Business

How this real estate CEO is making it easy to invest in real estate with just $1

Calvin Cooper grew up in a family of real estate entrepreneurs. His great grandmother and grandmother owned real estate while growing up on the North Side of Columbus. According to him, he was inspired by them to go into the real estate business.

Aside from the inspiration of his family, he was also concerned about the widening gap between Black and White property owners. According to a report cited by ColumbusCEO, the rate for White millennial homeownership at age 30 is 2.5 times higher than that of Black millennials.

“The barriers of entry [in real estate] are getting higher and higher, and home ownership is getting farther and farther out of reach,” Cooper told the ColumbusCEO.

Having data that suggested that it was increasingly becoming difficult for Blacks to own properties, Copper co-founded Rhove, an app to allow customers to invest in homeownership for as little as $1 per share in Columbus and other states like Colorado, Illinois, South Carolina and Oklahoma. What is more, the app also allows users to submit a property for investment as well as room for investors to interact.

“Our vision is that everybody in the world should have the access and opportunity to invest in and own the places that we live, work and play,” Cooper said. He is also making big projections based on research figures he has seen.

He is projecting that a billion global investors will own a trillion in real estate through the Rhove app sooner or later. The company makes money by charging sourcing, broker-dealer and processing fees.

Rhove is also targeting the crypto world. This is because more ownership is occurring in the digital sphere via non-fungible tokens (NFTs) and cryptocurrency and he believes that the real estate sector can also operate in the decentralized finance ecosystem, according to ColumbusCEO.

Cooper studied economics at Capital University before working at venture capital firm NCT Ventures. Prior to that job, he worked for Ohio Sen. Ray Miller, and for the Ohio Minority Supplier Development Council.

The 33-year-old co-founded Rhove with Jonathan Nutt, Jon Slemp and Scott Sumi.

“Our vision has always been the same. We want to extend access for everyone to own in our communities,” Cooper told The Columbus Dispatch. “I believe democracy is strongest when everyone has ownership,” he said. “We just want to lower the barriers to entry.” 

Abu Mubarik

Abu Mubarik is a journalist with years of experience in digital media. He loves football and tennis.

Recent Posts

Motown’s Martha Reeves finally gets star on Hollywood Walk of Fame after she had to crowdfund for it

The renowned Grammy and Rock & Roll Hall of Famer, Martha Reeves, earned her place…

13 hours ago

Tragedy in South Africa as vehicle carrying Easter worshippers falls off bridge, 45 dead

The Easter weekend didn’t start well for some worshippers who have been reported dead in…

13 hours ago

Gladys Muhammad, the woman who has played Harriet Tubman several times to keep her legacy alive

Gladys Muhammad, an Indiana native, is working hard to preserve Harriet Tubman's legacy. Following her…

15 hours ago

Liquor store clerk shocked she sold $1.13B Mega Millions ticket without knowing identity of purchaser

TiYahna Bambaata, a clerk at a New Jersey liquor store, sold the $1.13 billion Mega…

17 hours ago

Meet Safro Fades, the barber who uses hammers, knives and made history winning a ‘Barber Grammy’

Martin "Safro Fades" Safari is not a barber who follows the conventional rules of the…

19 hours ago

After being slammed for bragging about being rich, rapper Latto sends fan $2K for rent money

Latto has once again won the hearts of her followers after making a generous donation…

20 hours ago

Man accused of fatally stabbing Walmart worker allegedly gave all African Americans at store ‘dirty looks’

Authorities in Illinois have arrested and charged a man in connection with the fatal stabbing…

20 hours ago

Diddy no longer owner of Revolt TV as new mystery owner takes over: report

Almost a decade ago, Sean "P Diddy" Combs launched a cable music channel called Revolt…

21 hours ago

Krystal Anderson: Longtime Kansas City Chiefs cheerleader dies after stillbirth

Krystal Lakeshia Anderson, a longtime cheerleader for the Kansas City Chiefs and a women’s health…

21 hours ago

Owners of bowling alley where Takeoff was shot blame rapper for his death in response to lawsuit

The owners of the bowling alley where Takeoff was fatally shot are asking a judge…

22 hours ago

How Crawford-Williams started a movement in her apartment that now supports hundreds of small businesses in Detroit

Get to know Jennyfer Crawford-Williams; she is behind All Things Detroit Day, an annual event…

2 days ago

Two friends treat South African security guard to once in a lifetime helicopter ride over the rainbow nation

Two friends in their 20s made a heartwarming gesture to their apartment's security guard after…

2 days ago

From errand-runner to multi-business owner, meet 2024 Enterprising Woman of the Year Roslyn Ellerbee

Roslyn Ellerbee, the CEO and founder of Dream Team Digital Marketing, Manifesting Greatness with Roslyn…

2 days ago

Kevin Hart loses big after selling his Bored Ape NFT, raises concerns over future of NFTs

In 2022, American actor and comedian Kevin Hart joined a growing list of celebrities who…

2 days ago

Gamecocks head coach Dawn Staley makes history again with national coach of the year win

The U.S. Basketball Writers Association has picked South Carolina women's basketball head coach Dawn Staley…

2 days ago