More than 500 investors from across the nation propel Riverside-based start-up tiny home builder towards its $1,000,000 goal.
Press Release — Riverside, CA (November 20, 2019) – While California struggles with an unprecedentedly severe housing crisis, an army of investors rallied behind Riverside-based Back Porch Homes (BPH), a manufacturer of tiny homes designed for backyards. The purpose of the campaign is to raise funds needed to increase its manufacturing capability as it begins to take its first batch of orders.
Founders Todd Bayer and Stephen McKee already raised $500,000 from local investors who believe Back Porch Homes offers the best solution to their community’s housing shortage. Those funds were carefully used to engineer and build BPH’s showroom and the prototype of its first tiny home of wheels, the Companion.
“Todd and I grew up in real estate and know how hard it is to get anything built in this state,” said Stephen McKee, co-founder of Back Porch Homes. “Our tiny home on wheels concept is a solution that preserves neighborhoods and that can be deployed faster and at a lower cost than accessory dwelling units.”
Where accessory dwelling units can cost $150,000 or more and require twelve to eighteen months to permit and build, BPH’s new Companion model costs $50,000 and can be delivered in four to six weeks.
BPH partnered with Republic.co, one of the world’s leading crowdfunding websites, to give individual investors the opportunity to get in on the next big thing in real estate.
The campaign page is located at https://republic.co/back-porch-homes. When asked about their motivation for investing in Back Porch Homes, some investors said:
“I have been monitoring disruptive real estate innovations and Back Porch Homes seems to have identified an attractive niche. I believe in the ability for this business to command a strong margin and scale up to many locations in North America.”
“Great concept and solution for the housing crisis. I can definitely see this being a solution for families with older relatives that they do not want to be placed in nursing homes.”
“I see a huge market with this product. Back Porch Homes fix a problem, it’s a want and the product is new. I’m excited to see where this company goes!”
About Back Porch Homes
Founded in 2018 by veteran real estate investors Todd Bayer and Stephen McKee, Back Porch Homes is on a mission to make housing affordable for all. Central to the BPH value concept is the tiny home on wheels, a truly mobile and mainstream variant on the tiny home concept. BPH designs and manufactures tiny homes and advocates the adoption of housing policies that favor their use. More at www.BackPorchHomes.com