Model & Strategy

Landed is focused on helping schools, hospitals and local governments retain and attract talent by addressing housing for their staff. Educators, medical workers, and municipal government employees are essential members of every community, but in expensive places, many cannot save fast enough for a down payment on a first home. This is exacerbating attrition problems throughout expensive metropolitan areas, which in turn diminishes outcomes in education, healthcare and other key sectors of the economy.

Landed organizes private capital from both impact and traditional institutional investors into funds that cover half to three-quarters of a standard 20% down payment for local home buying educators. In return, investors receive similar returns to buying and renting out apartments (but without the trouble of being a landlord). These innovative funds share the risk of homeownership with their buyers and are not debt funds.

 

 

At a Glance
Founded: 2015
Economic Empowerment
Location of work: Domestic
Landed
San Francisco, CA
Helping essential professionals buy homes and build financial security.
Landed entrepreneurs headshot
Meet Jonathan Asmis & Alex Lofton

One autumn evening at graduate school, Jonathan, the formally trained engineer turned management consultant, met Alex, the political campaign organizer turned start-up executive. Shaking hands, they immediately debated the impact of driverless cars on urban places and how companies like Airbnb and Lyft forced cities to think bigger. Fast forward a year and a half later, all the while growing together both in- and outside of the classroom, they shook hands again, this time committing to live their values by building saner and safer ways for people to build wealth in cities.

They had witnessed and studied the traumatic impact of the ‘09 real estate crisis – the largest wealth transfer from poor to rich in history – and vowed never again; building wealth meant more opportunity for individuals, and more people with more opportunity meant a strong society. Over a cup of coffee before class one day, Jonathan and Alex realized they had idea symmetry: co-ownership is a more dynamic but underutilized way to move from renting to owning your first home. Upon graduation, Landed was born; they set-out to make ownership smarter and more accessible to more people.

Jonathan and Alex are 2015 graduates of the Stanford Graduate School of Business. Before business school, Alex was an early employee on the 2008 Obama campaign before moving to San Francisco to help companies in the ‘Sharing Economy’ navigate growth challenges. Jonathan was a management consultant while working on a number of urban policy issues including immigration settlement, affordable housing and transit policy.

IMPACT

The retention of essential professionals is an important part of building healthy communities. As an example, teacher retention is a driver of school quality, particularly in high-poverty, high-minority schools. At the same time, homeownership is one of the largest long-term wealth drivers for essential workers.

Collateral requirements (like down payments) are often solved with intergenerational wealth transfers from parents to children. By getting institutional investors to contribute some of that collateral, Landed opens up homeownership to a much more racially diverse population.

To date, Landed has enabled over 500 essential professionals to build over $17M of incremental wealth. Landed has helped essential professionals buy nearly $1 billion worth of residential real estate.

  • When Erin and Adam Jacobs found out about Landed’s down payment program, they knew it was the perfect option for th… https://t.co/9KxC4e4Pk4
  • As @Zillow recently reported, saving for a down payment has gotten even harder in recent years. Research also shows… https://t.co/7UZrMXJEeA
  • Think you’ve found the perfect #home but want to make sure the home of your dreams won’t lead to headaches down the… https://t.co/CWhHFpDtbo
  • Interested in starting your homebuying journey with Landed? Check out to see if you’re eligible by starting the sig… https://t.co/uoQXUMBMjV
  • Buying a home is one of the biggest, most important purchases you will make. To set yourself up for success, here a… https://t.co/EIMEmBvwBS
  • After months of living, working, and studying in a small one-bedroom, Jacqueline and Javier knew it was time to sto… https://t.co/PfUAKdvy0Y
  • Want to make sure you have everything you need to complete your mortgage application? Swipe through to check out ou… https://t.co/soYadxA1XF
  • Even as June draws to a close, we continue to celebrate Pride each day at Landed. Learn how our LGBT+ community exp… https://t.co/lBs04A0bla
  • Two new programs from the Federal Housing Finance Agency (FHFA) will allow many low-income borrowers to refinance t… https://t.co/e3lLsisCZq
  • RT @alexlofton: This stuff makes the company-building grind soooooo worth it -> supporting families of all types/shapes/forms as they build…
  • Customers often ask us, “So, what's the catch?”, when they first hear about Landed’s down payment program. Our answ… https://t.co/7WhTqppHI2
  • Wondering how your real estate agent gets paid? Or what you should do at an open house? Check out our five tips for… https://t.co/jDVrGWFHx3
  • RT @MurseWordsworth: While we're on the topic of homeownership, I have to give a shout out to @LandedHomes for their help in this process.…
  • Saving money for a home can be tough when property values start climbing. Check out how Armando, an English Languag… https://t.co/nUILUYPP6s
  • So many Americans have chosen the COVID-19 pandemic as their moment to put down roots and buy a home. See why educa… https://t.co/EOe8pRAHEw
  • Between mortgage payments, debt, savings, and other living expenses, it can be hard to know exactly what you could… https://t.co/VZmeZeH00v
  • Many essential professionals are stuck between making too much to qualify for homebuying assistance, but not enough… https://t.co/9nYg5rjZkG
  • When closing on a home, we want to make sure you don’t miss any steps, including contingencies. Check out the slide… https://t.co/01uKTdX3Bl
  • Interested in joining Team Landed? We are now hiring a Manager of Down Payment Program Operations, as well as five… https://t.co/Gl0Mcr0ZyK