Welker Properties, a Dallas-headquartered multifamily real estate development company, has debuted Prophet Homes, which is designed to offer investors access to off-market homes.
According to the company, the Prophet Homes Real Estate Marketplace is designed to simplify the process of buying and selling homes ready for renovation through fix-and-flip and fix-and-rent models. The company plans to 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.
The new enterprise will also establish a $100 million investment fund that will purchase opportunities within Prophet Homes’ ecosystem.
“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,” said Welker Properties in a press statement. “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.”
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