Former Northwest Arkansas entrepreneurs Ryan Frazier and Kenny Cason have returned to the region to launch their newest venture — in a roundabout way.
Frazier and Cason, two of the four co-founders of former Fayetteville tech company DataRank, have started a real estate company called Arrived. Frazier said the business is a response to what he believes is a need for a third option to homeownership.
“Between the two of us, we’ve moved every year for the past 10 years, on average,” Frazier said. “It was frustrating that the only options were either renting or buying a home.”
Frazier and Cason are based in Seattle. They relocated following DataRank’s 2015 sale to Simply Measured, a Seattle company that, like DataRank, also works in the social analytics space.
Simply Measured was acquired two years ago by marketing analytics firm Social Sprout. Frazier and Cason stayed through the transition but left their jobs in February.
Speaking from experience, Frazier said Arrived’s business model is right for people who are ready to build home equity. Even if they aren’t prepared to commit long-term to a single home or city.
“For us, buying or committing to a house for five years or more was really tough,” Frazier said. “And if you buy and sell a home in less than two years, which I have done, the commission and fees can eat up all the equity you earn.”
Arrived will buy its first homes in Northwest Arkansas. A real estate fund buys and manages the houses. Residents invest and earn ownership in the company’s portfolio. That makes them co-owners, offering the flexibility of renting with the financial benefits of owning a home.
Frazier said he is working to build a portfolio of 10 properties in the next couple of months. He did not disclose the outside investment that’s been raised for the fund.
Arrived leased its first property in early August. The single-family home is in Fayetteville, has three bedrooms and is 1,830 square feet.
“The [lease] terms are set at the beginning,” Frazier said. “It’s looking like a two-year lease with optional renewals after that.”