Tyler Okland, MD @Tyler_Okland_MD Twitter profile

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Tyler Okland, MD

@Tyler_Okland_MD

1 year

I have trained to be a surgeon for the past 10 years. Today is my last day of that training. Most of you don't know this, but when I'm not tweeting about stocks & real estate I spend 60+ hours a week doing facial plastic & reconstructive surgery. My wife and I are moving to

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Seems like we nailed this one. Congrats on your first profitable quarter Opendoor! $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Wish you were a VC? You can now buy Opendoor at just above its Series D valuation, raised 6 years ago when the company was operating in 2 markets and annual revenue was equivalent to 2 weeks of today's. Anything else this asymmetric in the public markets?

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Tyler Okland, MD

@Tyler_Okland_MD

1 year

This is the American Dream. My pregnant wife and I spending the day putting together office chairs and furniture for the small surgical practice we open next month. This feels like such an improbable outcome for my life. I moved 20+ times by the time I was 18, went to 5 high

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

At the time of Opendoor's IPO, 1 in every 2,300 U.S. home sales occurred on their platform. As of February 2022, 1 out of every 130 home sales are through Opendoor. Probably nothing. $OPEN

Opendoor's Path to 4% Marketshare - Datadoor.io

In September 2020, Opendoor released its first public investor presentation. Management laid out an audacious goal to one day operate in 100 market...

datadoor.io

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Tyler Okland, MD

@Tyler_Okland_MD

3 years

Which of these disruptive investments will generate more alpha over the next 5 years? Data: $PLTR vs $SNOW Real Estate: $OPEN, $Z, $OPAD E-commerce: $SHOP, $SE, $ETSY FinTech: $SQ, $SOFI, $UPST Metaverse: $NVDA, $U, $RBLX Crypto: $BTC, $ETH, $SOL

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Tyler Okland, MD

@Tyler_Okland_MD

3 years

Happy to announce I joined the $STRONG army today. Bought my first two nodes. This equates to roughly $3.4k in passive, monthly income. Will continue to build more nodes from here. @Strongblock_io

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Opendoor has 3,624 homes pending sale for which we have transaction data today. For this cohort we see: - 16.6% gross profit margin - $65.4k gross profit per home - Greater than 2X Q4 profitability metrics - Mean holding times of 106 days Probably nothing. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Yesterday I graduated from Stanford OHNS residency. I was beyond honored to be awarded resident teacher of the year. Over the past five years I logged: -18k hours -3.2k surgical cases -2k clinic patients -1.5k consults -6 slash airways -Innumerable mentors/friendships Onwards.

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Not sure who came up with "42% of Opendoor homes were sold for a loss in August," but they forgot to include Opendoor's 5% fee in the calculation. The actual percentage - including fee - is 24%. Not terrific, I agree, but being 75% off is absurd analysis. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

3 years

Woke up this morning to find out I earned my first $STRONG last night. Am I the only one who checks this dashboard 20 times a day? #nodearmy @Strongblock_io

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

I will be buying some of Cathy’s $PLTR shares next week.

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Opendoor's Q2 gross profit margin on first 1,050 homes sold is 13.73%. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

3 years

Which companies have the best chance of becoming the mega-caps of 2030? 👾 $PLTR 👾 $SNOW 📺 $ROKU 📺 $APPS 🕹 $SE 🕹 $U 🏡 $OPEN 🏡 $Z 🏦 $SOFI 🏦 $HOOD 💳 $AFRM 💳 $UPST 🧬 $TDOC 🧬 $DNA 🚁 $LILM 🏎 $LCID 🚀 $RKLB What’s not here but should be?

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Tyler Okland, MD

@Tyler_Okland_MD

3 years

$PLTR finally announces its crypto product: Foundry for Crypto. Huge news.

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Tyler Okland, MD

@Tyler_Okland_MD

3 years

$PLTR has invested in these 18 companies... 🦾Sarcos 🚁Lilium 🧬Celularity 🧬Roivant 🥼Babylon 🚘Wejo 🎁Boxed 💊Pear ⚡️Tritium 🦾Fast Radius 💸Kredivo 💽AdTheorent 🛰Blacksky ⚡️Energy Vault 🚁Skydweller 🛰Astrocast 🚖Faraday Future 🌲Origin Materials

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Tyler Okland, MD

@Tyler_Okland_MD

3 years

1/ Alright, I woke up early this morning and tuned into the $PLTR earnings call. Here are my takeaways, a thread. Revenue growth of 36% yoy, driven by commercial.

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Tyler Okland, MD

@Tyler_Okland_MD

3 years

For long-term investors, it’s important to identify those core holdings that form the spine of the portfolio. 2021 was cruel to growth, but the thesis has never been stronger for these six, my core picks heading into 2022. $OPEN $SOFI $PLTR $U $ETH $SOL What are yours?

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

19% of home sellers have lowered prices in May. Yet through May Opendoor's gross profit margin remains strong, 200 bps higher than Q1's EPS beat and surprise profitability. How is this possible? If you own real-time demand data, you know future home price dynamics. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

In Q2 Opendoor posted double digit margins in each and every market in which it sold 100+ homes. Definitely something. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Love that we’ll be able to see the $PLTR logo on a Ferrari racecar

Palantir Technologies Extends Partnership with Ferrari to Bring Data Driven Performance Decisions...

Palantir Technologies Inc. (“Palantir,” NYSE:PLTR), a leading builder of operating systems for the modern enterprise, today announced a new one year e

www.businesswire.com

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

1/ Pleased to present my finalized Q1 estimates for Opendoor, based on: - 11.7k observed transactions - 8.7k GPM datapoints - 88% historical capture rate from our algos Given my confidence in these numbers, I am raising my $OPEN estimates. Without further ado…

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

$SOFI added a record half a million members in Q4. And remember, the Super Bowl happened in Q1…in SoFi Stadium. These members are now in the walled garden of SoFi, and each and every 2nd and 3rd product purchased is fat-margin-fintech-nirvana. Congrats @anthonynoto and co.

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

As of February 2022, 0.76% of all U.S. home sales occurred through Opendoor. $OPEN marketshare by metro: - Atlanta: 6.4% - Phoenix: 5.5% - Houston (next closest): 2.1% The remaining growth opportunity here is ludicrous.

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Opendoor's 2021 results are in. In today's piece I delve deep into a company transforming residential real estate. We discuss early Q1 numbers, Amazon, and what the future profit center of $OPEN looks like. Grab a mug of hot cocoa and enjoy.

Opendoor: The Art of Winning an Unfair Game

Thinking Like Amazon, Path to Profitability, and the Power of Spectacular Product

theoperator.substack.com

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

We are in the housing endgame now. You've heard Opendoor is facing heavy losses. Take a moment to examine the actual operating performance of a company besieged by one of the fastest housing crashes we've ever seen. Pretty incredible response. $OPEN

Opendoor: Endgame - Datadoor.io

Tony Stark: "You said one out of fourteen million, we win, yeah? Tell me this is it."Dr. Strange: "If I tell you what happens, it won’t happen."Ton...

datadoor.io

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Opendoor is currently trading at 2X March '22 sales. Sounds right.

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Tyler Okland, MD

@Tyler_Okland_MD

1 year

Over the past year Datadoor generated more profit than I was paid in six years of surgical training, combined. Here's how @SebastianSzturo and I - Wall Street outsiders -- grew our niche business to be the dominant alt data used by hedge funds who invest in one particular stock.

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Seems like the most common fear around a longterm investment in Opendoor is a housing downturn, leaving $OPEN holding the bag on billions in inventory. Here's why that won't happen -- how Opendoor was built precisely to navigate downturns. Happily welcome contrarian takes.

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Update on Opendoor's median purchase price in Phoenix. Week of June 13: $491,500 Week of Aug 15: $405,200 $86,300 less (17.6%) in 2 months 🤯 This is the margin lever in a down market -- Spread. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

1 year

@awilkinson @elonmusk You're going to the dentist way too much

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

At @DatadoorIO we analyze millions of Opendoor datapoints on a weekly basis. There's probably no non-employee closer to their current/forward data than me. $OPEN has to go bankrupt for the current price to make sense. And all I'm seeing from the data is a profitable company.

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

For the first time in its 8 year history Opendoor listed more than 1,000 homes for sale in one week (May 8 - 14). This is 70% more listings than the first week of January, 2022. Probably nothing. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Opendoor's Q2 2022 earnings are tomorrow after the close. Here is @DatadoorIO 's finalized estimates for the quarter (as well as our historical accuracy). Congrats on another profitable quarter $OPEN team!

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Today you can buy $OPEN at $200 million more than cash balance.

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Tyler Okland, MD

@Tyler_Okland_MD

3 years

Here is my deep dive on Unity, where I discuss gaming, AR/VR, Epic, the metaverse, and why Unity $U has become my fourth core holding. I found there is no industry of tomorrow $U will not disrupt. Share and enjoy 👋

Unity Software: The World Engine

Owning the Middle, the Metaverse, and Epic Competition

theoperator.substack.com

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Today is my last day of call as a surgical resident, ever. Although it was a grueling, unglamorous 5 years, I'll probably look back on residency as one of the most formative experiences of my life. @StanfordOHNS , it's been an honor.

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Tyler Okland, MD

@Tyler_Okland_MD

11 months

Doesnt't feel like life will ever be quite the same.

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Tyler Okland, MD

@Tyler_Okland_MD

1 year

Friendly update: Today, Opendoor has double digit listing margins in 37 of 41 markets. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Credit Suisse $24 PT on Opendoor. Interesting note that mentions "widening spreads since the Fall" and that Q1 benefited from only minimal HPA. Who knew!? $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

1 year

Opendoor has sold/under contract on 93% of all homes purchased in November. Adjusted gross margin on these homes? 11%. And every monthly cohort since Nov has a higher margin than this... Don't call it a comeback bc but second half of 2023 looks big for $OPEN 👀

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

This is the best weekday my portfolio has had in a long time.

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Tyler Okland, MD

@Tyler_Okland_MD

1 year

Opendoor is up 130% so far in 2023. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

1 year

First time getting the Sunday paper as a homeowner. Core memory unlocked.

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

We did it 🦾 This is @DatadoorIO - a dashboard for Opendoor transaction data. Beta will be live next week. We can get the first few hundred ppl on the beta. More each week after. Retweet for early access. $OPEN

Datadoor.io - Institutional Grade iBuying data for Everyone.

We collect robust data from on multiple public sources, including Opendoor.com, public county assesors and MLS. Between 2015 to 2024, Datadoor captured over 100,000+ transactions.

datadoor.io

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

BREAKING NEWS: Opendoor is not going anywhere. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

I’m going to share some $OPEN data most people don’t have access to. Q4 earnings are less than 3 weeks away, but as home transactions are public data, you can get a sneak peek (if you know where to look). Let’s dive in.

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

We are in the thick of the worst housing crash of the past half century. Despite this, Opendoor currently has double digit embedded margins (EM) in 45% of its active markets, and positive EM in 91% of active markets. Yup, model's broken, priced for bankruptcy makes sense 👌

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Between April 5-6, Opendoor sold 2X more homes (by revenue) than any two-day period in its history. Seems like consumer demand for simplicity, certainty and speed is alive and well. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

BTIG just released a report today on the underdiscussed power of Opendoor Exclusives, reiterated Buy, PT $15. Oh and they cited @DatadoorIO in the report. We made it Ma!

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Congrats to the Opendoor team on a strong quarter. Intriguing Zillow partnership announced and Exclusives highlighted. No surprises on the numbers. @DatadoorIO estimates were on average 2.8% from actual for homes sold, revenue, gross margin, gross profit, and homes sold👀

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Finalized Opendoor Q1 Estimates are now live on . As a sneak peak, we expect: - Revenue up 610% year over year - Gross profit up nearly 2X sequentially - Adjusted EBITDA up 4X consensus levels $OPEN 🤯

Datadoor.io - Institutional Grade iBuying data for Everyone.

We collect robust data from on multiple public sources, including Opendoor.com, public county assesors and MLS. Between 2015 to 2024, Datadoor captured over 100,000+ transactions.

datadoor.io

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Opendoor's value proposition of speed, certainty and simplicity, coming to a TV near you... $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

In May, nearly 1 in 3 of Opendoor's Austin home sales were closed through their Exclusives marketplace. These homes were sold with no commission and within 2 weeks of listing. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

@dee_bosa I think we can confirm they definitely did not work at Twitter...

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Opendoor has now sold its 200th home through its FSBO platform, Opendoor Exclusives. Conversion rate 7.2%. $OPEN will sell 40k+ homes in 2022. If Exclusives was available nationwide at this conversion rate, I estimate an uplift of $35 - $50 mil to the bottom line.

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

On May 5th Opendoor will announce the business is impressively free cash flow positive. What's my level of certainty? I'm not uncertain. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

5,625 Opendoor transactions so far through the first 20 days of April: - 1,493 sold - 4,132 pending - Sold gross profit margin 14.71% - Pending gross profit margin 16.77% - $2.3 B in revenue booked - $4.4 B market cap What an opportunity. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

8 months

This might be the first Christmas in years a relative won't bother me about Opendoor's stock price.

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

For those curious why Opendoor is running 2X higher than the broader tech cohort today, a large data analytics firm just published their estimates for Opendoor's Q1. And they agree my estimates are conservative. 🤷🏼‍♀️ See you May 5. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

We expect blowout Opendoor numbers for Q1, paired with lower revenue guidance for Q2 (albeit higher quality revenue, higher GPM). No clue how the market will respond, but underlying business has never been stronger. Congrats to the $OPEN team on the early '22 execution.

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Opendoor has a Phoenix problem. We popped the hood to evaluate how the ibuyer is managing this frenetic, hairpin real estate market. Spoiler Alert: there are some problems, but nothing like Zillow Offers Q3 '21. $OPEN

Opendoor: The Phoenix Problem - Datadoor.io

Opendoor has more homes on the market today than any other moment in the 8-year-old company's history. 14,830 homes, to be exact. Spiking mortga...

datadoor.io

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Opendoor has been marked for dead. But the numbers tell a different story. Here's a breakdown of Opendoor's early Q4 performance in one of the deadliest housing declines we've seen. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

1 year

Opendoor's buy-to-list premiums have never been higher. Purchase volumes are ramping. Holding times have been cut in half since April. Oh, and homes are appreciating again? Probably nothing.

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Tyler Okland, MD

@Tyler_Okland_MD

1 year

This is Opendoor's observed gross margin since September (y axis removed for paying clients). Trend is real, people.

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Tyler Okland, MD

@Tyler_Okland_MD

1 year

@realEstateTrent Try this. Top medical schools in America, first year out of school. Congrats, you're an intern! Base salary: $50k Bonus: 😂 And, don't forget you're on 24 hr call every third day and there's no lunch breaks.

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

@AyeshaTariq Wow the army of Kevin groupies attacking you for this post blows my mind

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Opendoor's observed gross profit margin, past, present and future, powered by @DatadoorIO . More profits ahead for $OPEN.

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Will be posting Opendoor’s Q1 ‘22 transaction data tomorrow AM, including - Transaction volume - Gross profit margins - Market breakdown - Holding time trends - Projections for Q1 results Given the share price, my findings might surprise you. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

1 year

As of today, Opendoor's listing margin is the highest it's ever been.

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Opendoor's Q2 net income will be more than double Q1's $28 million. Estimate powered by @DatadoorIO . $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

This week, the difference between Opendoor's buy-to-list premium ('forward-looking' metric) and their buy-to-sale premium ('right now' metric) is 1,700 bps 🤯 This gap has never been wider, and illustrates what's to come. Calling the bottom on Opendoor's margins. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Considering putting our Opendoor transaction algorithm in dashboard beta if ppl are interested. Let me know/DM me if you want early access 🦾

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

They say selling is finance, but buying is romance. This is the story of the secret "start up within a startup" that's putting the romance back in homebuying: Opendoor Exclusives. $OPEN

Game of Homes: Opendoor Exclusives - Datadoor.io

Game of Thrones is the most pirated television series of all time. A dubious honor to be sure, but it speaks to the show’s ability to aggregate de...

datadoor.io

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

1/ Took an hour this morning to examine Opendoor’s progress scaling the 23 new markets launched in 2021. What I found is these markets are beginning to contribute materially to both revenue and profits. Let’s dive in. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

6 months

The number of homes Opendoor listed for sale today is the highest figure since 2022. Things are happening. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Pending sales for Opendoor the past two weeks are more than 2X higher than they were a month ago. Oh, and margins are up too.

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Tyler Okland, MD

@Tyler_Okland_MD

1 year

Update on my Opendoor Thesis: Median price of homes Opendoor purchased in Phoenix, Q2 2022: $476,000 Median price one year later, Q2 2023: $325,000 Opendoor has: 1.) Widened spreads dramatically (500+ bps) 2.) Narrowed buybox to smaller, lower end and easier to price homes.

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

This past week I dug deep into the data to figure out how much home price appreciation impacted Opendoor's Q1 result. The answer surprised me. Introducing Spread: Margin for all cycles. $OPEN

Introducing Spread: Opendoor’s profitability is less dependent on home price appreciation than you...

Opendoor reported earnings last Thursday, blowing the doors off consensus estimates. Massive beat on the top and bottom lines, stellar guidance and...

datadoor.io

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Welcome to Boston, Opendoor! $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Opendoor's pending homes sales pipeline is up 50% over the past month alone. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

3 years

My four favorite stocks are reporting within the next 2 days. I expect some fireworks. $PLTR $U $SOFI $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

1 year

Sunday night breakdown: Today, 96% of Opendoor's active listings are listed at a positive margin. Of the homes listed at negative margin, 93% were purchased PRIOR to 2023. Of all listings purchased in 2023, only FOUR homes are listed at a negative margin. Probably nothing.

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

1/ Opendoor just reported Q4 earnings, but Q1 wraps up in 2 weeks. Let's wheel in the microscope to take a look at Q1 performance in some granularity. Why wait 10 weeks for an earnings call, right? Here’s my data-driven sneak peek on $OPEN ’s current quarter.

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Tyler Okland, MD

@Tyler_Okland_MD

3 years

Whew thank god my wife doesn’t track my portfolio on a daily basis. That said, I’m a buyer today. Same stocks, same thesis, better value. Here’s what I bought this morning: $OPEN $SOFI $PLTR $U

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Opendoor's buy to list (BTL) premium dropped below buy to sale (BTS) in February, the cleanest leading indicator that margin had peaked. Today, BTL is flirting above BTS, which indicates higher margins on the horizon for $OPEN (Q3 timeline). Who knew?

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Opendoor appoints CFO Carrie Wheeler CEO. Eric Wu will transition to President of Marketplace. Wow. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

1 year

@sweatystartup Final Fantasy VII (PlayStation 1 game), The Name of the wind (book), Jimmy John's #9 w hot peppers (sandwich).

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Tyler Okland, MD

@Tyler_Okland_MD

9 months

$OPEN down 10% due to a ruling on buyers agent commissions. More nonsense. Want to clear this up. In general, Opendoor charges a homeseller 5% fee to buy a home. This is usually not a burden for the homeseller, as they would otherwise pay 3% to EACH of the buyer's agent and

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Opendoor's embedded margin across all listed inventory is up 33%... ...over the past 3 weeks alone. Don't call it a comeback.

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

So far in Q3 Florida is Opendoor's largest state by sales volume AND highest margin state. Across the markets of Miami, Jacksonville, Orlando and Tampa, $OPEN's mean gross margin is 14.6%.

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Tyler Okland, MD

@Tyler_Okland_MD

1 year

Opendoor's pending sales pipeline is nearing a new record high. Today's pipeline nearly eclipses the record set in Q1 '22, when Opendoor sold 130 homes per day. Price cuts + buyer demand revival = volume.

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

1/ Real estate is wild right now. Curious about Opendoor’s ability to price a fast RE environment, I zoomed in on 5 of its largest markets: Phoenix, Orlando, Atlanta, Charlotte, Las Vegas Let’s see how $OPEN is tracking home price appreciation in these cities.

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Tyler Okland, MD

@Tyler_Okland_MD

1 year

We've been building 🛠️ Introducing HomeWise, the first AI assistant for residential real estate. Buying or selling a home? HomeWise is like having a real estate genius in your pocket - one that doesn't charge commission.

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Opendoor just launched a marketplace that will permanently change how we buy & sell homes. ...But they also announced their worst quarterly performance ever and guided there's more pain to come. So what's going on? Answers 👇 $OPEN

Opendoor 2.0 - Datadoor.io

I want to start off this article by admitting I was wrong. Not about the quarterly estimates. Frankly, I’m pleased with how close we were given the...

datadoor.io

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Opendoor's percent of Phoenix homes under contract: July 28: 9% Aug 23: 20% Up 1100 bps in 3 weeks. Home sales volume is coming back in a big way. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Opendoor grew its mortgage business by 31% quarter over quarter in Q2. Attach is still quite low, but impressive growth given spiking rates. $OPEN

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

Since 2017, $OPEN has improved adjusted EBITDA margins by 870 bps, and +450 bps in ‘21 despite geometric scale. -Q4 revenue up 14X -Doubled market footprint -Closest competitor KO’d -Record conversion/NPS -80% marketshare -Q1 ‘22 record rev/contribution profit Priced to fail.

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Tyler Okland, MD

@Tyler_Okland_MD

2 years

In the month of June 2022 Opendoor paid $446k per home to acquire inventory. Fast forward to November, the average price was $345k, or $110k less per home. The problem? Opendoor bought 4X more homes in June than it did November.

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