%2011_07_24%20%20(1).jpg?rect=0%2C51%2C3650%2C1916&w=1200&auto=format%2Ccompress&ogImage=true "Streamlining Regional Rural Banks For Enhanced Effectivity And Progress")
Quick Information
Name of Startup: Fundhomes
Year Founded: 2022
Website: Fundhomes.com
Type of company: Fintech
HQ Location: Seattle, WA
Startup Founders;
Ming Zhu – CEO
Jack Donnell – Head of Growth
Startup one-liner:
The easiest way to invest in Vacation Rentals
Problem the startup solves:
Vacation rental investing is HARD. It involves hundreds of thousands of dollars, months of work, and a steep learning curve that keep most people out of the industry. Fundhomes is a fractional investing platform that offers shares in vacation homes to investors looking to earn the cash flow, appreciation, and tax benefits of property ownership – without the work. We allow anyone to access Real Estate investing for the first time, starting with as little as $50 – no accreditation needed.
Progress and Current Status:
We have acquired multiple properties that are currently 10%+ cash on cash returns for their investors, built our investment portal, and raised $500,000 pre-seed.
We have also filed all of our Reg A+ submissions with the SEC and are awaiting final approval for us to launch our platform to the general public, expected by March 2023.
What is an Inspiring Story about the Startup?:
When Fundhomes went to acquire our first property – we had no financial history for the company but needed a commercial loan from a bank to secure the property. Our Founder Ming Zhu personally backed the loan and was liable – despite not holding any personal shares of the LLC. The property is currently a success – but that personal liability demonstrates our confidence in the success of the model and the company, we are willing to bet on it – literally!
What is a Company the Startup Looks Up to, and Why?:
One company we look up to immensely is Airbnb! They created the opportunity to monetize the extra room in your house for the first time, and created a huge new revenue opportunity for the world. Our business model today is working to further expand the lucrative market they created. Additionally their work on humanitarian projects like housing refugees and climate incentives are close to our heart -and we hope to offer programs that are as impactful in the future.
The Company in Four Years Will Be…
In four years we will be at 1000+ properties sold to investors and generating tens of millions in returns and dividends on their behalf! In order to achieve this – we will be partnering with industry leading property managers and investment firms to maximize the reach of these investment opportunities.