Home365 Launches in Chicago: Guaranteed Net Operating Income Model Allows Investors to Acquire Investment Properties with Consistent, Passive Returns
Home365, a creator of the OneRate real estate investing platform that guarantees Net Operating Income (NOI) of rental property investments, today announced expansion into the Chicago market. Home365 also announced the acquisition of Paper Street Realty, a leading management company of more than 500 units in the Chicago DMA. The acquisition creates the first Chicago-owned end-to-end PropTech platform, offering a purchasing and management model that mitigates the risk of ownership, repairs, vacancy and leasing for Chicago-area investors.
Home365 offers a PropTech industry-first cloud platform for investors that uses sophisticated data analysis and AI modeling to create a unique insurance-like NOI guarantee. The core product for real estate investors, OneRate, covers operating expenses such as management, leasing, maintenance repairs and vacancy, ensuring a steady passive income. Home365's end-to-end tech platform includes a cloud interface and mobile app that lowers management burdens for owners while improving the resident experience with seamless repairs and management interactions. The company's efforts to democratize real estate continues to grow - with more than $1.5B in investment assets across 7,000 properties in 17 cities and plans to add multiple aditional metro areas by the end of this year.
"The vision is to combine Paper Street's local employees, knowledge of Chicago rental property rules, and passion for its tenants and owners with Home365's funding, centralized resources, and technology, creating a market shifting real estate and property management company," said Bruce Spagnola, co-owner of Paper Street Realty. "We believe coupling Home365's robust software and technology with our team's vast expertise in real estate will benefit owners, vendors, and our tenants and provide consistent performance for portfolio investors."
In addition to its patent pending NOI guarantee, Home365 also provides extensive investor resources regarding the acquisition of investment properties and financing, while automating all other labor-intensive operations such as identifying qualified tenants, conducting credit, background and rental history checks.
"Our OneRate program has attracted a strong response from investors allowing us to rapidly expand across the U.S. and this style of real estate investment is a perfect fit for Chicago," said Daniel Shaked, founder and CEO of Home365. "While Wall Street investing has been made more accessible by apps like Robinhood, real estate investing has remained out of reach to all but the most sophisticated, resourceful and tenacious investors. REITs and local management companies offer some amount of access, but until now, the full benefits have not effectively been brought to bear for individual home and rental real estate investors. We have reimagined real estate investment opportunities and property management services for millions of investors and are delighted to be serving Chicago."
Based in Silicon Valley with an R&D center in Tel-Aviv, Israel, and an operations hub in Lancaster, PA, Home365 makes real estate investment in single family and small multifamily for the small to medium investor profitable, predictable and hassle free. Analyzing and underwriting more than 40 data points such as property age, size and location Home365 provides investors with an affordable performance guarantee and a one-stop option that handles all aspects of property ownership including management, vacancy, day-to-day maintenance and operational costs. Visit https://www.home365.co