#8: Transforming Real Estate Ownership and Offering a Better Alternative to Airbnb w/ Tanvir Aman, Founder and CEO of Dunyha

#8: Transforming Real Estate Ownership and Offering a Better Alternative to Airbnb w/ Tanvir Aman, Founder and CEO of Dunyha

A few months after he joined a startup out of college, the dotcom bubble burst in April of 2000. Thereafter, Tanvir set aside his stockbroker dreams to found two companies as his entrepreneurial career took flight. In a world of uncertainty, Tanvir thrived as an entrepreneur. Tanvir Aman is a lifelong serial entrepreneur and is currently the Founder and CEO of Dunyha. He came up with the idea for Dunyha while he was managing his own Airbnb and realized that customer satisfaction from guests and his level of involvement were positively correlated. After this epiphany, Tanvir started Dunyha, a startup that is revolutionizing the housing crisis by empowering real estate ownership through an operate to own model. This means that you have a host that lives at a property and in exchange for providing hospitality to the guests, they get to stay at the home for free.

What is the PROBLEM that Dunyha is solving? Where people want to stay looks starkly different from ten years ago. Moreover, real estate ownership is becoming increasingly inaccessible for young people, particularly in urban districts and cities. Generation by generation, real estate prices are accelerating while wages are stagnating. The Problem for Homeowners: Most college graduates are burdened by college debt. Additionally, despite the extra costs, the majority of Generation Z individuals want to live in urban districts or the center of “buzz.” However, 44% of Millenials lack a down payment for a traditional mortgage. Lastly, there is an increasing need for buildings to be built sustainably as a long-term asset that is both efficient and technologically modern. The Problem for Travelers: Today, more people are attracted to booking Airbnbs or alternative lodging than hotels. Hotels are simply stale, with no element of excitement that can satisfy the adventurous zeal of Generation Z. Even though Airbnbs are great, they tend to have limited property management, security, and service layers in the average lodging experience. Hosts are often faceless and do not provide guidance to travelers. What is Dunyha’s SOLUTION? A purpose built and curated Airbnb experience. First, they design sustainable homes that resemble micro hotels. These combine the appeal of Airbnbs with the consistency and hospitality of hotels. Second, they bring in young people (Generation Z and Millenials) who are passionate about the hospitality industry. These individuals are the ideal operators of the micro-hotels due to their focus on enhancing the service aspect of a guest stay. They’re incentivized by free rent and profit sharing income. After three years, they’re able to purchase the property and business by securing financing. Typically, you would either pay for rent or if you had enough money, you would make a downpayment to purchase a home. Dunyha gives you a third option with their operate-to-own model. Straying from the traditional rent-to-own or own model, their operating model has the power to transform and improve the entire travel lodging industry. Travelers can now control their experience and the design of it. As a result, Dunyha harnesses the entrepreneurial spirits of young people and provides them with the income producing assets of real estate. Dunyha’s mission is to “empower real estate ownership serving travelers.”

Discussed in this episode…
[00:46] Overview and background
[04:25] The differences in entrepreneurship today compared to twenty years ago
[07:51] Dunyha’s mission and their methodology
[09:54] The hospitality side of the startup
[10:53] Dunyha’s operating model
[12:14] The two-sided problem Dunyha is solving
[19:24] Dunyha’s standardized and creative aspects
[21:10] Why Tanvir chose this model to solve the housing crisis
[25:00] How he discovered this problem
[26:11] How Tanvir scaled his initiative
[33:01] What the world would look like if Dunyha fulfilled its vision
[36:47] How Tanvir contemplates product-market fit as a founder of four startups
[38:24] What questions to ask your users
[43:25] What being an entrepreneur has taught Tanvir about life

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