The BOXABL CASITA Waitlist is about to get A LOT SHORTER
Today we need to check in on the recent news out of Boxabl.
This is a company that seems to present a non-stop parade of news while they continue on their mission to significantly lower the cost of home ownership for everyone.
Obviously, this is a mission that resonates with a lot of people because they’ve managed to gain almost 500,000 followers on Instagram, which to my knowledge makes them the most followed modular home company on the platform.
Introduction to Boxabl
Boxabl is very early in this new segment of homes that is focusing on standardized small builds to improve affordability and output to be able to deliver as many homes as possible. So far, it seems to be working out.
If you’re one of the almost half a million people following their social media, you’ve seen a constant stream of box builds lined up outside their factory ready to be shipped out to customers.
Addressing the Skeptics
Even though things appear to be going extremely well for the company, I do see the comments claiming they’re a flash in the pan or you can’t actually get one of their homes.
So I think it’s time to check in once again to see what they’re currently up to.
What I’m going to do is check out the very latest news from Boxabl and let you know why I think anyone waitlisted might not be waiting as long as some people think. So let’s do it!
What is Boxabl?
If you’re brand new to my post and have never heard of Boxabl, their modular home company builds 375 square foot casitas that ship compact and fold out on site.
It’s a completely new way to ship and set up a home, and I think that alone got people’s attention. But what kept it is their price.
The Boxabl website still has their flagship model, the Casita, listed at a hair under $50,000, and in today’s market, that has people excited AF.
The Waitlist Issue
The main issue people seem to be having right now is actually getting their mitts on one because Boxabl currently has a waitlist of around 100,000 people.
If you’re at the end of that list, given their current output, you might as well put your name on Elon’s waitlist to move to Mars while you’re at it, and it’ll be a crap shoot to see which one comes first.
Boxabl’s Progress and Future Plans
I’ve been following this company for a while now, and one thing I’ve noticed is they get things done. There are quite a few new companies with similar but different products threatening to enter the space, but so far I haven’t seen any that can execute quite like Boxabl. To be fair, Boxabl did have a big head start. The first post about the Casita dates all the way back to 2017, and they were probably working on it years before that. So this is a perfect example of what Bezos was talking about when he said all overnight success takes about 10 years.
First Mover Advantage
Other companies trying to come out with something to compete aren’t necessarily moving slower. In fact, they’ll probably do it faster now that the market’s been proven, but they’re literally years behind. Right now, Boxabl has the first mover advantage and a lot of momentum, so at this point, I think they’ll be hard to catch, especially given some of the recent news.
New Investment Opportunities
On April 1st, it was announced that the general public could begin investing in Boxabl if they had a minimum of one thousand dollars to invest via a Regulation A crowdfunding offering. This has nothing to do with whether you should or should not invest in Boxabl because I’m not qualified to give that advice, but I do find it interesting why they’re raising the money.
Building a New Factory
If you go into the investment offerings, one of the first things you’ll see is the reason they’re raising money is to build a $1.07 billion factory, which I personally think is already under construction based on some of founder Galliano’s Instagram stories. Beyond that, they plan to expand the company worldwide using other people’s money with a factory partner model. So far, they’ve had 100+ partners indicate interest in opening their own Boxabl factory, including interest from almost every major country.
The Timeline for New Factories
Great plans, but enough factories to even put a dent in the waitlist seems like it’ll be years down the road, or will it? I’m starting to think it might not take as long as I originally thought. In the investor section of their website, there’s a project summary from 2020 by Porsche Consulting titled “Building Houses Like Cars.” It outlines how to set up a factory and, more importantly, how long it takes.
Projected Timeline
At the end of the report, there’s a chart that projects from the site selection to the start of production should take eight months. So new factories could be as little as eight months away as soon as they start signing on factory partners, which could increase output by 100x based on their current interest alone.
Current Production and Future Goals
Speaking of output, on January 14th, the founder of Boxabl stated at that time they were building one home per day. At that point, it had only been three months since they first finished Boxabl Casita one and two out of their first factory. So I think it’s safe to assume that their output has increased more than one a day since that time. I’ve been seeing marketing for one home every 90 minutes, which leads me to believe that’s the ultimate goal for the first factory.
Production Projections
If the factory is running 9 hours daily, that works out to 6 homes per day, 30 per week, and 1,560 per year. A far cry from filling every order on the waitlist, but here’s how I think they’ll be rolling it out:
- Step One: Get the first factory up and running to prove the concept, gauge demand, and fine-tune the process. That’s now done.
- Step Two: Build the $1.07 billion factory that I mentioned I think is already in the works and, according to the Porsche Consulting report, should be done within eight months. This second factory will be where they further fine-tune their systems and processes after learning from the first factory before they bring on the factory partners.
- Step Three: Bring on factory partners. Since the factory partners will be using their own money, they’ll be able to build multiple at once, and I think that’s when things will really ramp up.
Strategic Investment from D.R. Horton
The big question becomes when will the process be fine-tuned to the point it’s a well-oiled machine and they’ll be ready to bring on factory partners because I think people will be lining up to be part of the company based on the current demand we’re already seeing. The more I look into it, the more I think the wait list won’t take as long as some people think.
April 28th Announcement
But the news doesn’t stop there. On April 28th, Boxabl announced they had received strategic investment from the nation’s largest home builder, D.R. Horton. In addition to the investment, the company also made a large pilot order of Casitas and plans to help Boxabl in product development, sharing resources, and providing valuable feedback on product deployment.
The Potential Impact of D.R. Horton
I have to be honest, before this announcement I had never heard of D.R. Horton. In fact, when I saw it, I thought they were talking about someone called Dr. Horton, and I wasn’t sure why it was important. It wasn’t until I looked into the company a bit that I realized just a few of the possibilities and how this could help Boxabl’s business.
D.R. Horton’s History
D.R. Horton broke ground on their first home in 1978 and has since built over 910,000 homes. Since 2002, more home buyers have chosen D.R. Horton than any other national builder. Their team of operating experts is spread across 32 states in 104 markets, so I think it’s pretty safe to say they know what they’re doing.
Potential Synergies
Where things really get interesting is they currently have four brands under the D.R. Horton umbrella, including D.R. Horton America’s Builder, Express Homes, Emerald Homes, and Freedom Homes, which they say combine to provide a home for every stage of life. My theory is Boxabl could fit into their business model in a couple different ways:
- Accessory Dwelling Units: This is the most obvious. D.R. Horton is already building homes, so maybe the Casita will be an upgrade they offer as a secondary residence on properties they’re already building.
- New Brand Addition: Maybe they want to add a fifth to the family of brands in order to be able to provide homes at an even wider range of price points and configurations.
Conclusion
The more I look into Boxabl and their recent developments, the more optimistic I become about the future of their waitlist. With strategic investments, new factory plans, and a growing interest from potential partners, it seems like the wait for a Boxabl Casita might not be as long as originally anticipated. Stay tuned for more updates as this exciting journey unfolds!
