LuxuryProperty Founder Jason Hayes has worked at the cusp of real estate and digital marketing for 35 years and built three successful ventures. All of them are bootstrapped, organically grown, and capital efficient businesses. Here is our discussion from 2023. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from?
Jason has worked at the cusp of real estate and digital marketing for 35 years and built three successful ventures. All of them are bootstrapped, organically grown, capital efficient businesses. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born and raised? What kind of background?
Sramana Mitra: What is your primary use case? City dwellers wanting to buy property outside the city? Paul Hersko: Yes, I would say so. Sramana Mitra: Were you self-financing still at this point?
Sramana Mitra: All of the properties are in Los Angeles? Paul Hersko: In the desert though, like near Joshua Tree. That’s how we started. We just bought a bunch of properties. Sramana Mitra: Why did you choose outside of Los Angeles area?
Sramana Mitra: How do you finance yourselves? Paul Hersko: We have a fund that we run. People can invest in our fund. Let’s say you invest $150,000. We take that money and purchase property with it and provide our investors a return. Then, we sell the land. Sramana Mitra: What behavior are you seeing in
Paul Hersko: Then my entire life changed in 2019. My brother-in-law took me to this party. He said, “I have a good friend who owns this business. He’s our age. You might like him.” I started talking to him. I was learning about his business and he was like, “I have this company where I
Paul and his co-founder have built a capital-efficient PropTech venture using primarily a virtual team. It’s an interesting niche that is largely underserved. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background?
Min Alexander: This business builds one by one. That’s a competitive moat for us. Folks that think they’re going to blast and market, that doesn’t necessarily happen in an industry like ours. It’s taken so long to disrupt it at scale. You need all the components. You need the technology and infrastructure to keep it