Mynd Property Management, a modern property management company powered by on-the-ground experts and technology, has acquired HomeUnion, a company that enables investing in small residential properties in 20 U.S. markets. The acquisition comes on the heels of Mynd’s recent merger with RentVest, which doubled Mynd’s property management footprint to more than 8,000 small residential rental units in a total of 16 markets.
One of HomeUnion’s major accomplishments was the development of INVESTimate, an online home valuation tool that allows users to determine the investment potential of any home in the U.S. INVESTimate takes into account a variety of factors, including supply and demand trends, metro-level employment and neighborhood quality using AI and machine learning.
“Adding HomeUnion’s capabilities to the Mynd platform solidifies our position as a leader in the small residential real estate investment business,” says Doug Brien, CEO and Co-Founder of Mynd Property Management. “Property management is a fundamental aspect of executing a successful investment. However, picking the right property in the right market for the right price at the right time – is also crucial. We saw this very clearly at our last company, Waypoint Homes. We look forward to leveraging our investment experience and HomeUnion’s data and tools to help our investors grow their portfolios,” he notes.
HomeUnion’s ability to identify small residential properties that meet the financial strategies of a variety of investors is appealing to Colin Wiel, Mynd’s Co-Founder, Chairman and CTO. “We are excited to be able to serve our base of over 2,000 customers by leveraging HomeUnion’s AI-driven approach of scouring hundreds of thousands of for-sale homes to find the ones that will perform as the best rental properties,” says Wiel.
The acquisition aligns with Mynd’s long-term goals of becoming a full-service real estate investment solution in the top 50 most investable markets in the U.S., and managing 1 million units. Real estate investors will have the ability to purchase off-market and MLS rental properties in metro areas with strong employment growth, without the traditional geographic barriers that come with real estate investing.
“We are pleased to be part of the Mynd team,” says Don Ganguly, President of HomeUnion. “Investors who purchase SFR homes through the new Mynd platform also gain access to the company’s high-caliber property management services and proprietary local operating data, thereby making investing accessible to a greater number of investors.”
About Mynd Property Management
Mynd Property Management is a modern property management firm serving the small residential sector. Based in Oakland, Calif., the company’s team of on-the-ground property management professionals and technology boost net operating income (NOI) for property owners, while improving the rental experience for residents. Currently, Mynd has over 8,000 units under management in 16 markets nationwide. The firm plans to expand its platform in 2019 to provide real estate investors with access to income-generating properties in markets with strong employment and rental growth.
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