We are in the business of real estate and real estate solutions for investors and we firmly believe that Redi and its proprietary solutions open up real estate investing to a broader market. Real estate has been the gateway to wealth for many in America, and across the globe, and we want to help those that have an interest in researching, acquiring and managing real estate through technology development.
Recently we had a meeting in Silicon Valley where we discussed real estate in the area (in case you are have been living under a rock we’ll share with you that it’s off the charts expensive…the current median home price in Palo Alto is $2.5M). We know the reason, we’ve read all the articles and some of us have experienced the tech boom of Silicon Valley first hand. In our discussion about the tech boom and startup phenomena of the area one thing that surfaced, that we at Redi found particularly interesting, is that the bulk of wealth that has been made in Silicon Valley in recent years comes from those who own real estate, not from the multitude of companies that are located in this outrageously expensive area. It could be a real estate bubble, in fact the market is seeing softer times right now… but the fact remains that more wealth has been created by real estate.
At Redi we see this from two vantage points. First, hooray, you don’t have to be an entrepreneur or coding genius to participate in the wealth being created in Silicon Valley and beyond. It validates the continuance of a long history of wealth coming from real estate as an asset class. Second, it makes us think of all of the individuals in the area that are working hard, many of them making a tremendous amount of income but still are not willing or able to plunk down a 20%+ down payment on a $2.5M 1970’s tract home. What are those individuals to do? Our Redi Match product is a technology built for both groups of people. The later of which may not be willing to move but want to invest in real estate and buy a house…they just may not make it their home. Discovering a house to buy outside of where you live is challenging. Unless you are intimately familiar with an area and have connections in that area it’s very difficult to gather enough data to get you to a comfort level to pull the trigger and buy a property.
It’s risky, right? Who are these people that are willing to take that kind of risk? To broadly categorize these risk takers they are those that willing, those that are able and those that are forced. The first are those that are willing, it’s in their DNA so to speak. The second are ‘able’. What we mean by able is that they probably have a safety net of some sort. They are able to take what someone from the outside perceives as a risk but for them they really aren’t risking much. Lastly those that are forced to take a risk…there are simply no other foreseeable options. Those categories of risk takers can be applied to just about anything in life but at Redi, we aim to take some of the risk out of real estate investing. We are bringing to light some of the pathways to making real estate investing accessible to more. After all it’s long been said that the “American dream” is to own a house. Again, this house just may not be your home. Whether it be your first real estate purchase and you are buying a rental because it makes financial sense or because you live in an area that is vastly overinflated or it is your second, third (or beyond) real estate purchase because you love real estate, want diversification in your investments or are looking for an annuity-like income stream.
Let’s take a quick look at how seasoned real estate investors find properties now. For those that are portfolio investors (whether they function as individuals, corporations or the like) they have contracted agents, brokers or employees that help them find properties. They pay these individuals and groups to travel around, conduct due diligence and complete transactions. This is not accessible for those of us who are looking for our first investment property or for those of us looking to expand beyond our first real estate investment. If you aren’t a real estate mogul…yet….how do you get in the game? Is it focusing on neighborhoods we know, locations near family or places we’ve visited. At Redi we strongly believe that if we can provide more data and intelligence on buying, tax, financial and management strategies we can open up this potential wealth expansion opportunity to a much broader audience. The tax strategies and acquisitions intelligence that has been reserved for what we would call the uber wealthy or the top 1% is something we intend to open up as an opportunity for you.
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