The investment signals strong support for the tech-powered short term rental housing market investment company
reAlpha, a cutting-edge technology company launching an innovative platform meant to empower everyone to invest in the $1.2 trillion short-term rental market, today announced it has closed on a $6 Million investment round. Crawford Hoying, a $1.3 billion real estate holding company in the Midwest, is the lead investor in this round.
Brent Crawford, the Founder and Principal of Crawford Hoying said, “reAlpha’s data-driven approach is a paradigm shift for the short-term rental investment market. The proprietary technology developed to identify, acquire, and market properties with lower risk is a big leap. We strongly believe in the team’s conviction and vision to scale this into a leader in this space.”
The new funding will accelerate reAlpha’s growth, including investment in its platform, data science function and engineering capabilities. Additionally, the proceeds will be used towards expanding its geographical presence, operations, and member network.
“reAlpha enables superior alpha yield by investing in short-term rental properties. We have simplified the entire process of investing and managing these properties using advanced technologies. This allows ‘Mainstreet’ investors to access the real estate investment market like never before,” said Giri Devanur, CEO of reAlpha.
As part of overall customer preference trends, the heightened desire for short-term rentals is changing hospitality and travel on a global scale. Because of this, a new wave of investment opportunities in real estate have emerged. reAlpha’s unique model allows consumers to benefit from both the superior returns of short-term rental income as well as the increase in property value through renovations and appreciating market conditions. Through reAlpha’s network, investors will be able to invest in vacation homes, democratizing access to the real estate market.
About reAlpha: reAlpha is a digital marketplace that enables its members to simplify wealth creation through investments in short-term rental housing market properties while delivering exceptional guest experiences. reAlpha sources and scores properties from the wholesale market using a proprietary AI driven algorithm called reAlphaBRAIN. It then predicts the viability of each property for the short-term rental housing market as well as the projected long-term value. The reAlpha platform allows investors to buy equity in specific properties, providing meaningful wealth generation opportunities through short-term passive income via Airbnb as well as equity-driven capital appreciation. reAlpha is based in Columbus, Ohio, and harnesses the power of talented teams in 13 countries across the globe.
About Crawford Hoying: Crawford Hoying is a full-service real estate development company, based in Dublin, Ohio. Concentrating in all aspects of acquisition, design, development, construction, management, as well as commercial and residential brokerage. In the past five years alone, they have developed more than $1.3 billion of mixed-use, multifamily, office, and retail properties. Crawford Hoying creates a sense of Place; focused on consumer needs from a commerce, culture, and community perspective. To learn more about Crawford Hoying, visit www.crawfordhoying.com
Originally appeared on Yahoo Finance.