OAKLAND, Calif., May 05, 2022 (GLOBE NEWSWIRE) -- Mynd, the company transforming how single-family residential (SFR) real estate investors find, finance, lease, manage, and sell single-family rental properties, today announced its expansion into three new fast-growing markets: Jacksonville, Indianapolis and Nashville. The Bay Area-based company now operates in 25 markets across the country, up from 20 at this time last year.
Co-founded by real estate industry veteran Doug Brien, Mynd enables both retail and institutional investors to purchase SFR properties across the U.S. 100 percent remotely, easing the process of buying and managing rental homes and removing geographic barriers typically associated with being a property owner.
“As we expand our national footprint, we’re focused on identifying markets that have strong, long-term appreciation potential and attractive current yields for our customers,” said Brien. “Jacksonville, Indianapolis and Nashville all have strong job markets, are seeing home prices appreciate, and are experiencing robust demand for rental properties, while still offering good value and affordable entry points for remote investors.”
Powered by a proprietary, all-in-one digital platform and local listing and property management experts, Mynd simplifies the entire investment journey for both first-time and veteran investors, allowing more Americans access to the single-family residential sector as a way to build generational wealth.
“Our mission at Mynd is to make investing in single-family residential properties accessible to as many people as possible,” Brien adds. “Expanding into Jacksonville, Indianapolis, and Nashville furthers that vision by diversifying opportunities for investors located in these high-value, burgeoning cities, as well as remote investors nationwide.”
In 2021, venture capital firm QED led a $57.3 million investment round in Mynd, and financial management giant Invesco led a $40 million round. Invesco also committed up to $5 billion to facilitate the purchase of up to 20,000 single-family rental homes in the next three years. This funding fueled Mynd’s exponential growth over the last year — the company now manages more than 11,600 homes, up from fewer than 7,000 in April 2021. With the launch of these new markets, Mynd expects to have more than 4,000 homes across Nashville, Indianapolis, and Jacksonville under management by 2023.
Mynd used the investment funding for significant enhancements to its technology platform, grew its team from less than 500 at the start of 2021 to 825 today, and opened a new sales headquarters in Tempe, Arizona at the end of 2021. The company expects to more than double its revenue by the end of this year.
To learn more about how Mynd is democratizing access to sustainable real estate investing, visit www.mynd.co.
About Mynd
Mynd is a tech-enabled real estate company serving the $85B+ property management and real estate investment market. Mynd is on a mission to democratize access to happy homes and sustainable investments by making the purchase of single-family residential real estate as effortless as other types of investments.
Mynd is the first and only end-to-end real estate platform that helps investors — from first-time homebuyers to global financial institutions — find, purchase, finance, insure, lease, manage, and sell single-family rental properties 100 percent remotely. With operations in 25 markets across the U.S. and real-time insights via its proprietary digital platform, Mynd removes the time, communication, and geographic barriers traditionally associated with buying real estate.
Mynd is Best Places to Work certified and a Built In SF Best Places to Work 2022 winner, and was named the #1 fastest-growing East Bay company by the San Francisco Business Times in 2021. The company has attracted talent from Starwood Waypoint Homes, the New York Times, McKinsey, BCG, Compass, Better, One Medical, Zillow, Upwork, WeWork, and Facebook. Mynd is backed by top VCs, including Lightspeed, Canaan, Jackson Square, and QED, and recently announced a $5 billion deal with Invesco Real Estate, making Mynd the largest buyer of single-family rental homes in the country.
Media Contacts:
Andrea Zinn, andrea.zinn@mynd.co
LaunchSquad, mynd@launchsquad.com
