Colton Pace, CEO and co-founder of OwnWealth, shares innovative strategies for homeowners and property owners to enhance their savings and advance their investment portfolios. The first avenue OwnWealth focuses on is reducing property taxes, which is the second largest expense associated with a home. They help homeowners file tax appeals and protests to lower their tax bills, and also assist in qualifying for tax exemptions. OwnWealth also offers a tax payments product to help property owners pay their tax bills on time and take advantage of early payment discounts. Another area they focus on is insurance, providing a rate monitoring program to help homeowners find the best insurance rates without receiving unsolicited spam emails and phone calls. They also help homeowners reduce their utility bills, such as phone, internet, security, and electricity bills. Lastly, OwnWealth helps homeowners optimize their wealth by being astute managers of their assets, paying attention to bills and expenses, and staying on top of opportunities to decrease expenses and increase investments.
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Main Points:
- OwnWealth helps homeowners reduce property taxes by filing tax appeals and protests, and qualifying for tax exemptions.
- They offer a tax payments product to help property owners pay their tax bills on time and take advantage of early payment discounts.
- OwnWealth provides a rate monitoring program to help homeowners find the best insurance rates without receiving unsolicited spam emails and phone calls.
- They assist homeowners in reducing utility bills, such as phone, internet, security, and electricity bills.
- OwnWealth helps homeowners optimize their wealth by being astute managers of their assets, paying attention to bills and expenses, and staying on top of opportunities to decrease expenses and increase investments.
Connect with Colton Pace:
- colton@ownwell.com
- http://www.ownwell.com
- https://www.linkedin.com/in/coltonpace/
Biography of Colton Pace:
I went back to school to get my MBA at UCLA, like many others do to catalyze a change in my career. Going into business school I wanted to start a company and hopefully find some incredible cofounders. Lucky for me, I did exactly that. At orientation, before classes even started, I met Frank, arguably the most committed entrepreneur in class. We hit it off early both coming in with a plethora of business ideas. We fed off each other’s energy, competing in pitch competitions, winning multiple with multiple business ideas. At a UCLA law school pitch competition event, nervous Colton, stood up and gave the early spiel on how broken the property tax system is across the country. According to Joseph, in a super monotone boring way. Lucky for us, Joseph was listening regardless and had his own serendipitous story that led to the 3 of us chatting at the end of our event. Over the next few weeks, Joseph, Frank and I met several times to discuss how we could begin to work on an MVP (minimum viable product) of an automated property tax appeal solution. We thought it was going to be easy. Over the next few months, we built out the business plan, threw up a gorgeous Wix website, won a $10K in a pitch competition and had our first few customers sign up in the spring of 2020 right as COVID hit. Everytime we spoke about the problem we were aiming to solve, customers signed up on our sketchy website. We knew we had something. We formally incorporated RealAppeal Technology Solutions, Inc. in June of 2020. (RealAppeal, Inc. was taken) We used the prize money to send our first batch of mailers to customers in King County, Washington that summer. Frank spent the whole summer heads down building, Joseph was ingesting and building data pipelines and figuring out how to generate PDF evidence packets, and Colton was filing and attending appeal hearings for hundreds of customers by the end of 2020. Our escalation of commitment only continued from there, getting better and better month after month as it still is today