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AHOMO Fund Launches Initiative to Acquire 3,500 Homes Nationwide with CloseAbility Platform

AHOMO Fund's Ambitious Housing Initiative

In a bold move to empower middle-income families across the United States, the AHOMO Fund, abbreviated from "A Home of My Own," has just announced a groundbreaking initiative to acquire and renovate 3,500 single-family homes. This nationwide effort, spanning 42 states, aims to provide sustainable housing options for households that often find themselves caught in the financial middle—earning too much to qualify for assistance yet not enough to compete with cash-rich institutional investors.

The Power of CloseAbility

To effectively manage this expansive housing project, AHOMO is utilizing the CloseAbility platform. This innovative, AI-enabled tool is purposefully designed for distressed real estate transactions, assisting licensed agent-investors and attorneys throughout every phase of the deal—from sourcing to legal clearance and final closing.

Wendy S. Rosett, General Counsel of CloseAbility and a former magistrate judge, emphasized the platform's capability to revolutionize the industry. "CloseAbility's AI and legal automation give us the essential edge to scale operations while ensuring comprehensive legal protection," she explained. The infrastructure built on insured, recorded Warranty Deeds underwritten by established firms like Old Republic or First American reinforces the reliability of every transaction processed through the platform.

Learning from the Past

AHOMO is strategically positioning itself against previous national housing initiatives, such as Home Partners of America, Divvy Homes, and Zillow Offers, which encountered significant operational challenges. These companies left behind fragmented neighborhoods and unfulfilled promises surrounding rent-to-own options, resulting in substantial write-downs. Kevin Ra, CEO of CloseAbility and an industry veteran, argues that the AHOMO strategy systematically addresses the anxiety caused by these historical missteps.

"Past efforts in this space lacked workflow discipline and legal rigor, leading to their downfall. We have meticulously crafted AHOMO with sustainability and legal accountability in mind," said Ra. The AHOMO framework is built on more than 300 workflows derived from real-life closed transactions, ensuring that lessons learned from the prior failures are integrated into this new approach.

Key Features of CloseAbility

CloseAbility shines with its functionality designed to support scalability, crucial to AHOMO's mission. Here are some of the notable features that empower agents and partners:

- 300+ deed-based workflows through the Closed-Transaction Based Real Estate Learning (CTBREL™) system, enhancing transaction efficiency.
- AI-driven CloseAbility Analysis™ to quickly identify high-equity, fast-closing opportunities for investment.
- The SMC Framework™ (Source, Manage, Close), which streamlines the entire transaction process.
- Seamless integrations with tools frequently used by agents and attorneys, including CRM systems and legal forms.

Those licensed agents and investors who partner with AHOMO will assume the role of buyer's agents for the fund, earning a competitive 3.5% commission per closed transaction. They will also have the opportunity to oversee renovation projects, acquire homes at pre-agreed prices, and ensure buyers receive properties equipped with new mechanical systems along with a home warranty.

Control in Local Hands

It’s essential to note that AHOMO is not in the business of flipping homes for short-term gain nor directly managing renovations. Instead, the Fund is focused on financing acquisitions and setting specifications for projects. The hands-on construction and resale are entrusted to local licensed professionals and their clients.

“This initiative is not just a house-flipping venture,” Rosett clarified. “It’s a program that empowers real estate professionals while guaranteeing that families find stability and equity in their homes.”

With over 3,500 distressed transactions already successfully completed through CloseAbility, coupled with an impressive average equity margin of 30-40%, AHOMO appears poised for a trajectory of confident growth.

How to Get Involved

Currently, applications are open for 105 agent-investor slots nationwide, with demands already rising—9 positions have been claimed. As approvals roll in, agent-investors and associated partners looking to represent the AHOMO Fund are encouraged to apply promptly. Interested individuals can secure a call for application here.

This initiative marks a promising step in the housing market's evolution, aiming to address the critical need for affordable, sustainable housing.

For further inquiries regarding the program, please contact: