Homesurfer is an interesting concept that allows people to delve into home investment from the comfort of their own homes. But does the service deliver? Keep reading our Homesurfer review to find out.
Using any connected device, interested parties can invest as little as $100 (or as much as they desire) to own a share of a diversified portfolio of single-family homes distributed across the cities they choose.
But, is this soon-to-be-unveiled real estate investing platform worth your time and money?
Check out our Homesurfer review so you can learn the ins and outs of this new platform before it premiers.
Homesurfer Review: Overview
Homesurfer is an upcoming home investing platform that will be launching in 2022.
The platform allows people to own a share in diversified portfolios of single-family homes in various cities across the U.S.
Some of the cities where interested buyers can do their home investing include but are not limited to:
Atlanta, Austin, Charlotte, Dallas, Denver, Indianapolis, Las Vegas, Memphis, Miami, Orlando, Phoenix, Salt Lake City, San Antonio, Tampa Bay, and Tucson.
In advance of the expected launch of the site in 2022, Homesurfer is pre-registering interest from potential app users looking to use its features.
Through a waitlist, members will get to indicate their investment interest through the Homesurfer app, get real estate investing information and prioritize Homesurfer launch in the city of their choice.
Waitlist members will also gain early access to the services through their android tablet or the latest version of OS.
Many technologies, including tablets, smartphones, and PCs, can access the service.
Once Homesurfer launches, users will get app access and will be able to see real-time data on the various home-owning companies that Homesurfer manages.
Homesurfer offers $25 in account credit for every user referral that invests at least $1,000 in the service upon launch as an additional incentive.
This is done once the user has opened their Homesurfer account after their turn on the waitlist has arrived.
How Does Homesurfer Work?
With Homesurfer, users can get access to investing across a wide range of single-family homes after indicating which city or cities they prefer to invest in.
Through these home investments, users can earn passive income while creating wealth via home price appreciation.
Once Homesurfer receives regulatory clearance, it will manage a series of companies that (directly and through its partners) will select, inspect and purchase homes in selected locations.
It will use a combination of mortgage loans and user funds invested in the companies to purchase those homes.
From there, Homesurfer will:
Renovate homes to institutional-quality specifications ,rent homes to qualified residents, and perform maintenance and services for homes and their residents.
Once you sign up, Homesurfer professionals will manage the homes and your investment on your behalf.
All you do is invest, and Homesurfer takes care of the heavy lifting.
Is Homesurfer Legit?
Like with other new websites, only time will tell how legit the service becomes.
However, as mentioned, Homesurfer is working on regulatory approvals by the Securities Exchange Commission before its launch and it intends to have its products registered with the SEC.
Who Can Use Homesurfer to Invest?
Essentially, anyone who wants to diversify their investment portfolio with exposure to residential single-family real estate can use Homesurfer.
Real estate has been the single largest wealth accumulator in the history of the United States and Homesurfer aims to allow any retail investor the opportunity to get in on the market.
The website will offer investors the ability to purchase shares of a portfolio of homes to maximize their return on investment.
Investing a lot of money in one home leads to concentrated risk with potential long-term vacancies and significant repairs leading to significant cash outflows, meaning you could suffer financial repercussions.
Homesurfer mitigates those risks by spreading the investments across a diverse portfolio, minimizing concentration risks, and potentially yielding a much better ROI for investors.
Homesurfer was designed to improve accessibility to the home investing market for people who either cannot afford a full down payment on a home or don’t have the time to manage rental properties.
Anyone willing to invest in a share of a diverse portfolio of homes within a specified city can earn their proportional benefit of rental income and price appreciation.
How Is Homesurfer Different than Other Real Estate Investing Platforms?
Homesurfer differs from other investment platforms, in part, because of the minimum investment required to get started.
Users can invest as little as $100 into a portfolio that’s exclusively comprised of single-family homes in a U.S. metropolitan area.
So, you can have a limited budget and start small or go with a more substantial investment amount.
And, as mentioned, Homesurfer takes over the management responsibilities, as its goal is to get the best return on investment for investors.
How Much Does Homesurfer Cost?
Homesurfer does not intend to charge an upfront commission, nor are there any hidden fees.
After receiving approval from regulatory authorities, Homesurfer will earn an annual management fee from each company it manages based on the total value of the assets under management (effectively the purchased homes).
The companies will pay the management fee from the rental income that is made, preventing Homesurfer users from paying for the fee directly out of their investment.
All costs will be transparent, and there is no cost to sign up.
Homesurfer Review: Pros and Cons
Although the service isn’t out yet, we did extensive research on its offers, and here are the pros and cons that we could confirm.
Minimum Investment – Homesurfer makes it convenient for anyone interested in diversifying their portfolio through real estate to do so without making a significant commitment.
The $100 minimum is manageable, and any adult in the U.S. can invest.
You can add to that investment every month or as far as your finances allow.
Accessibility – Users indicate their interest by entering an email on www.homesurfer.co, their desired investment amount ranging from $100 to $25,000, and choose the city where they’d like to do their home investing.
There aren’t many links, and time will tell what to expect from the website once it gains traction.
But, on first impressions, the website, app, and setup make it easy to use, whether on your PC or any device.
Waitlist – It’s unknown how long the waitlist for Homesurfer will be. Currently, there are just under 3,900 members on the waitlist.
In the meantime, there are opportunities to move up in the waitlist gain earlier access to Homesurfer, as well as earn account credit for referrals when it launches through the use of a custom referral link.
Is Homesurfer Right for Me?
Homesurfer is ideal if you’re interested in a long-term asset class that allows you to improve the quality of your portfolio.
The $100 fee is a reasonable minimum investment to get started, and regardless of where you are in the U.S., you can begin investing when Homesurfer launches.
Homesurfer Review: Final Thoughts
The early reviews for Homesurfer are promising, and the service could prove to be a great way to access real estate investment opportunities, not to mention an unbelievable bargain for users at some point.
Expect more details as we get closer to the New Year and once the platform gets clearance from the proper authorities.
But, on the surface, Homesurfer may be worth the wait.