US: Nuurez, a next-generation provider of alternative residential real estate solutions, has raised more than $1.1 million for its real estate system with a crowdfunding campaign primed to close on 15 March.
To date, the company holds 1,154 active investors and an endorsement by Shark Tank’s Kevin Harrington.
Nuurez allows investors to list owned and rented properties on short-term rental sites such as Airbnb, without the process of buying properties and managing tenants. Unlike Airbnb’s business model – which cooperates with short-term travel rather than extended stays – Nuurez combines the millennial preference for renting with options for both short-term and extended traveler stays.
A rental property on Nuurez can be listed on many travel booking sites, allowing the renter to earn income without owning the property outright. It also works with its investors, named Affiliate Investors, to provide their homes and properties for home-sharing.
Nuurez will manage these properties and rent them with priority to generate income for the Affiliate Investors.
Non-management investors will receive 60 per cent of quarterly profits distributed by the company. Distributions will begin at the end of the second quarter of 2021 and continue on a quarterly basis, while affiliate investors are paid monthly for revenues earned the prior month.
Nuurez founder Noelle Randall said: “Nuurez is a next generation real estate company. Our main focus is short-term rentals.
“We are acquiring properties through buying them, leasing them, and / or controlled properties that we can start to cash flow. The company is well-funded and acquiring properties — from small garden apartments to multi-family homes, and motels — on a massive scale.
“We already have properties in Florida, Georgia, Texas and across the United States as a part of this new venture,” she added.