Today we’d like to introduce you to Daniel Riceberg.
Daniel, can you briefly walk us through your story – how you started and how you got to where you are today.
I started out as a loan officer in 2003 working for my old college roommate. He was a branch manager at a national brokerage company. We actually worked out of the house he grew up in Yorba Linda after he bought it from his parents.
Those were good times learning the industry and we were able to catch the beginning of the boom in the real estate market. Apparently, our little branch did pretty well and we became a bank in 2005. It didn’t take long before we started acquiring our own properties and flipping them to investors.
The market was so good back then, everyone was making money. When the economy crashed our credit line went out the window. That was a tough time for me, however, it made me learn to deal with adversity. I ended up getting my brokers’ and banking license and started my own online mortgage shop called Shooploop. It was supposed to be something like Rocket Mortgage is now, but I didn’t have the resources or the capital to get it going so it was just me on the phone when you called.
It was okay but I started losing business to bigger banks even though my rate and costs were better. I learned people didn’t like the fact I was unknown. They rather go with a bigger name, even if they were getting a bad deal. The trust was completely gone between borrowers and lenders. Knowing the business wouldn’t last, I slowly started building up assets with key partners and brought everything in-house. Shooploop became the sole brokerage for BDR Cascadia, which is a holdings company I own with my friends.
We’re always bombarded by how great it is to pursue your passion, etc – but we’ve spoken with enough people to know that it’s not always easy. Overall, would you say things have been easy for you?
Nope, but I’ve learned to like the bumps in the road. Keeps me focused and allows me to grow. What is that Jay Z quote? “A loss ain’t a loss, it’s a lesson.” I agree with that.
We’d love to hear more about your business.
I now focus on my own projects. I hardly use my brokerage anymore to do outside deals. I think what separates everything I do opposed to what other people in the real estate industry is implementing new technology. My team and I are developing a community-driven, self-sustaining investment platform comprised of multiple real estate developments all on the blockchain. We call these developments, “Block Parks.” It allows for the people who live and take part in the community to also have an ownership interest.
It takes the term “having pride in your community” to a whole new level. A level where you can actually get paid to be part of your community. I’m super proud of it and think it can change the way people invest in real estate moving forward. At the end of the day, it’s all about the community where people can engage with one another and ideas can be generated. That’s how I came up with Block Park. I was at Spring St Bar downtown and my friend invited me to have Torah lunch. The rest is history.
What were you like growing up?
I wouldn’t even recognize myself now. Physically and the way I am is totally different. I guess you can apply that to everyone. The one main thing that has stayed consistent is I’m a pretty positive person. Always have been. Easy going too, I think.
- Website: www.Shooploop.com
- Email: email@example.com
- Instagram: @shooploop_inc
- Facebook: https://www.facebook.com/Shooploop-227378610733198/?ref=bookmarks
LGA Architectural Partners, Chad Jones Photography