REAL ESTATE INVESTMENT, BUYING/SELLING
PRnewswire | March 30, 2023
Pacaso announced today the launch of a limited-time opportunity for accredited U.S. investors to invest in the category leading technology-enabled real estate marketplace that helps people buy and co-own a luxury second home. The new investment opportunity with Pacaso is a two year, 10% annualized promissory note backed by luxury real estate. Investors receive quarterly interest payments with a return of the principal at the end of the two year term. The fund aims to generate strong risk-adjusted financial returns for investors and provides Pacaso with flexibility to offer more attractive financing offers for second home buyers.
Investors benefit by earning consistent, passive income, diversifying their portfolio with luxury real estate, and enabling expanded financing options for Pacaso that help more people become second homeowners.
"Pacaso owners are the gold standard for consumer credit quality. This creates a win-win opportunity for investors to make consistent, passive income and future Pacaso homeowners to lock in seamless financing," said Pacaso CEO and Co-Founder Austin Allison. "This unique fund is a smart choice for people who want a low risk and low barrier of entry investment opportunity to diversify their portfolio by gaining exposure across high-quality, luxury real estate, which has proven to be one of the safest places to park money during uncertain times."
As the category leader of co-ownership of second homes, Pacaso has seen a tremendous response from high-net-worth buyers to the company's attractive integrated financing solutions on Pacaso listings and resales within the Pacaso marketplace. Pacaso is uniquely positioned for growth and second home demand has been off to a positive start in 2023. Deposits have increased 90% in the first two months of 2023, compared to the last two months of 2022.
Certain statements in this presentation may constitute "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding Pacaso's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "strive," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Pacaso does not give any assurance that Pacaso will achieve its expectations. Readers are cautioned not to put undue reliance on forward-looking statements, and Pacaso assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
About Pacaso
Pacaso® is a technology-enabled marketplace that modernizes real estate co-ownership to make second homes possible and enjoyable for more people. Pacaso curates luxury listings with premium amenities and high-end contemporary interior design, offers ⅛ to ½ ownership with integrated financing, and, after purchase, professionally manages the home and supports seamless resale. Co-founded by Austin Allison and Spencer Rascoff in 2020, Pacaso operates in 40 top second home destinations around the world. Pacaso has been certified as a Great Place to Work and is recognized as one of Glassdoor's 2022 Best Places to Work.
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REAL ESTATE TECHNOLOGY, INVESTMENTS
PRweb | April 19, 2023
REMLogics, LLC (REMLogics), a leader in modern, cloud-native real estate property management solutions, announced today that their commercial and residential suite of applications are now completely integrated to Intuit’s (NASDAQ: INTU) QuickBooks financial and accounting platform.
“We’re very excited to partner with small real estate property owners and operators to help them better serve their tenants and residents”, shared Donnie Law, CEO and Chief Software Architect at REMLogics. “These organizations can now immediately take advantage of the same modern technology platform and applications that medium to large real estate companies use to manage and grow their businesses.”
REMLogics is best known for providing an eco-system of modern, cloud-native real estate management applications that are built on the industry’s only enterprise no-code development platform. REMLogics clients benefit from robust applications that manage CRM, deal flow, properties, leases, tenants and residents, and billing.
“Our clients are confident their business is running on a modern technology platform that provides them with future-proof software investment protection. We architected our platform and applications to ensure that our clients could scale and grow their business years into the future and always be able to adopt new technologies as they come along.” Law said.
REMLogics is an open platform that can be integrated to other open systems through industry standard REST-based API endpoints. This enables their clients to take advantage of other proptech innovations, such as property marketing, smart building, smart device, utility monitoring, and property maintenance systems. The platform is also built with mobility in mind. All REMLogics applications can be accessed 24/7 from anywhere, at any time, and from any device.
About REMLogics
REMLogics is redefining real estate management for commercial and residential owners and operators. Clients benefit from a modern, cloud-native solution built on the industry’s only enterprise no-code development platform. REMLogics is designed for mobility and integration so clients can respond faster to the ever-changing technology and real estate landscape. Learn how you can drive innovation, embrace new technologies, outpace the competition, and future-proof your real estate management investment by visiting http://www.remlogics.net.
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REAL ESTATE INVESTMENT, MORTGAGE AND LENDING
PRnewswire | May 23, 2023
Rocket Mortgage, the nation's largest retail home lender and part of Rocket Companies (NYSE: RKT), today introduced ONE+, a new 1% down home loan program that will dramatically increase access to homeownership for millions of low-to-moderate-income earning Americans.
With ONE+, a homebuyer is only required to make a down payment of 1% of the purchase price and Rocket Mortgage will cover the remaining 2% needed to reach the required threshold for conventional loans. In addition to reducing upfront costs, ONE+ completely eliminates the expensive monthly mortgage insurance fee for the client – which is traditionally required if the buyer places less than 20% down on their purchase.
"Rocket Mortgage prides itself on finding innovative solutions and lending programs that help clients achieve their goals in any market cycle. No other lender has a mortgage option that makes affordable homeownership possible for as many Americans as ONE+," said Bob Walters, CEO of Rocket Mortgage. "We talk with people from all walks of life every single day – many of whom are ready to own a home, and could easily make the monthly mortgage payments, but are having trouble saving for a down payment. ONE+ is a response to that feedback and the latest example of Rocket's commitment to creating programs that help make homeownership more attainable."
Designed to help everyday Americans achieve homeownership, ONE+ is available to homebuyers purchasing single-family homes – including manufactured homes – whose income is equal to or less than 80% of their area median income (AMI). With this expansive AMI eligibility, Rocket Mortgage estimates that more than 90 million people can meet the income requirements for this program – based on publicly available income data.
As an example of the savings possible through ONE+, a homebuyer purchasing a $250,000 home typically needs a minimum of 3% down, or $7,500. Now, they will only need a $2,500 down payment. In addition, ONE+ offers mortgage insurance at no cost to the client, which on a $242,500 loan, can be as much as $245 per month. That improves a homeowner's monthly cash flow and can save as much as $20,500 over the first seven years after closing – the average amount of time mortgage insurance needs to be paid.
This is the third initiative Rocket Mortgage has launched in the last six months with affordability in mind. Other programs such as BorrowSmart Access and Purchase Plus focus on addressing challenges for homebuyers in underserved communities. By offering a $3,000 credit with BorrowSmart Access and a $7,500 credit with Purchase Plus, hurdles such as closing costs and down payments are lessened and accessibility is increased.
Homebuyers can apply for ONE+ using Rocket Mortgage's industry-leading digital mortgage experience at RocketOnePlus.com and on the Rocket Mortgage mobile app. They can also apply through one of the thousands of mortgage brokers across the country who partner with the lender through Rocket Pro TPO.
About Rocket Mortgage
Detroit-based Rocket Mortgage is one of the nation's largest home lenders, closing more mortgage volume than any other lender in 2022, and is a part of Rocket Companies (NYSE: RKT). The lender enables the American Dream of homeownership and financial freedom through its obsession with an industry-leading, digital-driven client experience. In late 2015, it introduced the first fully digital, completely online mortgage experience. Since its founding in 1985, Rocket Mortgage has closed more than $1.6 trillion of mortgage volume across all 50 states.
Rocket Mortgage is ranked highest in the country for client satisfaction in mortgage origination by J.D. Power. Combining the mortgage origination and servicing studies, Rocket Mortgage has earned 20 total accolades from J.D. Power – the most of any mortgage lender. Rocket Companies, Rocket Mortgage's parent company, ranked #11 on Fortune's list of the "100 Best Companies to Work For" in 2022 and has placed in the top third of the list for 20 consecutive years.
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