Former Airbnb Exec Launches New Real Estate Disrupter
NEW YORK, March 26, 2019 /PRNewswire/ -- Stefan Schimenes, a serial entrepreneur with a passion for reinvigorating static industries with technology, has launched InvestReal- a data-driven real estate marketplace. InvestReal connects developers looking to raise capital for Opportunity Zone projects with investors.
Enacted as part of the Tax Cuts and Jobs Act of 2017, the Opportunity Zone Program was created to drive long-term capital investment into historically underserved communities. The zone designation across 8,700+ eligible census tracts in the US is intended to spur lasting economic growth and job creation. Investors can roll capital gains into a Qualified Opportunity Zone fund to defer tax obligations until 2026, reduce their tax liability from 10% to 15% (on a step-up in basis), and even have accrued gains from their new investment to grow tax free if it is held for at least 10 years.
With the emergence of Opportunity Zone legislation, Schimenes saw a gap in the market - an influx of new people looking to invest to take advantage of incredible tax incentives, many that don't have real estate portfolios or developer relationships, and developers eager to access this newly available capital. InvestReal was born as a marketplace to connect these two parties. The platform also has a robust data analytics component, and utilizes machine learning to help users with research and informed decision making.
Schimenes is no stranger to the concept of disrupting real estate through online marketplaces. As a former Airbnb exec, he was responsible for successfully building out the hospitality giant's business in Latin America. "Technology is a powerful tool that we can leverage to make real estate more efficient. Whether that is done through bringing people together, or harnessing machine learning to compile and analyze critical data sets, the possibilities are limitless," says Schimenes
To learn more about InvestReal or to sign up, visit www.investreal.com.
About InvestReal: InvestReal is a data-driven real estate marketplace connecting investors with developers in Qualified Opportunity Zone projects, supported by artificial intelligence. Our platform allows accredited investors to evaluate listed QOZ projects with standardized and transparent metrics, and invest at the project level with the developer partner to mitigate the inefficiency of blind pool funds and crowdfunding models.
If you would like more information about this topic, please contact Niamh Delaney at [email protected]
Niamh Delaney, Head of Marketing
InvestReal
[email protected]
SOURCE InvestReal
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