Hi Wefunder community,
Buying an investment property remotely is no easy task, but I'm fired up by what Doorvest has accomplished so far and excited for what's ahead.
We’re now in 5 markets! In addition to Dallas and Houston, in 2022, we expanded into 3 new affordable and ultra-stable markets with a steady increase in property valuation: Atlanta, San Antonio, and recently, Oklahoma City (OKC).
OKC is our latest acquisition for many reasons. To name a few:
- According to Zillow, home values in Oklahoma state are up 12% year-over-year, while OKC grew by 14% but remains highly affordable.
- Population growth is at 1.07% annually and has grown over 14% since 2010 as people moved to larger metro areas for work.
- Oklahoma's real estate tax rate is 0.90%, ranking in the country's lower half.
Many homeowners in OKC prefer to pocket list their homes where a home sale is kept private and off the MLS. Because of this, Doorvest is well-positioned to find deals and share these exclusive opportunities with our customers.
Our mission is to advance financial security for all by simplifying real estate investing. To this goal, we have lowered our refundable deposit price of $1000. Now, for $100, we will source and curate exclusive homes for investors to purchase.
Our team has successfully navigated the challenges within a competitive housing market, and our progress is apparent. Almost 70% of Doorvest customers are first time home buyers, and the process is so simple that over 11% of customers have returned for more homes. Additionally, many customers have seen home appreciation of over $20,000 since buying under a year ago!
As of this article, we're a 50+ person team, 5x'ing our headcount since last year. Additionally, being born out of a pandemic, we are fully equipped to play offense and provide customers with more stability in their investments and income streams, and ultimately, build an increasingly bigger business.
Thank you for joining us on this whirlwind journey towards advancing financial security for all. If you or any of your friends would like to purchase a home, let us be a partner and guide you through this process. Submit a deposit here, and we’ll start sourcing homes for you!
With gratitude,
Andrew Luong, Co-founder & CEO