Welker Properties Launches Prophet Homes and Announces New Investment Fund
Spearheaded by real estate industry veteran Andrew Welker, Prophet Homes is designed to revolutionize the real estate industry by connecting investors and sellers through an innovative marketplace.
DALLAS, April 9, 2024 /PRNewswire/ -- Welker Properties, a vertically integrated multifamily real estate development company, today announced its latest venture, Prophet Homes. Led by Andrew Welker, Prophet Homes is designed to revolutionize the real estate industry by connecting investors and sellers through an innovative marketplace. The new enterprise will also establish an investment fund that will purchase opportunities within Prophet Homes' ecosystem. The fund aims to raise over $100M from limited partners around the globe. Prophet Homes Co-Founder Max Alpert of Manhattan Beach, CA, who brings 12 years of experience to the enterprise, will serve as Chief Operating Officer of Prophet Homes.
Prophet Homes is ushering in a new era of accessibility and convenience in the real estate market by offering lucrative opportunities and access to "off market" homes for investors. The Prophet Homes Real Estate Marketplace simplifies the process of buying and selling homes ready for renovation through fix-and-flip and fix-and-rent models. Additionally, the company will utilize its acquisitions teams to supply inventory for investment funds and develop new sites in partnership with Welker Properties in Austin and Dallas-Fort Worth, with plans to expand across Texas and the Sunbelt states later in 2024.
With real estate commissions expected to fall up to 50% for agents this year, Prophet Homes is also an alternative for agents and new prospects considering real estate as a career. The company's unique acquisition-focused model is less affected by falling commissions as the majority of their acquired homes are "off market" and their agents don't represent buyers and sellers outside of their holding companies.
In addition, with Prophet Homes' focus on servicing the bustling real estate market of Texas, the company is gearing up to hire between 300 to 400 agents and employees. By investing in a skilled workforce, Prophet Homes is on track to meet the growing demands of investors and agents.
"We are confident Prophet Homes will set new benchmarks in the real estate industry and deliver exceptional value to investors and agents alike," said Andrew Welker, CEO at Welker Properties. "We believe now is the perfect time to launch Prophet Homes and introduce our new investment fund, seizing a strategic opportunity in the market for single family real estate investors."
Prophet Homes will primarily focus on Texas and other Sun Belt states for its investment activities, with plans for an imminent expansion of its marketplace to include Southern California.
For more information on Prophet Homes, visit the website.
About Prophet Homes
Prophet Homes is a real estate investment company that connects investors and sellers through an innovative marketplace. The Prophet Homes Real Estate Marketplace simplifies the process of buying and selling homes ready for renovation through fix-and-flip and fix-and-rent models, with a focus on the Sunbelt states. For more information, visit prophethomes.com.
About Welker Properties
Welker Properties is a vertically integrated real estate development company located in Dallas, TX. Founded in 2018, the company's focus is on both value-add multifamily opportunities and new development positioned in areas with the strongest market fundamentals prime for high growth.
Media Contact:
Andrew Welker
[email protected]
SOURCE Welker Properties
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