Friends helping friends
That's the spirit from which up&up was born. Four years ago, my friend came to me to chat about renewing his apartment lease. He was fed up with how much rent he had paid ($1,000/m over 5 years is $60K!) and that he wasn't able to benefit from the rise in home prices. He was approved for a mortgage but still couldn't buy a home because he couldn't afford the down payment.
I offered to help and we partnered to buy his home together. We split the down payment, split the mortgage payments and he paid me a percentage of what the house would rent for on the share I owned. Because our splits were based on our down payments and rents were obvious from the market, we both knew this was a fair deal amongst friends.
We quickly realized this was a product that could help many Americans who want to stop paying rent and get into their first homes sooner. The vision is powerful but simple - let's build a business on the premise of making fair partnerships, the same type as we did with friends and family, and help as many people achieve homeownership as possible.
243 Canal St, FL 6, New York, NY 10013