the short term model is predicated on managing inventory like a retailer and diversifying holdings like a trader. mastering both functions, let alone one, is very challenging, but far from impossible. if opendoor can acquire data and predict transactions better than competitors, the mountain top becomes eminently more climbable. from a portfolio perspective, the early stages are actually the least risky because opendoor can cherrypick the best real estate markets, and within those markets, cherrypick the best homes, where "best" means the properties most likely to sell quickly and profitably.
the long term vision has not been articulated, but it seems like opendoor could grow into a platform for homes much like amazon is a platform for consumer goods. opendoor would provide the buyers, product guarantees (e.g., home inspections passed), the open house experience, and predictive analytics (e.g., home X has a 80% chance of turning over in 30 days if priced at $1M) while others manage financing and inventory risk. if this conjecture is right, look for opendoor to (a) lower prices and (b) streamline real estate transactions with automation where possible and where not possible, to empower untrained (i.e., cheap) individuals with computer vision and smart software to perform tasks like certified professionals. if neither happens, consider the conjecture wrong. :)