Doorvest

Ninety percent of the world’s millionaires attribute their wealth to real-estate investing.

Doorvest is aiming to create more millionaires.

This real-estate startup simplifies the process of buying and owning an affordable, high-yield investment property. For less than $50,000, users can own a rental home that yields six percent annually. They can also build equity and enjoy many tax advantages.

Doorvest is backed by M13 (a venture-capital fund that invested early in Lyft, Snapchat, and Ring) and Mucker Capital. Other notable investors include founders and executives from Wealthfront, Opendoor (a billion-dollar real-estate company), and Invitation Homes (the largest owner of single-family rentals in America with a nineteen-billion-dollar market cap).

Launched in April 2020, Doorvest experienced 10x growth in 2021. And in 2023, the company became cash-flow positive. Seventy percent of Doorvest users are first-time homeowners, and nearly one in five have already purchased a second home.

Team Background

Andrew Luong - Co-Founder & CEO

Andrew is a real-estate investor and business-development expert.

Prior to starting Doorvest, he was a principal at NextGen Capital Ventures, an investment fund targeting single- and multi-family rental homes across the U.S. Before that, he was a partnerships manager with Human Interest, a financial-services company focused on retirement planning.

Earlier in his career, he helped to grow tech companies including Misfit (acquired), Gengo (acquired), and Indeed.com.

He studied finance at the University of San Francisco.

Justin Kasad - Co-Founder & CTO

Justin is a software developer who’s worked at multiple companies that were acquired.

Most recently, he was a software engineer with Healthline Media, a company publishing health-related news that was acquired. Before that, he was an engineer with HealthTap, a mobile health/wellness app.

Earlier, Justin co-founded 3rd Note, a company developing software and mobile products. Prior to that, he was an engineer with Chegg, a company providing textbooks to college students. He began his career as co-founder of Swaapr, a social network for college students to swap textbooks (acquired by Chegg).

He earned a degree in Computer Science from UC Santa Barbara.

Co-Investors