Jeremy and Joshua Mathis, 25-year-old identical twins, founded Freedom Cash Home Buyers, a company that buys homes for cash.
“For us, we just saw a need in our community,” said Jeremy Mathis. “We struggled with these problems and we thought we were the best people to help our community.”
The brothers grew up in a home where their mother faced foreclosure several times, and their grandmother experienced trouble with taxes. They started to work at an early age in order to help their mother. Seeing their mother and grandmother go through the situation of almost losing their homes, Mathis said, made them go into this business.
“Most home owners don’t know they have different alternatives as opposed to losing their house to tax auction or foreclosure,” Jeremy Mathis said. “They don’t know that we will buy their homes in any condition. They think their homes are not in the best condition and nobody will buy it; but we will buy it. Even people that have their homes inherited to them, they just think ‘I don’t want to pay the mortgage’ and they just end up losing it and not gaining anything from it. We will buy homes in any condition or location.”
Bigger Pockets, an online resource for real estate investors, says that in real estate these days, cash is king. “Investing in real estate with cash is less risky, and since it’s a readily available resource, it provides flexibility, stability, and basically forms a solid foundation for your portfolio,” reports the website.
Going forward, the Mathis twins want to take the business to a higher level.
“We just want to grow the business and become a nationally known brand for helping home owners,” Mathis said.
The brothers were born and raised in Miami Gardens by a single mother, who had a total of five children. They went off to Nova Southeastern University, where Jeremy majored in finance and minored in sales and Joshua double majored in marketing and business management. While still in college, the brothers started their first business, which was a clothing line, which failed. Afterward, they began a promotional marketing company, which Mathis described as mediocre. After graduating with honors in 2013, the brothers started a dental office cleaning company, through which they struck success and sold last year. Over the past two years, they have been investing in real estate and helping homeowners through Freedom Cash Home Buyers.
“They can’t pay their mortgage or taxes and we come and help them,” Mathis said. “We buy the house from them and they walk away with money in their pocket.”
Now, Freedom Cash Home Buyers, which is registered as Freedom Source LLC, has an A- rating with the Better Business Bureau. It also does business asAVA Investment Properties.
Freedom Cash Home Buyers beginnings were not easy.
“When we started, we maxed out our credit cards and we took out $120,000 in debt to start the company,” said Mathis. “Last week, we actually paid off all the debt by buying and selling real estate, and using the profits to continue to pay off the debt. We’re out of debt now.”
The company buys any kind of house in any kind of condition. The worst home they’ve ever bought was a three bedroom, one bathroom house in Fort Lauderdale.
“It was owned by a hoarder and you couldn’t even walk through the house without stepping on something,” Mathis said. “There was a huge hole in the roof. It had mold, it was insect infected. It was really, really bad.”
Due to their experiences growing up in Miami Gardens, last month, the brothers partnered with Miami Gardens Mayor Oliver Gilbert III to host “Recess in the Gardens: End of the School Year Community Fun Day,” an event that kicked off summer break for children.
“To be able to partner with the city that raised us was really big for us,” Mathis said.
They also have a few other real estate goals in mind.
“We want to develop a lot of affordable housing in the United States, especially in Miami,” Mathis said. “Miami-Dade and Broward counties are pricing people out of the market. We want to build affordable homes and places to stay throughout the nation. That’s something we really want to do.”
As of now, the brothers have a piece of land in Miami that they’re keeping an eye on to build affordable apartments on. In Opa-locka, they are working on developing a multi-unit building that several families will be able to rent.