I am considering Opendoor senior offer and have a few questions if someone can chime in? 1. How is the engineering culture and wlb? 2. Will opendoor survive in the slowing housing market? Any possibility of layoffs? 3. What is the maximum TC senior swe can target? Can it cross 475k? I am yet to receive the final numbers. Blind Tax: Current TC: 350 YOE: 9 #opendoor #engineering
Bruh
Hi
Don’t do it.
They will lay you off when they get hit with another fine
This is a penny stock now. TC?! You gotta be kidding.
Not worth the risk if I get 40% higher tc? or better to interview and go somewhere else?
Too risky IMHO. That whole TC might evaporate in an instant.
I'm gonna leave this here for more info on why I'd avoid Opendoor: https://youtu.be/nXcz6CHDtwo
true, the economics are bad
OD has various other revenue streams per house besides the final sale price. Assuming they break even on the sale price but you use all the other services (services like title & escrow which you have to do on any real estate transaction or their home loans) then they are making a profit. That’s really the dream. You don’t realize how many hands are in that cookie jar taking 💰 after final closing costs etc.
You think people here have the vision to tell you what to do? Risk is there, so is potential return. If it’s the bet to make that only you can decide.
Downgrade
Yes, but a little tc bump
Opendoor is a great company. 1. Depends on team. Overall positive 2. Product is built to weather market downturn 3. Not sure
Hr spotted
The product is so not built to weather a market downturn. Opendoor makes most of its money on a spread but I highly doubt their models are good enough to account for an unknown macroeconomic environment. As a result, they need to increase their spread to reduce risk which just means fewer transactions and less revenue
OpenDoor was cool over the last few years but their business model just doesn't work in an uncertain real estate market. Their offers went from totally reasonable a year ago to ridiculously low now.
How logical is your statement? “Opendoor doesn’t pay me top $ for my house in this market. Their business model must be bad” 👌🏻👌🏻👌🏻
The trick of the OpenDoor business model is being able to offer market rate in a rising and stable market. People see that their OpenDoor offer is about the same Redfin, Zillow, realtors' estimates and so they think it is a great deal. Get the same amount they would have gotten with way less hassle. This can happen because OpenDoor is certain their house will be worth more when they sell it three months down the road. In an uncertain and likely declining market, they offer you less than those estimates because they think housing is going down.. and, under the current circumstances, they offer way less because there is a low probability chance that the bottom falls out of the market. So now people see them offering 20-25% below the third party estimates and are like screw that... and OpenDoor will now sell very few houses until the market is stable and rising again. Not a great model.
1. Engineering culture - Good to very good Wlb - team dependent. Expect to work 8 hours everyday. Can’t chill 2. Survive yes. Layoff- yes. 3. 430 seattle 470 SF (these are highest I have seen) with 9 YOE try staff. They give senior to 4-5 yoe. Good luck
Can you refer me to Opendoor?
LMAO
why
OpenDoor is a sinking ship.