Startup Acquisition Stories With Hussein Reda, Founder of Propty

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Here’s a fun stat for you, the homeowner association (HOA) industry in the US alone was worth $38.8 billion in 2023.

Hussein Reda tapped into some of that value during the Covid lockdowns when he created his startup, Propty, to help HOA meetings run meetings and vote remotely.

Pre-Covid, Hussein had just purchased his first property in an apartment building. He learned a lot of maintenance was done through HOAS, aka, groups that manage properties in specific buildings/neighborhoods.

Once Covid hit, everyone was trapped inside and began attending HOA meetings since now they had lots of time to think about their homes. Hussein saw an opportunity, created Propty, and used his HOA as his first free test customer.

Propty went through two years of ups and downs including embarrassing meetings with 500+ members where not everyone could connect. Everything was made more complicated by the fact that HOA meetings only happened once a year.

However, after persistent effort, Hussein secured his first paying customers by mid-2023.

Finally, Hussein sold Propty on Acquire.com in 2024 when he realized he didn’t know how to scale any further. Now he’s working on a project with blockchain technology to facilitate payments for underbanked countries.

Tune into this week’s SASP as Andrew and Husseing discuss:

  • The hidden gem of the HOA industry
  • Why boring businesses are the best money-makers
  • Why Hussein thinks Acquire.com sales beat other online sales forums

Hussien is just getting started and you can follow his journey below:

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