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Home Buying Property

Roofstock Surpasses $2 Billion in Property Transactions

by admin
February 29, 2020
in Buying Property
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OAKLAND, Calif.–(BUSINESS WIRE)–Roofstock, the main on-line market for investing within the $three trillion single-family rental dwelling sector, introduced it has surpassed $2 billion in transaction worth because it debuted in 2016. The corporate’s momentum underscores the large pent-up demand from buyers searching for publicity to U.S. housing and Roofstock’s success in leveraging know-how to assist buyers entry the asset class – making actual property investing almost as simple as shopping for shares.

There was additionally vital development on the availability facet. The variety of dwelling sellers on Roofstock’s market elevated by 10x from 2018, creating a gentle pipeline of funding alternatives for potential consumers all year long. The important thing advantages to sellers embrace promoting 77 p.c sooner on Roofstock than by means of typical channels, the power to promote tenant-occupied properties and considerably decreased charges in comparison with conventional brokerages.

Roofstock CEO Gary Beasley stated: “Attaining $2 billion in transactions on our market is a validation of our authentic thesis that individuals could be keen to purchase properties, sight unseen, from anyplace on the planet. Buyers are hungry for publicity to tangible actual property belongings and we’ve given them an avenue to get within the recreation, armed with in depth data and a strong set of providers to help them at each step of the method. We’re excited to proceed bettering and rolling out new merchandise within the 12 months forward.”

These bulletins come on the heels of a $210 million transaction Roofstock helped facilitate by means of its platform on behalf of Invitation Properties, the nation’s largest institutional proprietor of single-family rental properties. Roofstock’s platform is exclusive in that it might probably serve each massive institutional buyers and retail buyers searching for to purchase or promote particular person properties, and even fractional shares of properties.

Roofstock’s success with buyers has enabled the corporate to put money into itself during the last 12 months, with a number of new hires, awards and product releases that place the corporate for long-term success, together with:

  • The comfortable launch of Roofstock Platform Providers, which leverages REACT, the corporate’s proprietary Actual Property Analytic Cloud Know-how. This sturdy Actual Property as a Service providing successfully creates the actual property funding “cloud” for buyers. Roofstock Platform Providers permits institutional buyers with no infrastructure or expertise in single-family leases to effectively obtain the direct actual property publicity they search by leveraging the Roofstock platform and administration infrastructure. The service will likely be out there to new institutional buyers in January 2020.
  • Enhancing its proprietary knowledge engine with an up to date Neighborhood Ranking system. To enhance buyers’ perception into the potential efficiency of particular person properties, Roofstock launched enhanced neighborhood security and native faculty knowledge into its neighborhood ranking rubric. Now, the quantity and kind of native crime in addition to the standard of native colleges and different danger indicators will affect the ranking of properties on Roofstock’s market, giving customers a extra well-rounded understanding of a possible funding.
  • Entrepreneur Journal naming Roofstock as a 2019 Entrepreneur 360 award winner. Roofstock’s sound monetary well being, dominant place inside its area of interest and monitor file of regular year-over-year enchancment have been key components in securing this prestigious award, inserting it among the many high startups on the planet in keeping with Entrepreneur’s evaluators.
  • Hiring employees crucial to supporting continued development, together with a Chief Product Officer, Common Counsel, Controller and Head of Retail Gross sales. In October, Ketan Babaria joined the corporate as Chief Product Officer to spearhead product innovation. Geoffrey Thompson joined as Common Counsel, Kristine Radhakrishnan joined as Controller, and in November Amy Kirsch joined as Head of Retail Gross sales.

Matt Harris of Bain Capital Ventures stated: “Roofstock’s unimaginable development will be attributed to its rockstar staff, dynamic management crew and a unifying imaginative and prescient to make the advantages of actual property investing out there to everybody. Roofstock is main the transformation of this trade, utilizing know-how to create a platform that gives extra entry, extra alternative and a greater expertise than something beforehand out there.”

About Roofstock

Roofstock is a number one market for investing in actual property, providing funding properties in high U.S. markets. The corporate gives complete sources for buyers to purchase, personal and promote actual property on-line, together with knowledge analytics, property administration oversight, and different instruments. Roofstock’s clear, revolutionary market empowers buyers to personal cash-flowing rental properties, diversify their funding portfolios and construct long-term wealth by means of actual property. The corporate is backed by world-class buyers together with Khosla Ventures, Lightspeed Enterprise Companions, Bain Capital Ventures, and Canvas Ventures and was named to the 2019 Forbes Fintech 50 record.

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