Adena Hefets
Co-founder & Former CEO, Divvy Homes. On 3 shows, 3 appearances, plus 1 compilation re-air not counted. The Shows tab opens the full record on each.
founderexecutiveinvestoroperator@AdenaHefets ↗LinkedIn ↗adenahefets.com ↗
She is the co-founder and former CEO of Divvy Homes, a proptech company offering an alternative rent-to-own path to homeownership. Prior to Divvy, she helped build Square Capital and worked as an investor at DFJ and TPG.
3shows
3appearances
61statements
15resolved
6supported
4contradicted
40%fully supported
1said about them ↓ Everything Adena Hefets said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Hefets: US home prices will decline 10% to 15% by Q1 2023
“Our view at Divi is that we're gonna start to see heading into Q-one year-on-year declines in home prices across Economist. That is likely to be somewhere around 10 to 15% year-on-year home price declines.”
Hefets: Housing downturn will not be as extreme as 2008 crisis
“So I don't think that we're going to see something as extreme as the, that last housing crisis.”
Hefets: The housing downturn will wipe out gains from 2020 to 2022
“What I do think is that we are going to wipe out some of the gains that were made in the last two to three years.”
Hefets: Top 50% of US households own 99% of total wealth
“99% of wealth, ah, is owned by the top 50%, and the bottom 50% only own one percent of wealth here in the United States.”
Hefets: US home price growth will slow in 12 to 18 months
“At some point there's gonna be enough inventory coming online, that there's going to be enough supply, and a decrease enough in demand that it will impact home prices. Now, I don't know that that's gonna be in the next six months. I actually think it's gonna b…”
Divvy Homes CEO Adina Hefetz was rejected for mortgages by three banks
“I personally applied for a mortgage last week. I applied to three different banks, and I got rejected from all three banks. I was told that as a founder, my current income was too low to support a mortgage.”
Hefets: 80% of Americans cannot afford a home at current mortgage rates
“Based off of our 7.15% average 30 year fixed rate mortgage and then based off of an average home price of 400,000 dollars, 400,000 dollars, which is the average home price in, in the U.S. Only 20%, 20% of Americans, based off the median income, ah, at differen…”
Hefets: Divvy capped annual home buyback appreciation at 6% during market spikes
“It didn't feel right to me, so instead of using exactly what that third party said, I set a cap, and I said, we're not gonna charge any more than six percent appreciation annually, and I don't know where to pull that number from, right?”
Hefets: Tech startups, not government, bear onus to initiate regulatory dialogue
“Is the onus on government to reach out to us and say, hey, let's have a conversation? And truthfully, I don't think that's the case. I think the onus is on us companies to make sure we are opening up that dialogue, that we're showing up for events like this, t…”
Hefets: Divvy and major institutional buyers have paused buying homes
“Yeah, I would say, right now, if you look at any institution, whether it's an iBuyer, a single family rental platform, Divi, then we're not buying homes right now.”
Hefets: Over 50% of US homes hold 50% or greater equity
“There is right now over 50% of homes have 50% or greater equity in the property.”
Hefets: Post-COVID population migration to new cities will stick long term
“We've seen migration to new cities that I think is going to actually stick, right?”
Hefets: Bottom 50% of US families own zero percent of directly held stocks
“The bottom 50% Of families and household own one percent of overall equities in the market, and when you look at directly held stocks, so stocks in the stock market, they own zero percent, right?”
Hefets: US homeowners have 75 times the average net worth of renters
“Homeowners, on average, have 75 times The net worth of a renter.”
Hefets: A $10,000 home price hike disqualifies one million families from buying
“A 10,000 dollar increase in home prices means one million fewer families can own a home.”
Hefets: 51% of Divvy renters buy back their home after three years
“51% of Divi's customers who have come to the end of their three-year lease have been able to buy back their home.”
Hefets: Divvy Homes expects an all-in profit margin around 25%
“Where we're almost probably going to be at about 25% all-in profit margin.”
Hefets: Most US homebuilders missed Q1 construction targets by almost 60%
“I think that most builders missed their Q1 numbers of how many houses they were actually going to build by almost 60% which was mostly supply chain.”
Hefets: Fannie Mae takes less mortgage risk than it should in 2022 market
“Because they've been under conservatorship. So most of Fannie Mae's operations have been very dictated by the government. They're not actually taking probably the level of risk that they should in this current market.”
Hefets: Founders should never rely on investors to build their company
“First of all, I don't think you rely on investors ever. No, I don't mean that offensively. I think that some investors are great, but no one's building this company with you. I am building this company. With my employees, but ain't nobody else there with me.”
Hefetz: Divvy Homes Maintains Positive Unit Economics on Every Home
“At Debbie, we build a really scalable model with positive unit economics for every home that we end up bringing onto our portfolio”
Hefetz: Headcount Is a Flawed Vanity Metric for Startup Growth
“Isn't the best case scenario that I've hired no employees and my revenue has 10 X'd? Like, why is the mark of a growing and successful company the number of employees they have? Which to me seems rather off.”
Hefetz: Raising Debt Capital Is Tremendously Harder Than Raising Equity
“So yeah, debt is tremendously harder than equity.”
Hefetz: Early-Stage Startups Cannot Afford to Let Employees Learn From Mistakes
“With a startup, you're living year to year. I mean, this isn't a, I have 10 years to build a company, because maybe if you're cash flow positive as a startup, you do, but today with Divi, you know, we're a capital intensive business. We are kind of managing in…”
The other half of the tape: Adena Hefets's own voice is left out of every number here. Other people bring the name up 1 time in 1 episode across the shows. every mention, with the transcript →
Who brings them up most Harry Stebbings 1
Every mention by year
tap a year for its mentions
20VC 1
One line per show, most statements first. The link opens Adena's full record on that show: the calibration, argument clarity, speaking style and every statement made there.
| Show | Role there | Eps | Statements | Record | |
|---|---|---|---|---|---|
 ALL-INLEDGER | Co-founder & Former CEO, Divvy Homes | 1 | 19 | 29% 2/7 | full record on All-In → |
 a16zLEDGER | Co-founder & Former CEO, Divvy Homes | 1 +1 | 29 | 50% 3/6 | full record on the a16z Podcast → |
| 20VCLEDGER | Co-founder & Former CEO, Divvy Homes | 1 | 13 | 50% 1/2 | full record on 20VC → |