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Real Estate As An Employee Benefit? (with Dave and Tommy Shumway)
Manage episode 427879601 series 3585150
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"You're talking about the number one creator of wealth and security for people and one of their most important purchases. And like, how is this not in the employee benefits arena?" - Tommy Shumway
For the first time ever, a father and son joined the podcast together. Dave and Tommy Shumway, from CityWorth, joined the show to discuss an innovative, yet somewhat obvious, benefit that they’ve rolled out for employers to offer their employees: down payment assistance.
We spend a lot of time on the show covering new point solutions that employers can use to offer better benefits to their employees, but the idea of helping employee’s purchase real estate has yet to come up on the show. Dave and Tommy are able to offer this benefit thanks to their ability to operate in several states and their experience with doing these kinds of transactions many times.
The approach for employers is simple: offer employers help with their downpayment only after they’ve worked a set number of years at the company. The benefit is hugely beneficial with encouraging employee loyalty, and as Dave and Tommy shared, homeowners live much more stable lives and are much more productive than renters.
Join us this week on Self-Funded with Spencer for a discussion on home ownership as an employee benefit.
Chapters:
00:00:00 Introducing The Shumways
00:07:06 Financial Struggles in Entrepreneurship and Resilience
00:15:04 Cityworth’s Unique Approach To Real Estate
00:22:32 Real Estate As An Employee Benefit
00:24:32 Why Owning Real Estate Is So Important
00:28:05 Down Payment Assistance Based On Employee Loyalty
00:34:55 Shared Ownership for Non-Married Roommates
00:45:00 The Future Of Real Estate
Key Links for Social:
@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFunded
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Key Words:
#StartupChallenges #CityworthBusinessModel #RealEstateIndustry #MortgageEmployeeBenefits #HomeBuyingAssistance #EmployeeRetention #PrivatePortals #HomeownershipBenefits #RealEstateInnovation #RealEstateStrategies #RealEstateServices #EmployeeBenefits #selffunded #podcast
Startup Challenges, Cityworth Business Model, Real Estate Industry, Mortgage Employee Benefits, Home Buying Assistance, Employee Retention, Private Portals, Homeownership Benefits, Real Estate Innovation, Real Estate Strategies, Real Estate Services, Employee Benefits, self funded, podcast
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