Meet the Real Estate Tech Entrepreneur: Nik Shah from Home LLC
This week, we interviewed Nik Shah from Home LLC.
Let’s get to it!
Who are you and what do you do?
I’m Nik Shah, the Founder & CEO of Home.LLC.
We provide down payment assistance so people can buy their home. In exchange, we share a part of the gain (or loss) on those homes.
What problem does your product/service solve?
Millions of people already earn enough income to pay a mortgage but don’t have savings to reach 20% down. Instead of throwing away money towards rent, we provide down payment assistance up to $500,000 so they can buy a home & start building wealth.
By getting our debt-free investment, people save thousands of dollars by borrowing only 80% from the bank (down from 90%-98%), avoiding mortgage insurance, and potentially getting a better interest rate as well. Plus, they get a partner to share their losses if their market crashes!
For more info, I encourage you to check out our website!
What are you most excited about right now?
Overall, I’m excited for our Goldilocks economy as we enter the roaring 20s
While it was heart wrenching to see the stock market crash in 2020, it was also a relief to see how home prices were insulated as they have been in the last 100’s of years (except 2008).
In 2021 and beyond, I am excited for people that use programs like ours to start building wealth. I’m also beyond excited for institutional investors that use us to park long-term capital in real estate.
What’s next for you?
By 2050, we will help 1 million American families buy their home and start building wealth.
Specifically, we want to focus on hard-working minorities, single parents, and immigrants as they deserve an equal shot at the American dream.
What’s a cause you’re passionate about and why?
My wife and I are planning to go to at 62 US National Parks. We’ve been to 40% of them so far and absolutely love them.
Also, during the lockdown, I rediscovered my love for Chess. I’ve been playing a lot of online chess recently and keep learning it with the hope of being decent at it someday…
Thanks to Nik for sharing his story. If you’d like to connect, find him on LinkedIn here.
We’re constantly looking for great real estate tech entrepreneurs to feature. If that’s you, please read this post — then drop us a line (Community @ geekestate dot com).