Eric Mager
Who are you and what do you do?
I’m Eric Mager and I’m the founder of Bundle, which is an anonymous mortgage shopping site. Bundle is the simple way to compare mortgages. Other online mortgage sites sell your phone number and you can receive more than 40 cold calls in just a few weeks. It’s a terrible customer experience, but Bundle is completely different. Homebuyers stay completely anonymous on our site. No cold calls at all.
What did it take / how did you get started?
I jumped out of the plane headfirst. I’ve been in leadership roles at some of the largest mortgage lenders in the country and when I first thought of the concept of Bundle, I couldn’t stop. I had an amazing job at a great company, and it was hard to leave the team, but Bundle was something that I had to do.
What does the future look like for you and your hustle?
We’ve really started to hit our stride and its really fun right now. We brought Marco Burgarello to the team last year as our Head of growth, and that has been such a great move. We have some upcoming pilots with some of the largest banks in the US. Our focus is to be the leader in mortgage shopping.
What drives / motivates you?
Helping homebuyers. When a person buys a home, it’s like a feeding frenzy of people that want to get a piece of the transaction. There are a lot of bad actors and bad advice out there.
What advice would you give someone interested in doing what you do?
Don’t try and keep your idea a secret. Talk to as many people as you can as early as possible.
What has been the hardest part of the hustle?
The hardest part for me is leaving Bundle at the door when I come home and giving my kids undivided attention. I hate it when I catch my mind wondering when they are trying to show me a cool Lego they built.
What are a few resources that you'd recommend?
I read a lot. Here are a few books that have helped me in different ways:
E Myth Revisited is a must read for starting and running a business of any size.
The Elements of Style is a great book that helps you become a better writer.
Shoe Dog is an awesome founder story and was a huge motivator for me.
1,000 Splendid Suns is a great book for perspective.
The STATS
Side or full-time hustle?
I immediately started full-time and have never looked back.
List the founders
Technically, just me, but my wife has helped at every step of the way. Now, I lean on Marco a lot. I consider them both co-founders.
How many hours a week do you work on this hustle?
I’m all in.
# of Employees?
2 full time employees
When did you start?
April 2018
How much did it cost to launch?
Not disclosed.
What were your funding methods and ballpark amount raised?
We bootstrapped for the first year. We participated in the Queen City Fintech Accelerator and they give you $40,000 as part of the program. We also and raised a small pre-seed round last year.
Annual Revenue?
Not disclosed.
Projected Revenue?
Not disclosed.
Any call to action?
If you are thinking of buying a home and need a mortgage, we’re at bundleloan.com. A good way to start is by taking our home price evaluation, which is an easy and fast way to figure out how much home you should buy. When you’re ready, we can connect you to multiple lenders in your area without the annoying cold calls.