Opendoor bankruptcy or domination?
https://datadoor.io/articles/opendoor-q4-2022-download-volume-1 At a $1 Billion market cap today and with the lowest margins ever recorded, Opendoor is either: 1.) On a direct flight to bankruptcy over the next 12 months OR… 2.) They survive. Despite the odds, the macro, the ultra-challenging business model and the resounding din of gravedancing bears – allowing Opendoor to build a macro-resilient and high-margin RE marketplace to monopolize the largest undisrupted asset class I’m aware of.
Datadoor.io
Monopolize? What about Zillow, Redfin, etc? I know many people who were in the RE market in recent years and none of them used Opendoor
Why OD doesn’t offer hands free property management service, specifically for high NW folks who can’t do real estate investing due to living in HCOL (where ROI is too slim)? This types of startups lack solid innovation and bankruptcy is a desired destination.
If your NOI is low you got screwed over at the deal table on the price. Nobody should bail you out for being bad at negotiating
Agreed. My point was rather than buying-selling why OD didn’t buy using RE investor’s money and rent it out. OD basically could work as a middle man to connect RE investor to local property managers. Betting high on RE during 0% rate is nothing but a fool’s dream. OPEN hits $0.
Ask chamath
OpenDoor is trash. Their homes are cheaply “remodeled” and overpriced. I’ve seen like 5 and each was AWFUL. Redfin has an alternative means of revenue with some fort of ad-revenue based on traffic. Same with Zillow. OD should go bankrupt IMO.
This covid induced digital experience will go really far. Opendoor has the chance of coming out alive and making it one of the best companies in the stock market.
Paywalled