Mynd Property Management Acquires HomeUnion, a Real Estate Investing Portal
Summary
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. 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 HomeUnions 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 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.