Nuurez raises $ 1.1 million in crowdfunding campaign
United States: Nuurez, a new generation supplier of alternative residential real estate solutions, raised over $ 1.1 million for its real estate system with a crowdfunding campaign slated to end on March 15.
To date, the company has 1,154 active investors and an endorsement from Kevin Harrington of Shark Tank.
Nuurez allows investors to list properties owned and rented on short-term rental sites such as Airbnb, without the process of buying properties and managing tenants. Unlike Airbnb’s business model – which cooperates with short-term travel rather than extended stays – Nuurez combines the millennial preference for rentals with options for short- and long-term travelers’ stays.
A rental property on Nuurez can be listed on many travel booking sites, allowing the renter to earn income without owning the property. It also works with its investors, named Affiliate Investors, to provide their homes and shared properties.
Nuurez will manage these properties and prioritize leasing them in order to generate income for affiliate investors.
Non-management investors will receive 60 percent of the quarterly profits distributed by the company. Distributions will begin at the end of the second quarter of 2021 and will continue on a quarterly basis, while Affiliate Investors will be paid monthly for income earned in the previous month.
Nuurez Founder Noelle Randall said: “Nuurez is a new generation real estate company. Our main goal is short term rentals.
“We acquire properties by buying them, leasing them and / or controlling properties that we can start to generate cash flow. The company is well-funded and acquires properties – from small garden apartments to multi-family homes and motels – on a large scale.
“We already have properties in Florida, Georgia, Texas and across the United States as part of this new venture,” she added.