Better housing that costs less. 

There's a housing shortage crisis in the US. We have a solution.

19 Ways Panel Tek homes are superior to most homes:

1. Durable – our first panel home is 23 years old and has survived a hurricane.

2. They look like site-built home owners will be proud of, not like a mobile home.

3. Choose from 12 designs. More will be coming.

4. Choose your interior and exterior finishes.

5. Order-to-delivery time: 6 weeks.

6. Two people with low-to-moderate skills can assemble a home in approximately 6 hours with a cordless drill, not including windows and doors. A contractor can do it in 4 hours.

7. Extremely energy efficient — insulation is so good our panels can be used for a walk-in cooler.

8. Soundproofing is so good our panels can be used for a sound studio (with custom doors and no windows).

9. Far less maintenance than a traditional home.

10. Termite proof and rot proof.

11. Hypoallergenic.

12. Everything in our homes is recyclable.

13. Every single piece of waste after building is recyclable. Expect to fill a standard trash can to a 3-cubic-yard dumpster.

14. Meets low-VOC standards. Panels are made of steel skins encapsulating polystyrene. This sequesters polystyrene in its most sustainable and recyclable form.

15. Industrial-strength automotive coating on steel skin protects against salt air.

16. Homes can be built on concrete slab, over a basement or crawl space.

17. Online order-to-delivery is easy. You don’t even need to talk to anyone!

18. Certified seismic zone A — C (most of the US). Our structures already meet the requirements for seismic zone D — F (most of California and parts of the west) and we’ll begin the 45-day certification process as soon as we raise the funds to cover the cost ($80,000). It’s our first priority for this raise.

19. Live load rated for 24 lbs. per sf on the roof (slightly more than the Tahoe snow rating). Could add a standing-seam roof that heats up and sheds snow.

We’ve got traditional building, prefabs and competing products beat.

Our 36 to 50-pound panels can be easily lifted. Two people with low-to-moderate skills can assemble the exterior walls and roof with basic tools such as a cordless drill. A contractor can do it in 4 hours. If you’ve ever tried to assemble a simple Ikea bookshelf you’ll know why we recommend hiring a contractor! (Times do not include the windows and doors.)

We have replaced traditional wood framing. A contractor or subs will be needed to install plumbing, electrical, dry wall, flooring, doors, windows, HVAC, cabinets in kitchen/bath, and paint. We make it all easy with specs and recommendations. Drywall is recommended but not required. Panels can be painted but it’s least expensive to place plumbing pipes and electrical wiring behind drywall.

Finish work listed is built into the price estimate of $250-$325 per square foot. This includes an allowance for above-average appliances (washer, dryer, refrigerator, dishwasher, stove/oven).

60,000 are chronically unhoused in California alone.

Panel Tek improves on emergency housing. Current suppliers build uninsulated sheds that do not lock and lack basic amenities beyond a bed. 

There are 580K homeless in the US and approximately 59.1M displaced worldwide (not including the millions displaced by the war in Ukraine).

The US also now has more than 80 tiny-home villages. This trend will likely grow, and Panel Tek is the ideal supplier for the future of more affordable, environmentally-friendly housing.

We'll begin with ADUs in California.

We'll begin with ADUs because:

1. California state laws now encourage ADUs to meet the housing crisis and have streamlined the permit process. Land and utilities are already in place for homeowners, which also speeds up the process of new building.

2. California had a 3.5 million housing unit shortage before the pandemic and that has only increased. Los Angeles alone issued 44,000 ADU permits in only six months during 2019-2021. Only 12,000 are finished due to the high cost of construction. That leaves 32,000 opportunities for Panel Tek in this one market.

3. More permits will be issued every year, increasing the backlog of demand.

4. More cities are following ​​San Jose and Los Angeles and are dedicating staff in their planning departments for ADUs. They have a pre-approval process for homes kits like Panel Tek's.

5. Panel Tek kits will be pre-approved in ​​San Jose, Los Angeles and other cities that have pre-approved lists for walk-in, over-the-counter permitting once we complete seismic testing.

6. Cities will market Panel Tek when we're included on their online ADU pre-approved list. Property owners will go with companies that have the government's rubber stamp.

7. We will offer commissions to real estate agents, contractors, and developers who will get bulk discounts.

Easy Order + Delivery + Build:

1. Place an order and finance it on our website (we are working with a bank to facilitate adding a construction loan to a mortgage).

2. Decide whether you’ll be an owner-builder or will hire a contractor. Two people with low-to-moderate skills can assemble the exterior walls and roof in approximately 6 hours with basic tools. A contractor can do it in 4 hours. If you’ve ever tried to assemble a simple Ikea bookshelf, you’ll know why we recommend hiring a contractor!

3. Print the plans from our website. We’ll create a specific site plan within 24 hours of your kit order. Get an over-the-counter permit in one day in a pre-approved city.

4. Homes can be built on a flat concrete slab, over a basement or a crawl space. Hire a contractor to build your base. 

5. Six weeks later, your kit will arrive.

6. No crane is needed. You can unload each 36 to 50-pound panels, and assemble the walls and roof.

7. Hire installers/subcontractors for:

Windows, plumbing, electrical, lighting, cabinetry, drywall, painting. Drywall is recommended but not required. Panels can be painted, but it’s least expensive to place plumbing pipes and electrical wiring behind drywall.

High cost construction causes homeowners to abandon ADUs plans. Our Homes Are Larger, Better, AND Cost Less. 

Panel Tek homes:

• cost 15% less per square foot than the closest competitor.

• look like a site-built home owners will be proud of, not like a mobile home. 

• do not require a crane to lift into place.

• have a strong steel skin. Most companies that make structural insulated panels (SIPs) and manufacture prefab homes use OSB skin (pressed wood strands and adhesives) instead of metal.

• use snap-lock technology that creates a wall with no insulation gaps for increased energy efficiency up to (R46).

Our projections are conservative.

Abodu is our top competitor. Their structures are made of traditional wood framing, which are less environmentally sustainable. They look like a prefab rather than a traditional home, and must be lifted with a crane onto a property. They cost $25K more ($206K) for a unit that is 33% smaller than our 512 sf home. Their turnaround time is good at 5 weeks. Their base price also includes interiors complete. We plan to add that feature in 2023.

Boxabl manufactures a folding ADU kit that includes walls and roof and can be set up as quickly as our unit, but requires a crane to reach backyards and to assemble. Their 350 sf system equivalent to ours costs $200K and is 31% smaller.

Prefab ADU builds factory built prefabricated units. Their unit equivalent to our 1-bedroom is 390 sf and costs $225,000 (24% smaller). Their base price includes interiors complete. 

Mighty Small Homes provides a site-built OSB style SIPS unit similar to Studio Shed. Their kits start at $25,000 for 256sf (our 288 is $31,450) and are significantly more difficult to assemble than ours. Their final build cost can range from 30-50% more than ours.

Crate Modular uses shipping containers to build ADUs that cost $210,000 for a 40’X10’. These require a building pad and a crane for delivery. A turnkey unit averages 40% more than ours.

Studio Shed provides kits for small studio units that are made from OSB SIPS panels that weigh roughly 10x as much as our panels. Their kit equivalent price to our 1-bedroom: $250,000 and require much more onsite finishing then our ADU Kits.

12 months after launch, begin Series A to Expand manufacturing capacity.

When sales reach 1,400 kits per year, we will need to expand manufacturing capacity. We estimate EBIDA will be $20 million and it will take 2.5 years to reach that point from launch in September, 2022. We’re already working with our existing panel supplier to enter into a partnership with us to scale with the growth of Panel Tek.

12 months after launch, we'll begin Series A fundraising with a valuation of $60 million to finance the expansion of manufacturing capacity. We’ll need to raise $5 - 10 million to help our existing panel supplier expand. (not guaranteed)

Investors will benefit from our years of dedication and experience.

Kurt Overmeyer's decades of work in urban planning and development has led him to co-found and lead Panel Tek. Kurt has worked with housing developers on numerous multi-family projects and understands how to develop for the future: denser, affordable housing that will meet the growing need for housing in the US. His knowledge in technical aspects such as zoning, lot splits, building codes, and designing for community acceptance will all come into play as Panel Tek becomes the choice of larger-scale developers, as well as homeowners seeking single-family residences and ADUs.

Kurt was a key player in developing the proposed Seaside General Plan Update, the Campus Town Project, the Ascent project, and many others. He has BAs in Anthropology and Political Economics from Indiana University, and a Master’s in Public Administration from the University of Alabama. He is also an expert in branding and retail economics.

Rick and Beth Cartell are retiring but will be instrumental in oversight and the maintenance of high quality standards in their areas of expertise: Rick in design, construction and panel technology, and Beth in marketing and sales. Both have put decades of effort into developing the product that will be marketed today.

The housing shortage is increasing.

Our homes can help reverse the tide.

Supply ≠ Demand.

1. There’s insufficient housing supply in markets where demand is high(California is building 50% of needed housing. Source: Cal. Dept. of Housing & Community Development, 2018)

2. The cost of housing is unaffordable for many. ADU Home building now costs as much as $600/sf on average in California (includes finish work, flooring, paint, appliances). A 500 sf studio would cost about $300K for permits & construction. Our 500 sf studio can cost less than $165K.

3. Home construction has not changed all that much in 100 years. Panel Tek is revolutionizing home building. 

4. How? Costs are 1/2 less and order-to-build time is 6 weeks for a home that surpasses the quality of most homes. 

5. California needs to build 3.5 million homes by 2025. The state is creating fewer than 100,000 units per year of market rate housing and fewer than 20,000 units of affordable housing. Many teachers can no longer live in the communities where they work. Source: McKinsey Global Institute, 2016.

Invest to solve one of our nation's most vexing problems.

We conservatively estimate returns at 20X, but we expect returns to be higher. We are confident we have a product line that fills a massive market need, a qualified team, and a strategy that maintains low overhead and scales gradually with growth.