Gary has spent most of his career building businesses in the real estate, hospitality, and tech sectors. Immediately before Roofstock, Gary was co-CEO of Starwood Waypoint Residential Trust (NYSE: SWAY), one of the leading Single-Family Rental companies in the US.
Gary founded Roofstock on the belief that the Single-Family Rental sector has stuck to the old way of doing things for far too long – it’s an industry ripe for disruption.
Roofstock is the first online marketplace created exclusively for investing in leased Single-Family Rental homes that generate cash flow day one. Created by investors for investors, Roofstock provides research, analytics, and insights to evaluate and purchase independently certified properties.
Roofstock turns the old way of investing on its head, bringing transparency and efficiency to create a better way to transact. Buyers access vetted homes with current cash flow. Sellers market homes without lost income or disrupting tenants. Neighborhoods avoid signs in yards which could depress values. It’s win-win all around.
The most revolutionary aspect of the Roofstock marketplace is enabling investors to treat their real estate investments more like stock portfolios, focusing on asset allocation, rather than dealing with the hassles of researching and buying vacant homes that need to be repaired and leased.
[1:42] What Roofstock is
[4:35] The reality of the single-family rental home investor
[7:10] Where Roofstock’s inventory comes from
[10:00] The 3D Rendering Roofstock does of each home in their inventory, and what benefit it creates
[12:15] Who is there in the walk through for the property and how sellers don’t have to pay for a lot of things they usually do
[15:35] The number of transactions Roofstock has been able to do in their first 18 months
[18:45] How the buying process works
[22:00] The investment fund Roofstock recently released (and who is managing it)
[25:00] Why Roofstock has properties in high end areas with RTVs below 1%
[27:30] How the valuations of the property are done
[30:10] What Roofstock does to find and certify property managers, and why investing close to where you live is an outdated idea