La Rosa Acquires Real Estate Brokerage Franchisee in California

Launching La Rosa’s multi-level revenue share plan in California intended to empower realtors with a unique income stream

Ninth franchisee that has been acquired since IPO

Reaffirms target to generate $100 million of annualized revenue as a 2024 exit run rate

Celebration, FL, March 20, 2024 (GLOBE NEWSWIRE) -- La Rosa Holdings Corp. (NASDAQ: LRHC) (“La Rosa” or the “Company”), a holding company for five agent-centric, technology-integrated, cloud-based, multi-service real estate segments, today announced that it has completed an acquisition transaction and now holds a 51% interest in the Company’s franchisee - La Rosa Realty California LLC (“La Rosa California”), located in Hayward, California, with a separate branch in Los Angeles, California.

The acquisition comes as part of La Rosa's strategic expansion plan and brings its previously announced La Rosa’s Ultimate Plan to California. The Ultimate Plan is a four-level revenue share model intended to create a sustainable and lucrative income stream for real estate professionals. This model allows agents to generate earnings not only from their direct referrals but also from the referrals brought in by their recruits.

Joe La Rosa, CEO of the Company, commented, “We believe that California’s dynamic real estate market presents exciting opportunities for growth and expansion. In California, home prices have surged by 11.4% year-over-year as of February 2024, reflecting market demand. Despite this surge in prices, the number of homes sold has increased by 8.1% year-over-year as of February 2024, indicating a competitive market environment. We remain committed to enhancing our service offerings and strengthening our position in the real estate industry. We believe that our Ultimate Plan offers unparalleled opportunities for agents to thrive and succeed in the competitive real estate market. With the strength of our innovative offerings and the expertise of our dedicated agents, we believe that we are well positioned to capitalize on the opportunities presented by California's real estate market. We anticipate that our accretive roll-up strategy will propel us towards achieving our annualized revenue run rate target of $100 million by the end of 2024, with the expectation of attaining profitability in 2025.”