Colin Wiel, Chairman, CTO and Co-Founder of Mynd Property Management, recently sat down with Jeff Large, host of the Jeff Large Podcast. Wiel discussed how technology has disrupted real estate investing and property management. He also shared his experience as a technologist and serial entrepreneur.
Since leaving his first job out of college at Boeing, Wiel founded five companies. At Boeing, his career took off quickly after inventing a new algorithm for controlling anti-lock brakes in airplanes using AI.
Wiel Moves Out of the Corporate World and Into Consulting
Eventually, Wiel moved out of the corporate world to become a software consultant. This gave him the ability to work for different companies and projects that interested him. At the same time, it gave him the ability to travel the world.
Wiel also consulted at Netscape during the time when the Java programming language was born. This led to an opportunity at the University of California, Berkeley where he developed the Java curriculum and founded a Java programming company.
Wiel Joins Doug Brien to Start Real Estate Investing and Property Management Firms
After selling his Java programming company, he started investing in real estate, thanks to his friend Doug Brien’s advice. Together, they started identifying inefficiencies in the market. When the 2008 financial crisis happened and the house market crashed, Wiel and Brien saw an unprecedented opportunity.
That opportunity was in the rental real estate market. They started buying homes in the far corners of the East Bay. Despite push back from a number of real estate investors and industry experts, Wiel was confident that their idea would work.The pair created a scalable platform for buying and managing single-family rentals nationwide, Waypoint Homes, a publicly traded single-family rental (SFR) REIT.
Their collaboration continues to this day at Mynd, where they are C0-Founders of the three-year-old, Oakland, CA-based startup. Brien currently serves as Mynd’s CEO as well.
To hear Wiel’s full story, download the Jeff Large Podcast.