We chatted with Tara Homes founder, Madeline Li, about building an app that helps homeowners in Germany convert home equity into cash. Li was motivated to create the concept of Tara Homes to support the homeowners in Germany who are experiencing financial difficulties. Li has a background in finance and law; she decided to "become her own CTO" and build her app idea herself, using Bubble's no-code platform.
Tell us about your app and what it does.
Tara Homes offers homeowners in Germany the option to convert up to 20% of their home equity to cash today in exchange for a slice of the home appreciation in a 10-years timeframe. We differ from traditional lenders in Germany because we offer an investment, instead of a loan, which means no monthly repayment, no interest.
How does your app work?
A new user goes to our website and clicks on a button "Is Tara Homes right for me?" to check if he/she prequalifies for our investment. Once confirmed, the user can submit an application directly online. Our investment manager will then assess the case and make an offer. If the user is happy about the offer, we will schedule an appraisal appointment. We transfer the money to the user shortly after the customer, and we sign the contracts in the office of a notary public.
Tell us a little about your background and how you discovered no-code tools like Bubble.
I have a background in finance and law. Having been working with various startups in the past few years, software, hardware, and fintech, I have decided to start my own company to support homeowners having financial difficulties in Germany. I discovered Bubble from a friend of mine who used Bubble to start his companies three years ago and has been rather successful since then. My friend, the fantastic Daniel Abebe, is also a trainer with Bubble, and he spoke very highly of the platform, so I decided to give Bubble a try. Four months later, I couldn't be happier with my choice.
Why did you build your app on Bubble?
As someone with a background in finance and law, my options were rather limited: either pay someone a lot of money to develop a really good site or pay someone not so much money to develop a bad site. I decided to go with the third, which is the slogan of Bubble: be your own CTO. That really spoke to my heart.
What have been your milestones or successes so far?
The biggest milestone so far is bringing a fully functioning app ready within 12 weeks with a very limited coding experience.
What are your future plans for your app?
I plan to have the first 100 customers within 12 months and develop the app further.
Bubble is a leader in the no-code movement. Bubble offers a powerful point-and-click web editor and cloud hosting platform that allows users to build fully customizable web applications and workflows, ranging from simple prototypes to complex marketplaces, SaaS products, and more. Over 400,000 users are currently building and launching businesses on Bubble - many have gone on to participate in top accelerator programs, such as Y Combinator, and even raise $365M in venture funding. Bubble is more than just a product. We are a strong community of builders and entrepreneurs that are united by the belief that everyone should be able to create technology.