Former Bitwise co-CEO Jake Soberal is selling a rental property in the wake of the Fresno-based real estate and tech company’s collapse over the last few weeks.
Soberal’s decision to sell comes just months after he purchased the house, which occurred as he engaged local Valley business owners for hard money loans to keep his business afloat.
Driving the news: According to Fresno County records, Soberal purchased the house located at 509 E. Weldon Ave. – directly north of Fresno High School – on March 29.
- He paid $310,000 for the house, which had previously sold for $190,000 last November and had been recently remodeled and updated.
- Soberal listed the house for sale on June 2 for $320,000, and the sale is now in escrow.
- Soberal’s purchase of the home, which is described in its current listing as being a “successful active Airbnb listing,” occurred in the midst of his pursuit of cash from Valley-based hard money lenders, which stretch back as far as early March 2023.
State of play: Soberal’s decision to sell came just days after Bitwise furloughed its 900-person workforce across the nation after months of significant financial issues came to a head.
- Soberal and co-CEO Irma Olguin were both fired by the Bitwise board on June 2, the same day he listed the 98-year-old house for sale.