BuildBlock

About BuildBlock

BuildBlock Inc. operates as a global real estate investment platform, aiming to simplify the complexities of cross-border property transactions for a diverse clientele. Founded in 2018 by Jimmy Jung, the company is headquartered in Seoul, South Korea, with additional offices in Silicon Valley, Los Angeles, New York, and Austin.

The firm's establishment stems from the extensive experience of its founder and CEO, Jimmy Jung. His background includes a Master's in Management Science & Engineering from Stanford University and Civil Engineering from UC Berkeley, complemented by prior work as a Project Manager for Google's new headquarters construction. This blend of engineering, management, and large-scale project execution provides the foundation for BuildBlock's service offerings. The executive team also includes CTO Kyongtak Cho, who brings experience from Lyft and Intel, and COO Jiwoong Lee.

BuildBlock's business model is centered on providing an end-to-end solution for investing in, managing, and selling U.S. real estate. The company serves a range of clients, from individuals purchasing homes for relocation or investment to corporate clients expanding into the U.S. market and high-net-worth individuals seeking premium, secure services. The platform facilitates the entire investment lifecycle, including property searches via MLS listings, financial consulting, the establishment of U.S. legal entities (LLCs) for investment, property acquisition, and tax reporting assistance through partnerships with major accounting firms.

Revenue is generated through fees for services such as brokerage, property management, and construction. For property management, the platform includes features for tenant screening, lease management, online rent collection via ACH, and maintenance requests, offering property owners detailed cash flow reports. BuildBlock holds licenses for real estate brokerage in California, New York, New Jersey, Texas, and Hawaii, in addition to mortgage brokerage and general contracting licenses. The company offers both long-term investment strategies focused on rental income and property value appreciation, and short-term strategies like property flipping and ADU (Accessory Dwelling Unit) construction, leveraging its in-house construction team. Since its inception, the company has secured multiple funding rounds, including a Series A in August 2022, and has raised a total of $12.4M from investors such as Quantum Ventures Korea, KB Investment, and Hana Ventures.