Sridhar Samudrala, Founder of Hecta, out of passion of real estate dived into a much difficult sector.
What led to Hecta was a personal purchase from the Bank and experiencing the whole process of bidding and owning a distressed property first hand.
A market of real estate which is not tapped to it’s potential due to lack of knowledge and also due to a fear of getting scammed!
Sridhar breaks all the myths and educates us through the distressed property sale through banks.
He talks about how he created his core team and how they stress on getting on people with fresh mindset and put them through rigorous training and certification making sure that every team member is well-versed with recovery and government norms.
Their mission is to bring transparency in the resale of properties that are with the bank.. Why are they at a discounted rate? Is it safe to buy from a bank? Is it safe to buy a property that has been sealed and is being auctioned to recover the money? For whom is this market?
Sridhar truly believes that the India’s credit system needs to be promoted to judicially protect the lender.
Major challenge that they faced while building Hecta, to get onboard with Banks to help them recover the money through a tech based process, making it transparent and more trustworthy.
How Hecta is using the tech to speed up the process of finding the right property for buyer based on their choices?
Their secret sauce of Business Growth since their inception in 2022.
What is the difference in distress sale in metro and tier 1,2,3 cities?
Listen to episode to understand more about distress properties and how safe they are to invest and own!
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