3 ms·
Opendoor raises Series D, has 100s of MM of debt to buy more houses
- disposablezero 10y agoHigh-value, illiquid inventory and double-ended marketplace with flakey demand: doesn't sound inherently scalable and risk mitigation seems absent. Good luck with that.
- yoloswagins 10y agoIt's house flipping; deskilled, and at scale. With hedge funds turning to single family homes, it's only a matter of time until a startup got involved. Looking at their jobs page, they're expanding to Atlanta and Dallas.
- cylinder 10y agoA real estate agency can't find enough customers to use its model -- so it just buys properties to sell, with debt. Bubblelicious!
- eli_gottlieb 10y agoThis sounds both stupid and evil. It will be nice when the bad business model crashes and Opendoor is forced to sell off the houses cheaply to those of us with actual savings.