Real estate is one of the classic rags-to-riches stories and has been the source of wealth for some of the richest people on the planet. According to Forbes, 193 of the world’s current billionaires were created through real estate.
So it’s no surprise that Elon Musk may now be making his own play to get a piece of the residential real estate market by partnering with Lennar Corp. on building “Project Awesome,” a new residential area of 110 homes in Bastrop County, Texas, that could provide housing for employees of Musk-related companies.
The initial deal with Lennar calls for 110 houses, but it could be just the first of several projects between Musk and the homebuilder.
In April 2021, Musk tweeted that more housing was needed in parts of Texas.
“Urgent need to build more housing in greater Austin area!” Musk tweeted.
Musk has created several jobs in Texas between SpaceX, Tesla and The Boring Company and it appears that he may be taking matters into his own hands to address the state’s housing shortage – while generating a handsome return for himself.
So, How Can You Get In On The Action?
Less than two years ago, Amazon.com founder Jeff Bezos made his own play on the single-family housing market by investing in an innovative real estate startup’s $25 million seed round. The startup, Arrived Homes, was on a mission to make real estate ownership accessible to the average retail investor, and Bezos clearly saw the value in that mission.
Its business model, which has attracted over 100,000 investors so far, is straightforward: Arrived purchases single-family rentals in up-and-coming neighborhoods and grants its users the opportunity to buy shares of any individual property that gains their trust with a minimum investment of only $100. Investors then earn passive income through rent while their shares appreciate in value.
This business model makes it easy for investors to build a portfolio of income-generating properties in the highest-growth markets across the U.S. So far, investors have funded over 200 properties on the Arrived platform with a total value of more than $78 million. In Q4 2022, investors earned over $530k in rental income.
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Last year, Bezos made a second investment in the real estate platform shortly before the company launched a new asset class – short-term rentals. This means investors are now able to take advantage of the massive growth in the vacation rental market by purchasing shares of highly sought-after properties in markets with the highest and most consistent demand.
Investors in a short-term rental in Scottsdale, AZ, that was just launched on the platform in January are already generating massive cash flow. The property brought in over $25k from one booking during Super Bowl weekend and has already secured more than $64k in booking revenue for the year.
The bottom line is that people will always need a place to live and will always have the desire to travel, so it’s no surprise that some of the richest people in the world are making strong bets on single-family housing. You may want to consider joining them.
Click Here to Find Properties You Can Invest in With as Little as $100
