HomeUnion’s Steve Hovland was interviewed during the evening drive on Dec. 6 by The Jon Sanchez show. The hosts of the Wall Street and business radio program discussed our innovative investment platform, shared our firm’s philosophy, and how that informs our process of helping busy professionals acquire residential real estate. They delved into how, using big data and local market experience, we find and manage real estate remotely on behalf of our investors. Finally, they discussed our customer demographics, and were surprised to find that they range from baby boomers to wealthy millennial tech entrepreneurs.
Below is a partial transcript of the interview. To listen to the entire show, visit The Jon Sanchez Show.
Jon Sanchez: It’s a complete turnkey program? Explain from start to finish how the (HomeUnion) program works?
Steve Hovland: We are the only firm in our space of our size that offers a complete end-to-end solution. We use big data, and look at 110,000 million homes in 200,000 neighborhoods, and we rate those neighborhoods based on 11 different criteria: white-collar jobs, school ratings, that type of thing; we are looking at the demographics. Then, we identify properties for investors; we are looking at price and rents.
We look at the price and rent to see if it makes sense for our investors. And then we have infrastructure on the ground – people in every market – that actually go look at the property and look at the comps. So we have add that personal touch. Then we put the property on our portal, and offer it to our investors. HomeUnion offers lending; we go through the whole closing profess with them; and we manage the property through the whole life cycle. When the investor wants to sell it, we sell it on our platform at a discount.
Sanchez: What I found fascinating about your website is when you are ready to sell, as you emphasize in your video, you are able to market that property to your network of current HomeUnion investors without having to go outside to the public.
Hovland: What’s great about our system is this: Traditional homebuyers are different people who are looking at different things. An investor buying a property wants to maximize rents whereas the size of the master bedroom closet becomes an issue for a traditional homebuyer, so it’s much easier to sell a rental property to another investor.
Sanchez: Anytime you incorporate technology into real estate, everyone in this room gets excited, and it’s great to see how the industry is progressing.