Tangent

Housing Crisis | It's Not a Mortgage, It's Not Renting, It's Acre, with Acre Homes CEO & Co-founder Mike Schneider

09.12.2023 - By Edward Cohen, Jeff Berman & Zach AaronsPlay

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Mike Schneider is the CEO & Co-founder of Acre Homes. Acre combines the ease of renting with the financial upside of owning. Acre is available in Raleigh-Durham, and will be launching in Atlanta and Nashville soon. Previously, Mike served as the VP of Technology Strategy at RE/MAX, and Co-founded First, a real estate tech company that leveraged machine learning to help agents win more business. (2:12) - Acre: Breaking the Renting or Home Mortgage paradigm (7:13) - Acre's model during variable interest rate environment (8:59) - Opportunity residents & investors (10:19) - Market growth (10:54) - Taking the Tesla approach: 10x better than mortgage (12:48) - Buying a home with a partner (15:28) - Acre Homes price point (16:47) - Feature: Blueprint  (17:52) - Rent-to-own, buy before you sell, Home Equity products. (21:41) - Challenges of mortgages & bias in home appraisals (25:07) - Generating returns in Single family homes (25:42) - North Carolina ecosystem: Raleigh-Durham Research Triangle (29:51) - US cities transport options (33:26) - Collaboration Superpower: Steve Jobs (38:57) - Discomfort Zone: Is Built-to-rent overrated?

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