Vacation Rental Investment Platform Fully Funds Over $2.2 Million Worth of Properties in Just One Day
The real estate investment platform Here is one of the newest companies in the fractional real estate space and is allowing investors to become fractional owners of short-term rental properties for $1 per share with a minimum investment of $100.
According to Here, vacation rentals generate up to 160% more revenue on average than traditional long-term rentals. This comes as no surprise considering Airbnb Inc (NASDAQ: ABNB) recently reported that the average daily rate on its platform is $164 and bookings were at an all-time high during the second quarter.
The platform has fully funded seven properties so far, including the latest three that were released on August 16, 2022, and fully funded a day later. The total offering amount of the three properties was $2,260,132.
Mendocino - A three-bedroom vacation rental in Galveston, TX, a market with an average daily rate of $395, an average occupancy rate of 73% and average monthly revenue of $6,951.00.
Tanglewood - A three-bedroom vacation rental with a mountain view in Georgia’s Blue Ridge. The market has an average daily rate of $487, an average occupancy rate of 79% and average monthly revenue of $7,006.00.
Hacienda - A 5-five-bedroom vacation rental sitting on about five acres in Santa Fe, NM. The market has an average daily rate of $1,112.00 for similar properties, an average occupancy rate of 85% and average monthly revenue of $27,971.00.
After funding closed on these three properties, Here announced its next offering – a four-bedroom home near the ocean in San Diego, CA. The market has an average daily rate of $687.00, an average occupancy rate of 88% and average monthly revenue of $8,230.00.
Find current offerings for short-term rentals, single-family rentals and commercial properties on Benzinga’s Real Estate Offering Screener.
Photo: Courtesy of Here
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