Doorvest

Doorvest, Inc. operates as a real estate investment platform, providing an end-to-end service for individuals to invest in single-family rental homes remotely. The company was co-founded by CEO Andrew Luong and CTO Justin Kasad. Their journey began while working in the tech industry, where they personally built a portfolio of over a dozen rental homes in five years to achieve long-term financial security. Recognizing the complexities and high barriers to entry for new investors, they established Doorvest in 2020 to simplify the investment process.

The company targets working professionals who wish to diversify their assets into real estate but lack the time or expertise for traditional property acquisition and management. Doorvest's business model involves identifying and purchasing properties in high-growth markets, managing renovations, and then selling the turnkey homes to investors. Revenue is generated through margins on these home sales and a recurring 10% property management fee based on collected rent. This fee structure incentivizes the company to keep properties occupied, as they do not charge for vacancies or tenant placement.

Doorvest's platform handles the entire investment lifecycle. After an investor specifies their criteria, the company sources and acquires a suitable property, oversees all necessary renovations to make it rent-ready, and places a qualified tenant. The investor then purchases the home, often with financing options facilitated by Doorvest's partners. Post-purchase, Doorvest manages the property for a mandatory one-year term, handling rent collection, maintenance, and tenant relations. Key service features include a renovation guarantee and a rental income guarantee for an initial period, which mitigates some risks for new landlords. The platform operates in several U.S. markets, including cities in Texas, Georgia, Oklahoma, Ohio, Tennessee, and Florida. Through strategic acquisitions like Wreno, an AI-powered property operations platform, Doorvest continues to vertically integrate its technology to enhance its service offerings for individual investors. Keywords: real estate investing, single-family rentals, turnkey properties, property management, passive income, financial security, proptech, remote investing, rental homes, investment platform, Andrew Luong, Justin Kasad, asset management, residential real estate, real estate technology, investment properties, out-of-state investing, cash flow properties, portfolio diversification, wealth building, property acquisition, renovation management, tenant placement, rent guarantee