“I will never flip a house.” If you knew me five years ago, prior to HappyHome, when I first entered the real estate game, you know that this was my view on flipping. I wanted nothing to do with it and had zero intention of ever getting into it.
My journey into the real estate world began in 2015 when I got my first “real” job in the mortgage industry at age 22. A family friend was nice enough to take a chance on me; a double college dropout who was driving for Uber. For me, this job set everything in motion to open the real estate door, without me ever planning on it being my path.
Starting Out In The Mortgage Business
I began by getting licensed and working as an assistant on other loan originator’s files. Though my responsibilities seemed mundane upon first glance, I learned all the ins and outs of the mortgage business and home buying.
It made me realize that I needed to buy a house for myself! Since I was in dire need of moving out of my parents’ house, I put together a plan and bought my first house in 2016, with the help of my Dad.
Falling In Love With Real Estate (And My Future Wife)
Fast forward a few months to the end of 2016 and I was now going out on my own as a full-time loan originator. I ended up having a great first year in 2017. Professionally, I built up my network and was able to help many people purchase their dream homes.
I also met, and began dating, my future wife who is in the picture at the top! My expanding knowledge in real estate lend me to buying my second home in 2017, followed by my third home in 2018.
By this point, I was a homeowner, a landlord, and property manager all in addition to my other roles and responsibilities. Having dealt with some difficulties with tenants, I started to focus in on passive investing through apartment buildings in 2019.
It was a lot of fun and seemed like a great way to begin building wealth. I was hooked and began transitioning out of the mortgage business to focus on real estate full time, leaving the business at the end of 2019.
The Phone Call That Changed Everything
About halfway through 2019, I got a voicemail from a buddy of mine, whom I had met while working as a loan officer. He said he had an “investment opportunity” for me to consider. I reluctantly called him, hesitant to hear about the next all-natural nutrition plan. To my surprise, he told me someone he knew needed to sell their home quickly.
There was some financial strain on this person, the home was vacant with some problems, and they had privacy concerns with putting it on the market with a realtor. I told him that I would look into it, but that I likely would pass as I was not interested in flips. I felt that I had graduated to large-scale multifamily investing and therefore had no desire to go back to single-family properties. It just did not make any sense to me.
My First House Flip Was A Win-Win
I ended up looking at the property and conducting an analysis with the help of some experienced colleagues. We realized that the price the seller was asking made sense and that it would be profitable for us as well. It was a true win-win so we decided to move forward with it.
When we started the renovations, we made just about every single mistake in the book. HGTV makes it look so easy! Even so, the property sold and made a profit. It was a ton of fun too! Taking an unwanted property and making it beautiful for someone to build new memories in was very rewarding and we ended up wanting to do more of it!
So we formed a company and set out to try to find more of these opportunities. This is when we realized how messed up this entire industry is.
The Cash Home Sale Industry Is Broken
The number of homes sold annually in the U.S. is typically between 5 and 6 million. The number of properties sold off-market, similar to how we purchased the property above, make up about 5% of the total U.S. home sales (250,000-300,000). Most people never deal in this space because they sell their home the “traditional” way with a realtor.
Therefore, the majority of people do not understand how dark and dirty this space is. I previously considered myself well-versed in real estate, yet I had no idea this space even existed. I call it dark and dirty as it is dominated by manipulative individuals known as wholesalers.
A wholesaler is someone who contracts to purchase a home, then assigns the contract to someone else at a marked-up price. They generally pose as home buyers but never have any intention to purchase the property for themselves. Entering into an agreement in bad faith is how they operate and frankly, it should be illegal. It probably would be illegal if more people knew about it!
Here’s a more detailed article on some of the terrible things that wholesalers do. On top of this, there has been little innovation in this sector of real estate, while the mainstream sector has had tremendous innovation (think Zillow, Redfin, etc.).
HappyHome Is Born
This is why HappyHome was created. HappyHome exists to add tremendous value and better the lives of the people needing to sell their home the non-traditional way. Our mission is to become the absolute most seller-centric way to sell a property AS-IS and every decision we make is done so while looking through this prism.
We were formed amid the Covid -19 pandemic, beginning in early 2020 ,during a very dark time in our country’s history and are seeking to disrupt the darkest sector of real estate.
Our approach is very simple: working directly with a few trustworthy, local, professional home buyers is almost always going to be the best option when someone needs to sell their home the non-traditional way. They are much more nimble than the large homebuyers and are able to make decisions much quicker. Think about how Uber completely changed transportation because they offered a higher quality model than the taxi companies.
We are no different. When you get competition amongst these types of buyers, the seller is able to get the highest price and the best terms. Our job is to hand pick these exceptional buyers and have them join the platform so that when you are on HappyHome, you are only working with the best of the best.
We are incredibly honored and humbled to be able to assist everyone we come in contact with that joins our platform, and are extremely grateful for the opportunity! If you ever have any questions about HappyHome or anything else, feel free to reach out to me at firstname.lastname@example.org. Take care and God bless!