Technology

Trading homes like stocks gets a $16M vote from investors

HomeUnion buys and manages single-family rental properties on behalf of investors
  • HomeUnion buys and manages single-family rental properties on behalf of investors.
  • HomeUnion's $16 million funding round comes on the heels of an announcement from Roofstock, a similar service, that it'd raised more than $13 million.

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Would you buy a rental property you've never seen? Investors are betting on it. HomeUnion, a company that aims to make buying single-family rental homes as easy as buying and selling stocks, has raised an additional $16 million in a Series B funding round, bringing its total funding to $23 million. HomeUnion finds properties it thinks will yield generous returns as single-family rentals, lets investors buy those properties from afar with the option to use financing facilitated by HomeUnion and handles rent collection and upkeep on investors’ behalf. The company previously said that it employed salaried real estate agents to find and bid on properties. Asked through email how many agents HomeUnion employs, the firm only said that, "we have boots on the ground in every market we operate and are licensed in every market we operate." HomeUnion says it cover 17 locations across the country. "HomeUnion has disrupted real estate investing by creating an end-to-end...