Today we’d like to introduce you to Daniel Rubin and Ray Hurteau.
Daniel and Ray, let’s start with your story. We’d love to hear how you got started and how the journey has been so far.
It’s pretty funny that two IT nerds wound up in Real Estate. We both went to Northeastern University for undergrad but didn’t meet until after we graduated in 2007 and worked in IT Security for a large financial services firm in Boston. In 2008, Dan realized that instead of paying rent, he could owner-occupy his first three family – living in one unit with a roommate and renting out the other two units. The income produced by the property covered all of Dan’s living expenses and he was hooked. Ray first entered the world of real estate when he worked with his father as a carpenter’s apprentice throughout high school and his early college years.
We became good friends working together and after Dan’s initial success with his three family he approached Ray and asked if he was interested in flipping a house. We flipped our first three family in Dorchester in 2010 and HRV Homes was born. Since 2010, we have completed $15M in real estate transactions with an additional $15M in 2017/2018.
Overall, has it been relatively smooth? If not, what were some of the struggles along the way?
Real Estate Development isn’t as easy as all the flipping shows on TV make it out to be. Dealing with difficult contractors, unknown surprises and cost overruns happen all the time. Developing in a city has significant challenges as well. Building three feet from your neighbors and getting a lumber delivery on a tiny one way street with cars parked on both sides sure makes it interesting and is definitely fun to watch!
Something not a lot of people may know is we actually lost money on the first deal we did. We were lucky we both had full time jobs at the time to absorb the loss but it was a valuable lesson, learned a ton from our mistakes and vowed never to put ourselves in that situation again and can say that to this day we have not lost money on a deal since.
HRV Homes – what should we know? What do you guys do best? What sets you apart from the competition?
HRV Homes is an investment firm specializing in the acquisition and redevelopment of real estate in the greater Boston area. We purchase the worst property on the street and transform it into a beautiful, one of a kind home. We specialize in developing condominiums in the greater Boston area either by purchasing and renovating existing multi-family homes or building from the ground up.
A ton of time goes into floor plans, choosing the exterior and interior materials and finish work for all our projects. We pride ourselves on hiring great contractors to do the work and feel that it shows in our finished product. We always try to be unique in each project and try to never reuse the same tile, light fixtures etc. In addition, we are always learning about the latest trends in the industry and incorporating them into our projects. Having tech backgrounds has really helped us add cool and unique features in our projects such as Sonos sound systems and a door entry system that rings an app on your phone and allows you to see, talk and let a person in when someone rings your doorbell.
What is “success” or “successful” for you?
Dan – It’s difficult for me to define success. At the end of the day, if I can say I achieved all the goals I set for myself and I continue to love what I do I have succeeded.
Ray – To me, success is doing what you set out to do and honoring what you say you will do. Not cutting corners and respecting those who work with you, for you and who help you achieve your goals.
Contact Info:
- Website: www.hrvhomesllc.com
- Phone: 617-804-5755
- Email: contact@hrventuresllc.com
- Instagram: www.instagram.com/hrvhomes
- Facebook: www.facebook.com/hrvhomes
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