HomeRoom (Founding)

Founding Year: 2022
Company Description: Homeroom helps investors provide affordable housing while making a 22% ROI. We do this by sourcing properties, arranging capital, managing construction, vetting tenants and collecting rent by the room. To date, Homeroom has brought on 85 property investors, growing 6X annually, are bringing in 420K in annualized net-revenue How it works: We help investors buy homes in cities that are attractive to young people, but lack affordable housing options. We then renovate and after about 20 days, the home is ready and we find qualified renters by the room. We launched in 2018 in Kansas City with 1 home. We now have 105 homes in 31 cities. In 2021, we grew rental GMV to $1.8M (300% YoY growth). Our average rent across every property is $458, which is about 50% lower than market comps, and our investors see returns up to 50% higher. We are HomeRoom. Johnny is the financial analyst/domain expert. Thomas is a cereal entrepreneur with a PHD in ML, and Mike hacked growth for Airbnb and Facebook.
Market: Real Estate and Construction
Location: San Jose, CA, USA; Remote
Coinvestors: YCombinator