Roofstock Continues Market Expansion with Investment Homes in Las Vegas
Addition of Las Vegas market supports continuing growth
Oakland, CA – October 6, 2016 – Roofstock ™, the first dedicated online marketplace for investing in leased single-family rental (SFR) homes, today announced its expansion into the Las Vegas metropolitan area.
Launched in March with an exclusive, curated inventory of certified, cash flowing rental homes in Florida, the Roofstock marketplace represents an entirely new, more efficient way to buy and sell investment homes. For sellers, properties can be sold without having to wait until tenants move out, avoiding the lost income while marketing a vacant home and the significant selling costs associated with traditional channels. For buyers, Roofstock offers a proprietary inventory of leased, certified, professionally managed homes that generate immediate cash flow and future home price appreciation potential. Homes can be virtually toured and purchased on-line, without the buyer having to be in the same geography, leveraging the extensive property diligence available pre-purchase. Las Vegas is one of many key markets where Roofstock is expanding into, such as North Carolina most recently and Atlanta, Miami and Southern California. Other markets are expected to be added in the future as well.
“Las Vegas is one of the more intriguing single-family rental markets in the country with median home values still 35 percent below their prior peak value,” said Gary Beasley, Roofstock’s CEO and co-founder. “Roofstock’s Marketplace is carefully curated to allow people to transact with assurance; our team of experts researches each market and certifies each home, tenant and partner before adding it to our marketplace. We even provide buyers with a 30-day money-back guarantee if they are unsatisfied with any property they buy on the Marketplace.”
The SFR sector is now worth $2 trillion and growing. One in 10 U.S. households rent a single-family home today, and rents have begun to rise sharply as the economy improves, according to the latest Fair Market Rents set by the U.S. Department of Housing and Urban Development. Rents for homes with three bedrooms, for example – which represent a large segment of rental houses – grew 3.4 percent in 2016. That’s up from 2.2 percent in 2015 and 1.0 percent in 2014.
SFR industry pioneers Gary Beasley, Gregor Watson, Rich Ford and Devin Wade launched Roofstock this past March on the belief that investing in SFR properties should be as easy and transparent as investing in the stock market.
Beasley is the former CEO of Waypoint Homes and co-CEO of public SFR REIT Starwood Waypoint Residential Trust. Watson is the founder of SFR investment firm 643 Capital Management. Ford, as managing director at Jefferies, was widely regarded as one of the leading investment bankers in the SFR industry. Wade is a payments and secure processing serial entrepreneur.
Roofstock is the first online marketplace and community created exclusively for investing in leased single-family rental homes that generate cash flow day one. Created by investors for investors, Roofstock provides research, analytics and insights to evaluate and purchase independently certified properties at prices that reflect both market and property conditions. From viewing the homes and their diligence documents to analyzing potential returns and selecting one of our certified local property managers, Roofstock’s mission is to make real estate investing stock market simple. Roofstock headquarters are in the San Francisco Bay Area. Whether you’re looking to make your first rental property investment or building a property portfolio, make your next investment today at roofstock.com.
Senior Communications Manager, Roofstock