Learn about Florida Entrepreneur Timothy Hamilton:
Timothy Hamilton, founder of Rentlit.com, is on a mission to make renting easier for landlords.
"We make renting that much easier by focusing on three categories," he said. "The first is finding good tenants, second is collecting rent without having checks mailed to you every month and lastly, dealing with maintenance issues."
While U.S. real estate is the world's largest single asset, Hamilton saw a market opportunity in the fragmentation exhibited by the real estate support service industry.
"There are players that touch different areas of the space but it’s a huge market," he explained. "Just like Scottrade and similar companies did for equities is what we are doing for real estate. What makes us stand out is we understand at our core we can't limit ourselves to just helping people process payments or do background checks. We need to help people manage their investments specifically in the buy-and-hold real estate investment strategy."
Hamilton's advice to aspiring entrepreneurs is threefold. "One is you don’t have to necessarily be an expert because you will learn it and become one," he said. "What you do need is to be someone who can put on a common sense hat and ask what is the problem I'm trying to solve and can I offer a solution that’s much better than what is out there. Second, you need endurance. Many people have passion but it can fade. What doesn't fade is endurance. You need to have the ability to endure the everyday slog pressing forward toward your objectives. Third, you need some level of self-belief and be able to say you know what you're building is value added and it will help others solve a problem."