#751 Startups Think Your Next Landlord Could Be 100 Random People

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According to the National Association of Realtors, the average age of first-time home buyers has risen to 36 years old, perhaps because they are burdened with student debt. At the same time, since the great recession, investors backed by VC firms have bought a lot of apartment buildings and homes.

It’s always fascinating to see how startups respond to changes in the market. Startups are now buying properties and attracting first-time real estate investors to purchase shares of homes. Who is this good for? Our next guest wrote an article about this in one of the most recent issues of Wired Magazine called “Your Next Landlord Could Be 100 Random People” at WIRED.com

Amanda Hoover is a staff writer at Wired Magazine. She previously wrote tech features for Morning Brew and covered the New Jersey state government for The Star-Ledger.

Here is what we discuss with Amanda:

  • The article begins by talking about this new kind of startup, Arrived Homes. What are they offering?
  • Is this for people that can’t get a mortgage because they can’t afford the down payment or interest rate? Do they get “home equity sooner”?
  • Is this next landlord phase good or bad for a crowded real estate market that seems to be taken over by corporations more than individual homeowners?
  • Have barriers to home ownership come down?
  • Does it cause instability for homeowners that are only in it for profit?
  • You say that the CEO Ryan Fraizer says that 40% of the investors are renters themselves- did that surprise you?
  • If your next landlord could be 100 random people, how much does the average investor invest?
  • Another startup, Lofty AI, lets people invest using a token system. Is this different?
  • Another startup, ReAlpha, lets people invest in AirBnBs.
  • How long do investors expect to hold these homes and maybe sell them for a profit?

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Courtney Gilcrest is Barry’s Marketing Manager. She manages promotion for The Small Business Radio Show.

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