They can start investing with just $5, and buy and sell shares.