Jay-Z and Will Smith are working together to help make homeownership easier to accomplish for all. Taking on another business venture with each other, the two are looking to use their wealth to invest in a start up company that assists low-income buyers to get over the hurdle to become a home owner.
The Business, Landis, helps renters build credit until they can buy. Reported by Bloomberg, a group of investors which includes the two have raised over $165 million for the start up.
“Financial inclusion is really important to us,” said Landis co-founder Cyril Berdugo. “An aspect of Landis that we’re very proud to be a part of is wealth creation for low-income Americans.”
He added, “We make money when our client buys the house back,” said Berdugo. “If we leave money on the table, that’s our problem.”
As per reports, the $165 million will allow for the company to purchase close to a 1,000 homes that they can help assist renters to work towards homeownership.