Here is a Miami-based platform that enables retail investors to buy fractional ownership of vacation rental homes with minimum investments as low as $100. The company acquires properties, readies them for short-term rental, lists shares at $1 per share, and pays quarterly dividends from rental profits; properties are held in LLCs and offerings are submitted to the SEC. Here uses a mixed equity-and-debt financing model for acquisitions, discloses financing and operating details in its offering circular, and typically retains a minimum 1% stake in each property. It charges 1%–10% sourcing fees on acquisitions and a 1% annual asset-management fee, and had listed three properties (Bear, CA; Clearwater, FL; Gatlinburg, TN) with a fourth coming soon. The company reported more than 30,000 registered users and about 1,000 active investors, and noted listings usually have 400–500 investment seats. Here planned to expand to 70–100 properties across roughly 20 vacation destinations and to build its own listing platform for members and the public. On January 4, 2024, Here announced it was shutting down services due to the current interest rate environment and economic conditions and said it would list all vacation rental properties it owns for sale and return proceeds to investors. Here operates a fractional vacation rental investment marketplace that securitizes properties into shares and enables investors to purchase fractional ownership without large down payments or credit checks. The company handles acquisition through ongoing property management, including bookings, cleanings, and upkeep, on behalf of members. Property shares start as low as $1 per share and each property has been securitized by the SEC. Members receive monthly income and potential property appreciation while remaining passive owners. The marketplace experience is curated into three steps: browse listings, select share quantities, and let Here manage the asset. Here is led by founder and CEO Corey Ashton Walters and includes industry veterans Caleb Olthoff (Head of Product) and Keith Breon (Head of Operations). The company announced a $2M pre-seed financing.

Total raised

$7M

Funding rounds

2

Latest round

Seed

Latest activity

Jul 2022