Opendoor Loses Billions | BK Coming
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0:00 – Intro
1:46 – 1.4 Billion In Losses
5:51 – The Problem With Flipping
7:19 – Opendoor Claims
9:08 – Opendoor Purchasing
11:28 – Conclusion

Data Source:
#1https://www.realtrends.com/articles/opendoor-loses-1-4-billion-in-2022/
#2 https://www.businessinsider.com/?
#3 https://www.mikedp.com/articles/2023/2/14/opendoor-slows-home-acquisitions-amid-strategic-shift

#housingmarketcrash #realestate #housingmarket

Travis Spencer
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Travis Spencer
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Chamath Palihapitiya’s SPAC Social Capital Hedosophia II will acquire Opendoor, an online marketplace for buying and selling houses. Palihapitiya joins “Squawk Box” to discuss his vision for the deal. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi

Chamath Palihapitiya pioneered taking private unicorns public by reverse merging them into special purpose acquisition companies — an idea he’s called “IPO 2.0.”

After his first iteration of doing so last year with space-tourism company Virgin Galactic, he’s found his next target: Opendoor, an online marketplace for buying and selling houses.

“These guys are my next 10x idea,” Palihapitiya said in an interview with CNBC, noting the prospect of generating returns worth 10 times the original investment.

The investment, announced Tuesday, amounts to more than $1 billion. Opendoor will receive $414 million from the capital generated from the April initial public offering of his SPAC, Social Capital Hedosophia II. Additionally, a group of investors, including Palihapitiya and funds managed by BlackRock, agreed to infuse another $600 million through a PIPE, or a private investment in public equity.

The deal values Opendoor at $4.8 billion — nearly equal to its 2019 revenue. The company’s earlier investors include General Atlantic, SoftBank’s Vision Fund and Lennar Corp.

“This is one of many milestones towards our mission and will help us accelerate the path towards building the digital one-stop-shop to move,” Eric Wu, who founded Opendoor six years ago, said in a statement. Wu will continue to lead the company, while Adam Bain, former chief operating officer at Twitter and director at Social Capital Hedosophia II, will join the board after the transaction is completed.

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Opendoor stock has been rising lately along with all other real estate services companies. Investors need to take a step back first and look at what exposure they’re getting from an investment in OPEN stock. It’s not a property tech firm, it’s more like a property management firm. You see, Opendoor acquires homes which then sit on their balance sheet until they’re sold for a profit. With gross margins of 10% during good times, there isn’t a lot of buffer for when the property market sees a downturn. Last quarter saw gross margins of 5% which might be further squeezed if the bottom falls out of the residential property market. How many people are keen to buy a new house when mortgage rates exceed 7%? We find Opendoor stock to be way too risky for our tastes, even if they were a SaaS model with no exposure to property process. Want exposure to residential properties in America? Invest in REITs instead.

RESEARCH PIECES USED IN THIS VIDEO:
1. Using Blockchain for Commercial Real Estate
https://www.nanalyze.com/2020/01/blockchain-commercial-real-estate/
2. How to Get Into Commercial Real Estate Investing
https://www.nanalyze.com/2020/04/how-to-get-into-commercial-real-estate-investing/

CHAPTERS:
Intro
Real estate services companies rise
Opendoor’s last earnings report
Opendoor’s business model
Covenants, debt, and leverage
What will home prices do?
The Opendoor turnaround story
Opendoor cheerleaders
Conclusion

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DISCLAIMER: Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, along with independently researching and verifying, any information contained within our YouTube videos or on our website, whether for the purpose of making an investment or otherwise.

#opendoor
#open
$open
#realestateinvesting

Real estate is the trillion dollar industry that is lying in plain sight. Last year the space had 15 IPOs, and over $32 billion invested. Today we’re talking with Brendan Wallace, one of the founders of one of the largest real estate venture firms in the world. He’s going to take us through what the future of this incredible industry looks like.

https://www.fifthwall.com
https://twitter.com/fifthwallvc
https://www.youtube.com/c/FifthWall/videos

00:00 The future of real estate
01:34 Home buying is broken
02:38 Opendoor marketplace
03:17 Fifth Wall Investments
04:20 Real estate tech’s potential
06:52 Follow Fifth Wall!

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