Miami Startup Launches Crowdfunding in Vacation Rentals
14.11.2023 - 12:05
/ Srividya Kalyanaraman
Miami startup Foothold.co has launched a real estate crowdfunding platform for investing in luxury vacation rentals.
Following SEC compliance and the finalization of its online investment processing platform, Foothold.co allows both accredited and non-accredited investors, starting from $200.
Foothold was founded in September 2022 after raising capital to invest in real estate for private investors, the company designed a crowdfunding platform to cater for accredited and non-accredited investors to invest online.
The company has announced availability starting November 8, including an investment opportunity in the “Patagonia Mirror Hotel” resort in Argentina. The company plans to extend its platform to local US investors in 2024, actively seeking partnerships with hospitality and glamping space developers.
According to its website, the company counts over 1200 investors and 21 units under development.
“Our long term vision is to create a solution to help real estate developers and architects in securing funding to turn their visions into reality. We collaborate with them to create unique short-term rentals with the potential to captivate Airbnb users,”said German Rimoldi, co-founder of Foothold.
Foothold’s concept isn’t new – fractional ownership of vacation rentals, especially in the luxury segment, have been gaining momentum.
In October last year, luxury vacation rental brand Wander launched what it called the industry’s first vacation rental REIT named “Atlas” — with an attempt to attract investors with high yield-passive income promising eight percent annual returns and 14 percent targeted total return.
Another Miami company Here.co offers a similar proposition: to allow everyone to invest in short-term and vacation rentals.
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