Redfin CEO, DoorDash co-founder invest in new startup building portal for Mexico real estate
A trio of Redfin alums are teaming up to launch a startup that focuses on buying and selling real estate in foreign markets.
Far Homes emerged from stealth mode Tuesday and announced it raised $2.25 million. The round was led by PSL Ventures, with participation from heavy-hitting angels including Redfin CEO Glenn Kelman and DoorDash co-founder Evan Moore, who was also the former vice president of product at Opendoor.
The Seattle-based startup has an online listings portal to buy and sell homes in Mexico, with plans to eventually expand to new market geographies. It teamed up with property management firms and real estate agents in the country to catalogue more than 230 properties available for purchase. The properties are mostly in vacation zones, ranging from beach-front mansions to single-bedroom condos. Prices vary from about $100,000 to $3.6 million.
These prices are cheap relative to the U.S. real estate market, Far Homes CEO and co-founder Chet Kittleson told GeekWire in an interview. This makes Mexico an attractive alternative market for investors, he said.
“It’s a totally different ballgame,” he added.