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The three-bedroom, two-bath, split-level house in Fayetteville, Arkansas, looks like a perfect family home. It’s got a charming brick exterior, a lush, green front lawn, and a fenced-in backyard perfect for hosting cookouts. It’s on a quiet street with two schools and a Boys and Girls Club nearby. But this perfect family home has an unusual owner—or owners.
The property, which these days is known as the Soapstone, is “owned,” in a roundabout way, by 102 investors who have collectively purchased just over $100,000 in shares through a company called Arrived Homes. The property is managed and rented out for $1,600 a month, a bit below the city’s average rent of $1,795. Investors, who can buy in for as little as $100, get a cut of the profits.
And it’s not just the Soapstone. Arrived, alongside a handful of other so-called fractional investment startups, are adding yet more noise to an already-crowded real estate market. Investors can buy into hundreds of similar properties on the company’s website, where each listing has an Airbnb-style profile that breaks down the neighborhood, costs, number of bedrooms and bathrooms—and return on investment.
In addition to Arrived, there’s Lofty AI, which uses a token model for people to buy in and lets them collect rent later that same day. Another company, reAlpha, sells shares in homes that serve as Airbnbs—including a treehouse resort in the works. Landa lets people invest in shares valued as low as $5 in houses around Atlanta or $20 in Brooklyn apartment buildings. Daniella Lang, a product marketer at the firm, says investors “see this as an American dream opportunity” that lets them build wealth in real estate. Anyone can click a button to invest—but that doesn’t really make them homeowners.
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Illustration: Andriy Onufriyenko/Getty Images
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