ZeroDown

Easiest transition from renting to homeownership, $0 down

Pick any home for sale in the Bay Area, and ZeroDown will buy it with cash. You'll move into your ZeroDown Home fast and debt-free. You don't need a down payment. With each rent check, build up purchase-credits that can be used to buy the home later on.
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Would you recommend this product?
Abhijeet DwivediCEO, ZeroDown
Hi! I'm Abhijeet, one of the founders of ZeroDown. We came up with this new path to home ownership after our own very frustrating experiences house hunting in the Bay Area. We hope to make homeownership a lot easier for you. Let us know if we can answer any questions about our product. Also, if you follow the link from Product Hunt, we have a special deal for the PH community ($15,000 rebate when you purchase your home).
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Oleksiy MalytskyyStrategic marketing
@abhijeet_dwivedi don't you think it's a little bit risky to start this project in such an overpriced real estate market as SF. You could go to a more safe place like Chicago or Detroit. no criticism just want to know your thoughts on this.
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@abhijeet_dwivedi @oleksiy_malytskyy you are talking some sense here
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Abhijeet DwivediCEO, ZeroDown
@oleksiy_malytskyy To give a more general answer first: all new companies are risky in some sense or the other - the question is what is the right sequence to eliminate risk. We took on a certain kind of risk by starting in the bay area, and de-risked some other aspects. Specifically, if you looked very closely at the business model, and ran the numbers, in our approach there is no more risk than a typical startup. You can email me at abhijeet at zerodown dot com - and we can get into this more if you are curious.
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Angik SarkarFounder, Waylo
@abhijeet_dwivedi @oleksiy_malytskyy isn't Bay Area a derisked market? Home prices have historically always gone up.
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Russell SmithCTO, Rainforest QA
Having been going through the Zerodown process, it's slick. I was approved really fast - next day I believe. My bank is still asking for more paperwork. Not found anywhere yet, but that's my picky-ness...Props to the team!
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Ryan Hoover
Founder, Product Hunt
Real-estate tech is booming lately. ZeroDown is taking a very unique approach, particularly in their longer term plans (I got a chance to speak with one of the founders a while ago).
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Worked with Zerodown to find a home in San Francisco, and am a big fan. Smooth process, transparent with the numbers, and overall an interesting new approach that has really worked for me.
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Michael AllimanBusiness Owner - Accounting and Profit
I would be in this in a heartbeat, along with several others I know. SoCal NEXT PLEASE!!
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Sharon Pope
Hunter
home sweet home
ZeroDown has been able to help people get the keys to their homes all over the Bay Area. It is frustrating to have a steady income, yet feel that home ownership is years away. ZeroDown invented this new path to home ownership that helps you build toward homeownership with each rent check.
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Jonathan AlonsoDirector of Marketing, Blogger & Speaker
I wish you were in Florida :)
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Edison EspinosaFounder @ Foxie, & EJ
I like this. I believe that there should be more opportunity and options for home ownership. Also, are you targeting a group or segment in the future. I'm looking to solve the affordability housing crisis that is rampant throughout the nation and would love to hear what you think about it and if ZeroDown is also about that? Any plans to expand beyond the bay to the east coast?
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Abhijeet DwivediCEO, ZeroDown
@edisonjoao6871 We will be expanding to the east coast next year. We are painfully aware of the affordability crisis in many parts of the country. ZeroDown is helping many who want a home, but don’t have enough for a down payment. By giving everyone more time (5 years), more assistance, and more flexibility - more people are on a path to getting their home with ZeroDown.
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Edison EspinosaFounder @ Foxie, & EJ
@abhijeet_dwivedi was intrigued by the idea, but upon further checking it out I would like to hear your plans. Individuals with a certain income might not need this. I saw that most homes are above 550k and there's currently no option for someone that truly needs this. Even someone making 100k can't use this. I love the idea, but the ones that truly need this specially in the bay area can't😢
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Major MacglaunI am a Realtor.
This product is a game changer relatively to helping people interested in owning their home.
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Brad CostanzoHost of Bacon Wrapped Business Podcast
Very innovative, I like it. Didn't see the answer on the homepage, but when someone buys the house with you, they're essentially leasing with the option to buy. 1) How long is their lease term with you? 2) What happens if something happens and they can no longer afford the home? Do you just re-lease it out or resell?
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Laks
Maker
Hey @brad_costanzo - re: (1) the lease term is for 5 years (during which your monthly payment wouldn't change) - but you can buy your ZeroDown Home from us anytime after 2 years. re: (2) if something happens and you are not able to afford the home - you can walk away and get half of the credits you've earned back.
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Brad CostanzoHost of Bacon Wrapped Business Podcast
@laks_srini Thank you for the extra info.
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Brad CostanzoHost of Bacon Wrapped Business Podcast
@laks_srini Also, super innovative, here's a bit of insight you might be able to use in terms of helping explain this better on your site from my perspective (FYI this is one of the things I do for a living, but take it for what it's worth) The prospects on your site looking at it might think this is great but at first glance, it’s still not homeownership. They want homeownership and equity and don’t want to throw away their money in rent. Many aren't familiar with Rent-to-own, Lease with option to buy yet. And when renting, the problem there is that they have to buy what’s available for rent. 

But that inventory is dwindling. When property owners are able to get higher rates through short term rentals and Airbnb, it drives the supply of nice rentals down and the prices way up. So your left with buying a house you love but can’t afford. Or renting whatever is available in a competitive and expensive market. So they feel they're really in a pinch. What to do? If they knew about Lease to Own, and asked a SELLER, that can be hard because sellers want to sell their house, they don't want a landlord. What are they to do? For people who want to live in a house they love, could see themselves living in it for many years and don’t want to flush all their money down the rental drain, this offers a middle road, find what you would buy if you could afford it opportunity. We buy it and lease it to you, but it’s like you’re building up equity with our innovative purchase credits which means you’re actually investing in a house you love, but can’t yet afford. 
No need to miss out on the house of your dreams while prices continue to increase and landlords raise the rents to unobtainable levels. So this was my first impression of what the main site is missing. By finding a way to spell out the conversation in their head now, addressing it and showing them the options and how this really is the bridge, while educating them on how it works, I think you'll have even more lightbulbs go off. Hopefully this unsolicited messaging advice is useful from a 3rd party perspective.
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Laks
Maker
@brad_costanzo thank you! this is really helpful.
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Brad CostanzoHost of Bacon Wrapped Business Podcast
@laks_srini You're welcome.
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