This new Miami startup has raised $2 million in pre-seed funding. Joe Montana is on the cap table

Are you ready to go from vacation rental enthusiast to vacation rental entrepreneur? Meet the newly formed Miami startup that will help you build the beginnings of your personal real estate empire.

This week, the Here vacation rental investment market has just been launched to the public. The Miami startup has raised $2 million in pre-seed funding to allow everyday investors to take advantage of short-term rental properties.

Users only have to part with a measly $100 to get started. They earn passive income through monthly booking revenue from their property, while also benefiting from potential appreciation of the property. According to Here, vacation rentals generate up to 160% more revenue on average than traditional long-term rentals.

In a statement, Here Founder and CEO Corey Ashton Walters outlined the company’s mission to make it easier for accredited and non-accredited investors to engage in the vacation rental market. “Real estate investing is broken – the hurdles to getting and managing rentals are too high and it’s only accessible to an elite,” he commented.

“We started Here because we believe everyone should have access to the same investment opportunities as the ultra-rich,” Walters continued. “Since our moment of enlightenment in 2020, we’ve been obsessed with making it easy for anyone to invest in vacation rentals.”

Corey Ashton Walters, CEO of Here

This message has already resonated with major investors. Here’s the cap chart featuring NFL Hall of Fame quarterback Joe Montana’s Liquid 2 Ventures, Mucker Capital, Bragiel Brothers, Alumni Ventures, Gaingels, and a handful of fintech executives.

The customer experience for investing in a Here home is much simpler than you might expect for a real estate transaction. Users begin by browsing the Here Marketplace to find available properties that match their investment criteria. Once they have selected a property, they determine the amount to invest, review the terms of the agreement and sign on the dotted (electronic) line. That’s it – from there, Here takes care of the day-to-day running of the property itself.

While the short-term rental market is valued at $1.8 trillion, this asset class has generally been dominated by wealthy investors or people with property management expertise. With Here, investors buy co-ownership in properties while avoiding the need for high down payments, credit checks, or property management experience.

Prior to founding Here This Year, Walters co-founded Homeworthy, a Seattle-based Pacific Northwest-focused all-remote real estate firm. The team here includes Caleb Olthoff, chief product officer and former vice president of technology at vacation rental platform Evolve, and Keith Breon, chief operating officer and founding team member of vacation rental management platform Vacasa vacation.

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