Expanding Ownership
As the largest asset class in the world, real estate has been both a hallmark of the American dream and a primary path to building wealth. But for younger generations, that opportunity is increasingly out of reach. The average home price in the US has increased 39% in the last two years, and the real cost of ownership has increased about 50% in the last six months alone. On the backdrop of rising interest rates, high rents, and a widening wealth gap, it’s time to create a new model for real estate ownership.
To tackle the problem of affordability and accessibility, we’re focusing on a subset of real estate that has always been the most out of reach: vacation homes.
Owning this class of real estate, in the best markets in the US, used to be something that only the 1% could afford to do. With Getaway, this asset class is finally a viable option for everyday investors. They can own a fractional share of a Getaway property starting at $1,000, earn monthly cash flow from rental income with one of the most powerful asset classes out there. With high inflation and volatile public markets, access to private assets like real estate give the opportunity to diversify investment portfolios with longer term assets.
We also believe that ownership is about more than a dollar amount - it’s about a lifestyle. It’s about experiencing these properties first hand and the fun (and pride) that comes with that. By investing you become a Getaway Member, giving you VIP access to stay at Getaway properties at member-only discounted rates. We also give members a front-row seat to our property management strategy so they can see what it takes to invest in and manage properties – without doing any of the heavy lifting. We believe the Getaway experience, from owning to enjoying, will give the next generation of investors the support and confidence they deserve when it comes to real estate ownership.
Our Fundraise
We’re also thrilled to announce that Getaway has raised a total of $5.9M in total seed funding in a round led by Jillian Williams and Aileen Lee at Cowboy Ventures joined by Chauncey Hamilton at XYZ Ventures, Ben Matthews at Night Ventures, and a fantastic group of fintech, consumer, and real estate angel investors.
We are honored to have the support of these talented investors and operators, and we are even more excited that they share Getaway’s mission to create a new generation of investors by making real estate investing fun, approachable, and accessible.
