Kevin Paffrath's real estate startup has renamed itself Reinvest and bolted a software business onto its property portfolio, a neutral-to-positive shift for its shareholders.

• The company still buys fixer-upper homes and builds backyard units, but now also sells AI tools that scan a county for underpriced houses and estimate repair costs and resale value.
• A second tool does the same for stocks, scoring balance sheets and earnings calls to produce price targets.
• The balance sheet is roughly $100 million, mostly real estate, with about $16 million in cash and no bank debt — leaving room to buy more if rates drop.
• A new funding round is being considered for the fourth quarter, likely with a preferred dividend attached and priced above the last round.
• An IPO is still penciled in for 2028 to 2030, later rather than sooner, to let convertible debt and preferred shares turn into common stock first.

Outlook: Expect a capital raise in the next few months and a push to sell the house-hunting AI to brokerages, which could pull the IPO timeline forward if it takes off.