The Ledger
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Nussenbaum: Co-founder equity shouldn't be measured by individual contributions
“I don't feel that the equity split should necessarily be like, oh, you look at exactly what each of us is bringing to the table and then we measure it out exactly right. Like number one, you, this is going to be like a long journey and you can't always predict…”
Nussenbaum: Traditional property managers effectively charge 12% to 13% monthly
“So a typical property manager does charge an average of 10% a month. They also charge one month's rent to place a tenant. They also usually charge a fee to get started, a fee to renew a lease, and a markup on maintenance. So generally we find that the average …”
Nussenbaum: 1,000-Square-Foot Detroit Homes Cost $40k and Rent for $800 Monthly
“So if you look at like a typical Detroit property, you can easily get, you know, a three bedroom, thousand square foot brick home for 40,000 dollars all in, and that home might rent for 800 dollars a month.”
Nussenbaum: Y Combinator strongly encourages even co-founder equity splits
“Yeah, YC strongly encourages even or close to even.”
Castle charges a flat fee of $79 per month per unit
“We charge a flat fee of 79 dollars per month per rental unit. So it's just a basic subscription service.”
Nussenbaum: Castle reached $31,000 in monthly recurring revenue
“Last month it was 31,000, but, and that's like the core metric we target.”