Yahoo Finance Awning Emerges from Stealth with $9.3M To Help Investors Achieve Financial Independence With Single Family Real Estate Investing
Technology and brokerage platform built exclusively for real estate investors works with local agents and surfaces attractive single family investment properties in key markets nationwide
San Francisco, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Awning, a technology platform and brokerage built exclusively for real estate investing, emerges from stealth today with $9.3 million in funding led by Global Founders Capital. The round also includes participation from MassMutual Ventures and several strategic angel investors including Side co-founders Guy Gal and Ed Wu, SafeGraph founder Auren Hoffman, Scale founder Lucy Guo, Opendoor’s Former VP of Analytics Peter Fishman, Lightspeed Ventures Partner Justin Overdorff, and other Silicon Valley executives.
With owners of single-family rental homes seeing 12-20% annualized returns over the last 20 years, the opportunity to buy a home as an investment and rent it can rival more traditional financial instruments and provide recurring cash flow. But most local real estate agents do not specialize in investment properties and they lack the tools to find the right opportunities and access critical financial data like OpEx & Cap Rates.
Awning uses machine learning and data analytics to surface the best single-family rental properties for investors in popular markets across the country, with estimated monthly rental income and long-term ROI. Each Awning customer is paired with one of Awning’s full-time agents who acts as an advisor to determine their investment strategy, review properties that meet their requirements, and close deals quickly and confidently. Awning can also help investors secure financing and connect buyers with vetted property managers to oversee their properties and manage rentals and day-to-day maintenance.
“Investing in single-family rental properties has become one of the best ways for individuals to control their financial future, but there are few resources designed to help individual investors, ” said Shri Ganeshram, CEO and co-founder of Awning. “Especially as individual rental real estate markets become more competitive, first-time investors need more help getting started. Our analytics and advisory services provide detailed information about rental income, taxes, expected repairs, cap rates, and more. Our goal is to give novice and experienced investors alike the opportunity to build long-term financial security by investing in single-family rental properties.”
Since opening in beta at the end of May this year, Awning has helped individuals living across the country purchase nearly $5M in real estate. The Awning web portal is open to investors from across the United States and Canada and currently connects buyers with listings in California and Texas, with Florida coming soon. Awning will continue to add inventory in new markets in the coming months. For more information on Awning’s technology and brokerage platform, please visit Awning.com.
About Awning
Awning is the world’s first technology platform and brokerage built exclusively for individuals to invest in single-family rental properties, on a mission to make investing in real estate simple and accessible for everyone. Co-founded in 2019 by Shri Ganeshram and Danaus Chang, Awning pairs world-class data analytics with a team of expert advisors to help every individual investor identify, evaluate and close on single-family rental properties that meet their investment goals across nationwide markets. In 2021, Awning announced a $9.3 million seed funding round led by Global Founders Capital.
CONTACT: Rally Point PR for Awning Rally Point Public Relations 212.882.1690 awning@rallypoint.pr
