Simply Homes Secures Funding to Propel Affordable Housing Solutions Across the Midwest

Simply Homes Secures Funding to Tackle Affordable Housing Crisis

Simply Homes, a proponent of addressing the affordable housing crisis, has successfully raised funds in a round led by Gutter Capital and Watchung Capital.

Noteworthy participation came from Village Global, Ambush Capital, RavenOne Ventures, along with individual backers such as Neil Parikh, Gabe Flateman, Luke Sherwin, and others.

Expansion Plans and Real Estate Focus:

The funds acquired by Simply Homes are earmarked for expanding its operations and venturing into real estate acquisitions.

This strategic move aligns with the company’s mission to alleviate the affordable housing crisis by revitalizing stagnant housing stock.

Automated SFR Sourcing and Underwriting:

Under the leadership of Founder and CEO Brian Bagdasarian and CFO Robert Kavanagh, Simply Homes operates an automated Single-Family Rental (SFR) sourcing and underwriting platform.

This innovative approach utilizes proprietary Machine Learning (ML) and Artificial Intelligence (AI) technologies to identify, value, and acquire stagnant housing stock.

The ultimate goal is to make these properties available for families eligible for HUD’s Housing Choice Voucher program.

Rapid Growth and Impactful Portfolio:

Since purchasing its first house in January of the current year, Simply Homes has experienced remarkable growth, closing on its 50th home in early November.

By the year’s end, the company anticipates having nearly 100 units in its portfolio.

Active in Pittsburgh and Cleveland, Simply Homes is poised to expand into additional markets across the Midwest in 2024, aiming to enhance social and economic mobility by providing housing stability to families in need.

AI-Powered Virtual Analysts:

In an effort to further streamline its operations, Simply Homes is developing a series of AI-powered virtual analysts.

These tools are designed to rapidly interpret vast amounts of data, facilitating the company’s decision-making processes for acquisitions.

This technological advancement showcases the company’s commitment to leveraging cutting-edge solutions for addressing housing challenges.

Funding and Impact:

The backing from prominent investors underscores the industry’s recognition of Simply Homes’ innovative approach to affordable housing.

The expansion into new markets and the development of AI-powered tools position the company as a frontrunner in reshaping the real estate landscape for social and economic benefit.

Conclusion:

In conclusion, Simply Homes’ successful funding round marks a significant milestone in its mission to combat the affordable housing crisis.

With a focus on leveraging technology and expanding its reach, the company is poised to make a meaningful impact on housing stability and economic mobility in the communities it serves.