BUILDING THE PERFECT SUNDAE
of these houses and get them back into the hands of homeowners or renters who needed a better place to live.” After his time as an investor and private lender, Stech set his sights on applying his experience to the venture-backed startup world and became Founding Partner and SVP of Sales for the team that would go on to build LendingHome, an online mortgage bank specializing in short- term residential bridge loans. During his time at LendingHome he helped the company outperform veteran competitors as the company scaled to 350 employees and $150M in ven- ture funding, becoming the largest player in the space.
of the seller market in a way that also benefited the small business owners in the property investing space that he’d grown to know over the years. “After being in this business for 10 years and getting to know thou- sands of property investors and real estate agents, I realized that sellers of dated or damaged homes needed a platform, marketplace, and an ally to help them broadcast their proper- ty to a wider audience,” Stech said. “They needed someone to package it as an investment, in a way that only property investors would under- stand, in order to get the most offers, best terms, and highest price.” The solution would become known as Sundae, which Stech described as
With more than a decade of expe- rience in the property investing busi- ness across acquisitions, renovations, and lending, Stech saw a new focus area that needed attention. He real- ized there was a big opportunity at the beginning of the fix-and-flip trans - action value chain to assist home- owners looking to sell. He saw how often people with a dated or damaged home were dealing with a hardship that required a quick sale. For many sellers, fixing up their home was impossible, leaving them with few options at a desperate time. Stech saw an opportunity to change that. His vision was to help what he per- ceived to be an underserved segment
Sundae’s leadership team pictured left to right: Madhav Ranjan (SVP, Product & Engineering), Shane Steele (CMO), Josh Stech (CEO, Co-founder), Beth Sallomi (VP People), Marc Geredes (SVP, Lending Operations), and Kartik Ramachandran (CFO & COO)
16 | think realty magazine :: august 2021
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