Backed by Y Combinator

Invest in housing developments and make money

HABU is an AI-native real estate developer that builds apartments and townhomes. We use AI and proprietary software to complete projects up to 20% faster, 10-15% lower cost, and we share the extra returns with our investors.

Backed by institutional investors
  • Y Combinator
  • TipTop VC
  • Copper Sky Capital

And strategic angel investors at

  • Mutiny

The HABU approach

Build faster at a lower cost to make higher returns

Our AI-native model is built to automate manual work and make development decisions earlier.

StageTraditional workflowHABU model
Sourcing Underwriting

Manual property searches and spreadsheet underwriting

Weeks to months

Automated sourcing and first-pass underwriting

Feasibility Due diligence

Manual review of reports and site constraints

6 to 18 months with approvals

AI-assisted diligence linked to underwriting

Architecture Engineering

Separate design and cost reviews coordinated by email

4 to 8 months

AI-assisted design reviews linked to project economics

Construction

Separate tools and manual progress updates

12 to 36 months

Connected project data with AI-assisted exception tracking

Operations Sale

Manual operating reports and spreadsheet sale analysis

6 to 18 months to stabilize; sale timing varies

AI-assisted hold-or-sell analysis using connected data

Vision

We're an AI-native developer building a technology and real estate platform to become the largest housing developer in the country

Proprietary AI-Native Operating System that will run 5x more projects per development manager, complete projects up to 20% faster, with a lower total project cost

What is HABU?

Highest And Best Use is a foundational concept in urban economics and land planning. It explores the best use of a property or parcel of land. There are four criteria:

  • Legal Permissibility

    What uses are allowed by zoning, land-use rules, and other legal constraints?

  • Physical Possibility

    What can the site’s size, shape, terrain, and infrastructure support?

  • Financial Feasibility

    Can the proposed use generate enough value to justify its costs?

  • Maximum Productivity

    What is the highest output of value a parcel can provide given all constraints?

We use AI and technology to determine the highest and best use of properties exponentially faster and at massive scale.

For capital partners

Discuss how to make money and build housing in America

Our development strategy is Class A, market-rate multifamily in the Phoenix MSA. We welcome co-GP and JV structures to qualified partners.

Want to make your money make more money? Let's talk.

Company FAQs

What does 'AI-Native Services' mean at HABU?

AI-Native Services are businesses that sell the final outcome, like cash-flowing buildings, instead of the selling inputs or software, lke SaaS or traditional proptech companies, to someone else who then provides the final outcome.

Our view at HABU is that most developers are actually just service providers to their LPs; if they do not have an LP then they do not have a project. We're building our company around that frameshift. We are a service provider to LPs: we provide service of developing real estate on their behalf and them the best possible financial outcome at a national scale.

What does 'AI-Native' mean at HABU?

It means that a company built AI into the core company workflows, systems, and decision making from Day 1. To be an AI-native real estate developers means that we still provide the final outcome itself, cash-flowing buildings, but we build our own internal tooling to perform the development process exponentially faster and at higher quality then a non-AI developer.

Who can invest in HABU projects?

HABU's investment offerings are open to accredited investors, including individuals, family offices, and institutional investors. Individuals in the technology and startup industry are our most common type of investor. HABU also welcomes co-GP and joint venture partners on select projects. To start a conversation, use the investor form.

What is the minimum investment?

Minimums vary by project size and scope, but typically no less than $100k per LP and up to $15M. HABU shares the target return metrics on a project by project basis.

What does HABU do?

HABU is an AI-native real estate developer. We don't sell SaaS- we are the actual developer. We find land, construct a building, lease it up and operate, then sell it for a profit. We provide that service on behalf of our LPs, Limited Partners, who are the investors in individual real estate projects.

What kinds of projects does HABU focus on?

HABU focuses on medium to high density, market-rate multifamily on infill sites in the Phoenix metro: townhomes, build-to-rent communities, and apartments, built by-right under existing zoning (i.e- no rezoning is required). Projects typically run 15 to 100 units.

Who founded HABU?

Bryan Tharalson, CEO and Co-founder, is a long time technology GTM leader turned real estate developer and a top graduate of ASU's Master's of Real Estate Development Program. Junhao Chen, CTO and Co-founder, is a former AI/ML Team Lead at Meta, Senior Technical Consultant at Accenture, and started in the US Navy managing Aviation Logistics for F-18's and F-35's.

Who backs HABU?

HABU is backed by institutional investors like Y Combinator, TipTop VC, and Copper Sky Capital. Along with strategic angel investors from tier 1 tech companies like Rippling, Apple, Meta, Mercury, Gong, and Mutiny.

Is HABU a software company or a real estate developer?

HABU is a real estate developer and the sponsor of its own projects. It builds the internal software and AI it runs on, but it does not sell that software to anyone. What HABU delivers is a newly built property that produces cash flow for its investors, so HABU competes with other developers, not with real estate software companies. We are frequent users of proptech and AEC software products and always looking for frontier solutions.

How much do investors make?

Individual project forecasts are shared privately. From a general market-wide review of multifamily projects, investors have seen IRR's in the high teens to low 20%, with an equity multiple of 1.5x to 2.0x (i.e- every $1 invested the investors receive $1.5 to $2.0's back).

Big disclaimer here: this is not a solicitation to invest or a statement of projected returns, these are market-wide metrics from publicly available sources, all investments carry risk, do your own due diligence.

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