Read the FAQ in full.
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How is the value of each property determined?
Written by Tucker McKay
Updated over a week ago
Estimates are based upon a combination of third-party automated valuation models and in-house underwriting to establish a range for the potential resale value of a specific property. The automated valuation models use algorithms to review all of the properties sold within a specific distance of the subject property to pinpoint a potential sales price of properties with similar specifications. The valuations team takes into account the renovated condition of the home as it compares to comparable sales in similar areas/neighborhoods to determine a more subjective analysis of each property.
Since Here has acquired and renovated/upgraded (in many cases) the properties, sites such as Zillow may or may not have estimates that most accurately reflect the actual home condition. General renovation guidelines for the homes are new paint, flooring in new or good condition, updated appliances, and specific attention to the major systems, such as roofs and HVACs, where preventative maintenance or replacement is completed if necessary.
Anyone who provides an investment vehicle for passive investors and claims the word Zillow anywhere associated with the word valuation is a complete joke.
Also.. they claim to strive to hold each property for 10-15 years while also making sure the fine print says this..
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At Here, we also believe that long-term wealth is created from long-term investments. With this in mind, Here does not offer investors individual liquidity for their property shares during our investment period.
And I couldn't find their fee structure anywhere.
So go for it. Give them your money and watch as they overvalue the property, undervalue tax and insurance appreciation, rely on automation for an active management industry, and deliver you fractions of the returns they claim.
Groups like this come around a lot now. They go this route because they can't raise enough money the traditional way. This gives them runway to fresh equity. They will get rich far faster than you will. And most likely, you won't.
Full Speed Ahead - Fire At Will - Gig'em
"I have never enjoyed any position more than being president of Texas A&M University." Robert Gates 11/08/06
