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Co-Operty Co-Founder Lynda Coker Discusses Co-Ownership and Housing Affordability

Fintechfun

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Episode Summary:

In this engaging episode of Fintechfun, Chris Titley welcomes Lynda Coker, the innovative co-founder of Co-Operty, to discuss the evolution of her career and the inception of her groundbreaking venture. Lynda offers a glimpse into her journey, detailing her transition from the structured world of corporate finance to the dynamic realm of startups.

Following her return to Australia and a trip around the world’s vibrant startup hubs, Lynda sheds light on the significance of co-ownership in today’s housing market. Co-Operty, her venture co-founded with Liz Roche, embodies a solution that grants people collaborative pathways to property ownership. Lynda describes the legal and fractional aspects of co-ownership, tenancy in common, and the importance of having flexible property investment strategies.

Key Takeaways:

  • Lynda Coker’s extensive background in financial services and venture investment has culminated in the launch of Co-Operty, a fintech platform aiming to make co-ownership of property straightforward and accessible.
  • Co-ownership is posited as a viable solution to the housing affordability crisis, with tenancy in common providing a more flexible and protective form of property ownership.
  • Co-Operty’s MVP primarily targets cohorts such as flatmates, friends, family, and parents seeking to assist their children into the property market, often referred to as the ‘Bank of Mum and Dad’.
  • Partners such as mortgage brokers play a crucial role in Co-Operty’s engagement strategy, helping inform product development tailored to the needs identified at the forefront of the housing market.
  • Lynda aspires to expand Co-Operty’s offering, envisioning the evolution of their MVP to address broader use cases, white-label services, and potentially the introduction of a fractional loan product.

Notable Quotes:

  • “Co-ownership is a real…well, it’s not the only solution, but we see it as a solution to address housing affordability.” – Lynda Coker
  • “I just feel like it’s never been very well understood. It’s not being digitized, and it’s time to sort of empower it and bring it to life…” – Lynda Coker on co-ownership.
  • “…it’s a better way to help your children and actually help yourself or selves is not gifting the money and co-owning the property.” – Lynda Coker on parents investing in property with their children.
  • “We want to use this phase to really sort of test and learn.” – Lynda Coker on Co-Operty’s launch and beta phase.
  • “One place I missed off…and I would love to go back to is the Galápagos.” – Lynda Coker

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