Today, Ted Bauman lives in Atlanta GA with his family, where he works as the editor of several publications under Banyan Hill Publishing, most notably, Alpha Stock Alert, The Bauman Letter, and Plan B Club. Prior to beginning his career, which has spanned the course of three decades, Mr. Bauman moved to South Africa as a young man, attending the University of Cape Town. After garnering degrees in History and Economics, Ted Bauman began working in the nonprofit sector as an executive, during which, he was responsible for a variety of world-changing initiatives, including Slum Dwellers International, which has helped millions of people since its inception. After spending 25 years abroad, Ted Bauman returned to the United States, gaining employment with Habitat for Humanity, where he operated as the Director of International Programs. Shortly after, Ted Bauman opened another chapter in his career, entering into the world of financial writing at the behest of his father, Robert Bauman – a former United States Congressman. Since joining Banyan Hill Publishing in 2013, Mr. Bauman has experienced a renaissance in regards to his career – a time in which he describes as his happiest period.
At Banyan Hill Publishing, Ted Bauman focuses on teaching his audience the intricacies of asset protection and wealth management, and despite entering into a new field five years ago, his business began turning a profit almost immediately. In order to breathe life into his ideas, he utilizes his critical thinking skills to simplify topics such as finance and asset protection, often injecting practical examples into his writings. In his estimation, it is his job to add value to the team at Banyan Hill Publishing by touching on “essential topics in a way that makes people want to read more.” Recently, Mr. Bauman has noticed a growing trend among his readers, as they are now questioning the motives of their government, as well as their traditional relationships concerning the country’s largest corporations. This newfound approach to government by his readers has essentially sparked a movement in which solutions are being sought out by ordinary people who’d traditionally been silent on such matters.
Forbes was recently allowed a rare look behind the scenes at GreenSky Credit. This financial tech company has been quietly building quite a portfolio in an oddly shaped basement in Atlanta, Georgia. Dozens of employees buzz about the open space perfecting a smartphone app for contractors.
Contractors aren’t generally the target of tech startups. But founder and CEO David Zalik bet on contractors to be the key in opening one of America’s prized demographics — homeowners. His bet paid off resoundingly and now he sits on a $2.5 billion fortune.
The smartphone app is rather simple yet astoundingly brilliant. It allows everyone involved to get exactly what they want. Contractors get more work, homeowners get the house of their dreams, banks get reliable loans and GreenSky Credit gets a financial piece of it all.
Contractors are better able to drum up work by promoting GreenSky Credit’s services. The services come via a smartphone app that homeowners can easily use. They choose a particular home renovation loan and are approved in minutes. Contractors then soon show up to begin renovations on the homeowner’s dream house. So far, everybody wins. But here’s where it gets really brilliant.
GreenSky Credit does not lend their own money. Instead, they take their prime loan seeker’s information to the bank. The bank then issues the loan and assumes all responsibility. David Zalik has figured out a way to make money without assuming any risk.
Everybody in the equation ends up paying GreenSky Credit. Contractors are happy to share 6% of the loan amount with the financial services company. And, of course, homeowners pay the contractors. A portion of which eventually ends up in the pockets of GreenSky Credit. Finally, the banks share 1% of their spreadsheet at the end of each year.
What’s even more impressive about this company is the founder’s story. David Zalik didn’t even finish high school but took out $10 million in loans to start his company. He eventually attracted investors before recently filing a confidential IPO with the Securities and Exchange Commission. His company is projected to make $500 million in revenues in 2018 alone.