Tech Nest: The Proptech Podcast

This episode is a bit different. I recorded this as an episode for the Triple Win Podcast with Andrew Smallwood, VP of Revenue at Second Nature. So today, I'll be playing the role of guest and Andrew is host. Enjoy this fun discussion on where proptech is headed.--From the Triple Win Podcast:Few things have changed the property management industry more in the last five years than a growing proptech industry, but that industry continues to go through changes of its own. Nate Smoyer, host of the Tech Nest Podcast, joins Andrew Smallwood to cover the state of the proptech industry, where things could be headed, and how it’s all likely to affect you as a property manager. More about Andrew and Second NatureSecond Nature has created a new category with its resident experience platform for professional property managers. They work with 1,200 management companies and are the only 3-time NARPM (National Association of Residential Property Managers) national vendor of the year. Their industry-leading suite of resident rewards, credit building, ID protection, filter delivery, utility connection concierge, insurance, and more are helping professional property managers make resident experience their competitive advantage.Follow Andrew on TwitterConnect with Andrew on LinkedInFollow Second Nature on TwitterCheck out Second Nature

16 Aug 202439min

Join me as I chat with Ben Lerner, Managing Director of Lerner Associates, about M&A in the proptech industry. Ben shares his unique insights from his background in tech and real estate, focusing on the importance of licenses and the evolving dynamics of user licensing. We discuss the differences between M&A and venture capital markets, highlighting the active M&A scene despite tougher capital raising.Ben advises founders to prioritize metrics, build relationships with potential acquirers, and remain open to opportunities. He emphasizes customer retention and profitability as key for potential buyers and the importance of a clear scorecard that showcases business value. We also touch on balancing in-person and remote work, owning core technology, and the crucial role of human interaction in real estate. Tune in for Ben's expert advice on navigating the proptech M&A landscape.More about Ben and Lerner AssociatesLerner Associates is a purely proptech focused M&A advisory firm working with founders/owners/leaders of real estate tech companies looking to sell their company or to raise growth capital. We also work buy-side.Ben is the Managing Director of Lerner Associates, a London-based boutique M&A Advisory practice, he set up in 2019. Lerner Associates focuses purely on PropTech transactions, global and cross-border, across the spectrum of investment management, corporate, commercial, residential, multifamily, agency, workplace, facilities management, construction and real estate data solutions.Ben has over 20 years of experience working in the real estate software space, both strategically and operationally as a seasoned proptech executive, and more latterly within corporate development, M&A and investment. From prior to selling his family business, Qube Global Software, to MRI Software, and throughout his time with MRI and beyond, Ben has been actively involved in M&A on deal sourcing, structuring, due diligence and general advisory.Follow Ben on TwitterConnect with Ben on LinkedInFollow Lerner Associates on TwitterCheck out Lerner Associates

7 Aug 202451min

Kirill Bensonoff, CEO and Co-founder of New Silver, a fintech company that provides loans for fix and flip projects, joins Tech Nest to discuss the current state of the real estate market, the challenges faced by investors, and how New Silver differentiates itself from other lenders. Kirill explains how their technology, including a pricing engine, streamlines the loan process and offers convenience to borrowers. He also discusses their unique approach to sourcing capital, including their partnership with MakerDAO, a decentralized autonomous organization. Kirill shares his predictions for the future of the real estate market and the impact of AI on the industry. New Silver is not your standard lender. Listen in to hear more!More about Kirill and New SilverNew Silver is a fintech company with a mission to improve local communities by providing fast, convenient, and flexible capital to real estate investors. We use data and technology to underwrite and originate investment property loans with more efficiency and predictability. Our pricing engine provides instant online loan approval and a term sheet so that our many happy clients are ready to make an offer in as little as 5 minutes.Kirill Bensonoff is an advocate for pioneering fintech solutions, with a career spanning over 20 years across fintech, blockchain, and cloud computing. His entrepreneurial acumen has led to the successful bootstrapping of two high-growth technology companies, culminating in multi-million dollar exits. Kirill's journey exemplifies the synergy between deep industry expertise and entrepreneurial zeal, driving innovation in financial technology.As the co-founder and CEO of New Silver, a fintech company that excels in providing loans for fix-and-flip projects, Kirill has been instrumental in steering the company through challenging landscapes to establish it as a leader in its domain. Under his guidance, New Silver has made a mark by becoming the first Real-World Asset to be recognized and approved by MakerDAO, the leading stable-coin community project.Follow Kirill on TwitterConnect with Kirill on LinkedInFollow New Silver on TwitterCheck out New Silver

6 Aug 202433min

Steve Carroll, CEO and co-founder of Fine Diggs, discusses the issue of rental fraud and its impact on the rental application process. He highlights that 25% of all evictions are attributable to rental application fraud and explains how fraudsters use stolen or fraudulent information to lease properties and wait out the eviction process. Carroll emphasizes the need for comprehensive identity verification and a more holistic approach to underwriting that considers factors like income and behavior. He also discusses the importance of fairness in the rental process and how Fine Diggs is working to provide tools for property managers to make more informed and equitable leasing decisions. Findigs is a company that aims to streamline the leasing process by standardizing qualification and underwriting and using automation tools. They focus on removing bias and ensuring that the rules are applied consistently for everyone. The company recently raised a Series B round of funding, which is a significant achievement in the current startup funding environment. In terms of industry trends, Findigs believes that while technology plays a crucial role in real estate, face-to-face interactions and personal connections should not be eliminated. They also anticipate that regulations around tenant screening will continue to evolve, with a focus on fairness and consumer permission. Looking ahead, Findigs aims to grow their business and expand their services to make the rental process seamless and transparent for consumers.More about Steve and FindigsFindigs is the leading property technology company working to simplify rental screening and leasing decisions. Thanks to Findigs’ proprietary tech, it speeds up the rental decision process from an industry average of one week to an average of less than one day.Steve Carrol is the CEO and co-founder of Findigs, aiming to simplify the rental screening process, and sits on the National Rental Home Council. He has deep experience in the proptech VC space as well as being the co-founder and COO of Seated prior to co-founding Findigs.Connect with Steve on LinkedInCheck out Findigs

30 Jul 202446min

Lindsay Liu, Co-founder and CEO of Super, discusses the challenges property managers face with busy work and inefficient communication. Property managers spend a significant amount of time on tasks like email and phone calls, which can be automated and streamlined. Super aims to centralize communications and automate tasks for property managers, allowing them to focus on more important work. The use of AI in property management can boost productivity and provide scalable assistance to property managers. However, it's important for companies to prioritize data security and privacy and be aware of potential biases in AI algorithms. Embracing technology and change will be crucial for property management companies to succeed in the future.More about Lindsay and SuperProperty managers are inundated with more and more text messages, emails, calls, and work orders. With Super, they get an AI assistant that centralizes all of these communications into one hub that then automates triage and tracking, saving 6+ hours of weekly manual and repetitive work.Lindsay Liu has turned a passion for real estate from a side hustle into an industry she seeks to transform. For over a decade while working in tech, she managed multifamily rentals, vacation rentals, and flips—including three stints on HOA boards. Now, she’s one of the founders and CEO of Super, a company transforming the industry through AI-powered tools for property managers.Connect with Lindsay on LinkedInFollow Lindsay on TwitterFollow Super on TwitterCheck out Super

25 Jul 202438min

In this episode of Tech Nest, I explore commercial real estate auctions with Stephen Jacobs, President of Ten-X. Stephen shares his journey leading Ten-X (which is a really cool story, BTW) and debunks myths about auctions, explaining their strategic advantages beyond just distressed properties.Learn how Ten-X leverages data and technology to streamline the auction process, ensuring faster and more certain sales. Stephen also discusses the evolving role of brokers and current market trends, providing valuable insights into the future of commercial real estate transactions. Hint: brokers are still very much relevant in today's transactions. Listen in today!More about Steven and Ten-XTen-X is the world’s largest, online commercial real estate auction platform. Our platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. CoStar Group’s online property auction platform, Ten-X, is the leading example of the rapid growth of online property auction marketplaces. Each year more and more buyers, sellers, and brokers are using this proptech tool to exchange properties. Events like its Battle of the Bids, which feature thousands of players duking it out for $3.1 million in prizes over 6 rounds to correctly guess how much various properties will sell for on the Ten-X platform, are a way to highlight the innovative ways that CRE marketplaces are drawing attention to their ecosystems. Battle of the Bids is also an example of the notoriously staid industry having a little fun and using gamification tools to drive awareness of new trends.Follow Ten-X on TwitterFollow Ten-X on LinkedInCheck out Ten-X

24 Jul 202439min

Here's a fun one for y'all. Frank Rohde, Founder and CEO of Ownify, a company working to revolutionize homeownership through fractional ownership joins the show. Frank shares insights into Ownify's innovative model that helps first-time homebuyers with good income and credit but limited savings gradually build equity in their homes. You'll hear about Frank's diverse background, including his roles at FICO and Nomis, and how these experiences helped shape Ownify. He explains the dual nature of Ownify's operations, balancing PropCo and OpCo dynamics to benefit both consumers and investors.We get practical, outlining steps for using Ownify, the challenges and opportunities in the current real estate market, and Frank's predictions for the future of homeownership and proptech. Listen in!More about Frank and OwnifyOwnify is rebuilding the path to homeownership to make it achievable for the next generation of homebuyers. Our fractional ownership platform partners savvy investors with qualified first-time homebuyers to buy their home "brick by brick" - zero debt & no surprises. With Ownify, homebuyers and investors together reap the collective benefits of building equity, creating stability, and investing in the health of local communities for years to come. For our "Ownis", Ownify offers a low down payment of 2%, a powerful cash offer to compete against corporate buyers, no unforeseen costs & surprises, and evergreen equity in their home. For our investors, Ownify offers fractional ownership in a single family home generating income and real estate returns, shared equity & shared purpose with the Owni, and positive community impact by helping first-time homebuyers.Frank originally hails from Germany. Early attempts at becoming a child prodigy violinist were unsuccessful which forced his parents to abandon any hope or supervision. Left to his own, Frank quickly became famous for wrestling rattlesnakes and kayaking. His sister meanwhile became the child prodigy violinist. Looking for a brighter future, Frank moved to California where his first job was a choice between watering marijuana plants in the Northern California mountains or building a neural network-based prediction engine for horse racing results. Ever focused on doing the right thing, he built the neural network for horse racing. Several other lucky turns led him to stay in the US and eventually graduate from the Wharton School at the University of Pennsylvania with a BS in Economics. Since then, he’s been a consultant at Oliver Wyman, started an online insurance company, spent 4 years at FICO, and grew Nomis from <$2M to $25M+ in ARR before selling it. His most recent challenge is building Ownify - a new path to ownership for the ~2M first-time homebuyers each year.Connect with Frank LinkedInFollow Frank on TwitterFollow Ownify on TwitterCheck out Ownify

16 Jul 202440min

In this episode we dig into the side of real estate that seems to be the big, sleeping topic: insurance. Valkyrie Holmes, Founder and CEO of Faura, discusses the impact of natural disasters on insurance, the challenges faced by insurance companies, and the innovative solutions offered by Faura. The conversation covers risk assessment, loss control solutions, the impact of climate change, and the future of insurance tech.More about Valkyrie and FauraFaura provides loss control solutions for insurance companies with high-risk books of business. We specialize in risk assessments in disaster zones on everything from wildfires to hurricanes and are available all over the country.Valkyrie is the CEO and Co-founder of Faura, an insurtech startup that creates loss control solutions for insurance companies with high-risk books of business. She began her work as a data analyst and engineering intern at SpaceX before being awarded the 776 Fellowship to work in sustainability. Since then, she's launched both wildfire and wind assessments to add climate resilience data to the insurance market and is now operational across the country.Connect with Valkyrie on LinkedInFollow Valkyrie on TwitterFollow Faura on TwitterCheck out Faura

11 Jul 202438min