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House flipping startup called open door wtf

By everything following x   2018 Jun 13, 12:05pm 1,314 views   5 comments   watch   nsfw   quote     share    


Oh well, lets party like it's 2006-2008 for awhile longer yet while people run amuck.

https://www.cnbc.com/2018/06/13/house-flipping-start-up-opendoor-raises-325-million-series-e.html?__source=realestate%7Cnews%7C&par=realestate
1   Ceffer   ignore (2)   2018 Jun 13, 12:21pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Sociopaths with bobbing eyebrows, gleaming toothy smiles, and little sparkles in their manic eyeballs. I like it. Take my money, PLEASE!
2   mell   ignore (2)   2018 Jun 13, 12:27pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

What could possibly go wrong?
3   APOCALYPSEFUCKisShostikovitch   ignore (41)   2018 Jun 13, 1:33pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Perfect.

Lennar sells exclusively to Flipper, Inc.

After seven flips the house is 10x the valuation of the GDP of Chile

Then everyone starts gaming the secondaries.

Before the year is up, any house in Vallejo will be worth the GDP of the universe.
4   anonymous   ignore (null)   2019 Feb 23, 7:47am   ↑ like (0)   ↓ dislike (0)   quote   flag        

San Francisco-based real estate startup raises another $200 million

San Francisco-based Opendoor will raise another $200 million, bringing its valuation up to about $3.7 billion, Techcrunch reports.

The funding round for the fast-growing real estate startup, which facilitates timely home sale transactions for a fee, follows a massive $400 million injection from SoftBank Vision Fund in September, alongside $2 billion in debt financing.

According to papers filed in Delaware — and uploaded by Techcrunch — it is unclear whether the $200 million funding has already taken place, as the filing is dated Feb. 8. It’s also unknown if the funding is a conversion of its prior series E funding or a new outside round, as Opendoor declined to comment to Techcrunch.

Opendoor, which was founded in 2014, told the Business Times in September it expected to have 1,000 employees by the end of last year, up from 500 at the start of 2018. The platform currently works in nineteen cities spanning the United States including Denver, Houston and Sacramento, though none in the Bay Area.

Last year, the company also opened an engineering and design office in Atlanta, plus a Los Angeles engineering office, though its headquarters remains in San Francisco.

Opendoor's acquisition last year of Los Angeles-based Open Listings allowed
the company to begin serving both home buyers and sellers at a substantial discount compared to traditional real estate commissions.

“Our mission is making home buying and selling simple, instant and hassle-free. If that means building the experience from the ground up, that’s what we’ll do,” Opendoor founder and CEO Eric Wu recently told the San Francisco Business Times. “Our lens focuses on what’s going to produce the best customer experience.”

Beyond Softbank, the company’s investors include Andreessen Horowitz, home-leasing company Invitation Homes, homebuilder Lennar, Norwest Venture Partners and Travis Kalanick’s 10100 Fund.

https://www.bizjournals.com/sanfrancisco/news/2019/02/19/opendoor-raises-funding-homebuying-startup.html

NOTE: 4 related articles on Opendoor available from the link above
5   everything   ignore (1)   2019 Jul 29, 6:51pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Things change fast, their is a way to get ahead of the flippers.

https://www.cnbc.com/2019/07/26/this-is-the-fastest-growing-trend-in-the-housing-industry.html

Open door up to 1250 employees, beefing up it's Phoenix operations.
https://www.latimes.com/business/la-fi-opendoor-home-flipping-20190702-story.html

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