real estate investment from fun dries aiming to break down
the barriers to the real estate investment market by allowing
people to invest in real estate across the US Without
having to buy property and with as little as just
$10. Well, the company says there are 1.2
million users on the platform and that it has more
than$2.4 billion under management. So joining me now
is Ben Miller, co founder and Ceo of Fun
Rise. Ben, it's good to see you,
So talk to me a bit more about your platform
, how it works and how it's allowing users to
invest in real estate with as little as$10.
So fun dries is a way to invest in real
estate, the way you buy a stock online or
a book on amazon before Sunrise, you couldn't buy
real estate the way professionals do. You had to
be a large institution or a super high net worth
investor. And now because of our technology, Sunrise
made it possible to invest for as little as$10
. It's pretty impressive here. I know you got
some new funding, you're looking to expand and so
what else is in the works? Well, so
we, What's happening right now is the stock market
is down 20 or 30%. Kryptos down 60 or
70%. And fun dries real estate up 3-5%.
So what's happening is that real estate real assets are
vastly outperforming the financial markets and people are starting to
see why you diversify into real estate. So we're
seeing huge demand for investors from our, from our
investors, we've been buying about a billion dollars in
real estate so far this year to really expanding.
And I think that this market is waking people up
to why you would want to invest in real estate
. Especially now with interest rates up. So much
. So clearly we see a lot of interest in
the housing market of late. We're starting to see
the housing market cool a little bit better. And
as interest rates start to rise, how does that
impact your company? Well, so yeah, interest
rates have doubled and that means housing is much less
affordable and what happens when housing is not affordable to
buy? People decided to rent. So we own
the sunrise investors own something like 20,000 apartments and housing
units across the sunbelt. What we're seeing is rents
are up because people who were going to buy instead
are renting, so that's driving up rents driving up
demand. And really that's one of the main reasons
that in a recession, real estate, such a
good asset shelter is a basic need. And it
picks up inflation. So as a result, our
rents are up and the stock market's down well in
terms of markets that seem hot right now, I'm
just curious the pulse that you have on the real
estate market as we start to see if it's even
a potential recession, then people start to pull back
a little bit. Yeah, I mean, I'm
expecting a recession that my expectation is the Federal Reserve
Will will raise rates into September and that will put
rates around where they are today, which is five
or 6%. And then they're going to stop before
the election. They're not going to want to keep
raising rates ahead of the election and come november after
the election. That's really going to be the moment
. Where do we see if inflation is come down
or not and if it hasn't come down rates going
to go back up, we're going to go into
recession and if rates basically do basically inflation does come
down, then we might be behind the worst of
it behind us. And that's basically the open question
. But I think our real estate at least housing
in the Sun Belt, people are moving there,
it's really affordable, there's a lot of migration,
a lot of job growth and work from home.
And so we have sort of good tail winds and
for most circumstances. All right, we got to
leave it there. Ben Miller, co founder and
Ceo of Sunrise. Ben, thanks so much for
coming on the show