Episode 125: Revolutionizing Rental Investing Through Technology with Johnny Wolff

The number of people in their 20’s who are living with roommates have more than doubled on a percentage basis over the last 30 years.

As a result, people are going on Craigslist or Facebook marketplace to find rooms or roommates. But without a reliable background check, this process can be a major safety concern.

What if there was a more elegant way to fine-tune the process and put technology on top of it to elevate the rental investing and home sharing process to a whole new-level?

Brian Charlesworth joins Johnny Wolff, CEO and Founder of HomeRoom, as he shares how he started his company, the failures he encountered along the way, and how the lessons he learned from his experience has driven him to be more committed than ever to his mission.

 

Top Takeaways:

(02:48) How HomeRoom was born
(04:33) What does it take for real estate agents to stay in the game?
(06:15) The first near-death blow that HomeRoon faced
(10:30) How HomeRoom survived COVID
(14:28) How technology helped set their company apart from their competitors
(17:27) What is HomeRoom doing on the marketing side
(19:52) How the current market situation has affected their business
(23:44) One of Johnny’s main motivation
(25:42) The seven steps to finding a home room
(33:33) Johnny’s advice for someone starting or growing a business

Connect with Johnny Wolff

Website: https://livehomeroom.com/

LinkedIn: https://www.linkedin.com/in/johnnywolff

About the guest:

 

Johnny Wolff started his career in real estate investing  in Silicon Valley ten years ago. In 2015, he was working at a bank, and realized that San Francisco real estate prices were going to be out of his reach for a long time. So he moved to Austin and started to invest heavily in real estate.

He quickly bought a number of properties and rented out each of those homes by the bedroom. It was his first taste of property management. One positive thing he got out from that experience, other than learning real estate, is that when he shared his returns to his friends back in the Bay Area, they were really jealous. So much so that they wanted to invest themselves.

In 2018, Johnny moved to Kansas City. He started buying other homes, renting them by the room, and also offering it to other investors. Thus HomeRoom was born.

Today, Johnny Wolff is the CEO and Founder of HomeRoom,  a Y Combinator-backed residential real estate marketplace that simplifies remote investing and streamlines affordable renting. Our marketplace connects rental property investors seeking a turnkey experience, with renters seeking quality and affordable coliving housing.

Johnny is also an official member of the Forbes Business Council.