Real estate marketplace Roofstock says it has surpassed $1.6 billion in transactions in just three years.
Roofstock is a Fintech marketplace that allows investors to participate in single-family investment properties. The number of individual investors increased by 126% during 2018, according to the platform. 75% of Roofstock users are first time investors with one-third of the investors planning to invest over $100,000.
Roofstock reports that the majority of listed properties sell in 15 days or less.
The crowdfunding platform services accredited investors who may participate with as little as $5000.00. The platform currently services four markets: Atlanta, Dallas, Houston, and Indianapolis. The marketplace generates passive returns for real estate investors.
Last month, Roofstock announced their “Academy” to help educate potential investors and encourage them to build up a single family rental portfolio.
Gary Beasley, CEO and Co-Founder of Roofstock, said they have built Roofstock to democratize real estate investing and this will remain the core pillar of our mission.
“Real estate can be a powerful avenue to build wealth, but the asset class is still not a mainstream choice for the everyday investor. Roofstock is leveling the playing field for investors, minimizing the hassles of traditional real estate ownership, and driving greater accessibility.”
Roofstack is backed by investors including Khosla Ventures, Lightspeed Venture Partners, Bain Capital Ventures, and Canvas Ventures.