Are you interested in real estate but have no clue about its working? Are you a busy working individual who is passionate about real estate and finance but does not have the time to be physically present? Then, it’s time to end the dilemma and start to work on your passion.
Doorvest is an entirely-online platform for owning income-producing private real estate. They empower individuals to unlock homeownership, passive income, and equity by simplifying the process of buying and managing an affordable, high-yield rental home. It also offers customers a Home Renovation Guarantee for all renovation-related repairs and maintenance on investment properties for one year in tandem with guaranteed resident placement for one year. To know more, check out the interview we prepared with Kris Nguyen, Marketing Lead at Doorvest.
What is the startup / product / venture about? Give us a brief description of it.
Doorvest is an entirely-online platform for owning income-producing private real estate. They empower individuals to unlock homeownership, passive income, and equity by simplifying the process of buying and managing an affordable, high-yield rental home. It is the only platform that provides complete transparency via a comprehensive breakdown of monthly cash flow, property activity, legal documents, and reports through an investor dashboard.
Doorvest enables customers to own a rental home and generate passive income without ever having to visit the home. Doorvest works with the individual to identify and understand their investing criteria, goes out and sources the home, renovates it, resells it outright to the customer making them 100% homeowners, then takes over long term operations.
Doorvest offers customers a Home Renovation Guarantee for all renovation-related repairs and maintenance on investment properties for one year in tandem with guaranteed resident placement for one year.
How many co-founders are there? Please introduce them and their backgrounds.
We have 2 founders. Andrew Luong, CEO – background in sales, tech, mortgage broker, and real estate investor & Justin Kasad CTO – software engineer, previously founded a company, Swaapr (acquired by Chegg)
How did you come up with the idea? What motivated you to do this?
Andrew Luong and Justin Kasad were compelled to start Doorvest in early 2020, at the start of the pandemic. The idea stemmed from the many conversations the two had with other friends and acquaintances who would often come to Andrew and Justin for advice on how to get started in real estate. With Andrew’s previous experience in real estate as an investor himself, coupled with Justin’s computer science background, the two got together to build Doorvest.
Who is your target market? Why do you think your product will appeal to them?
Busy working individuals who do not have the time to invest in real estate themselves. Our product appeals to these individuals because we make the process of buying real estate easy and entirely online.
Who are your competitors? How are you different from them?
401K or stock portfolio
What are the future plans with the product/startup? Any new features you are planning on?
We’re ramping up our selling arm through sell.doorvest.com & expanding into new geos – Dallas, San Antonio and Atlanta.