Thread by @Levijameshere

My PE firm owns $140M of real estate.

We got this big because we aggressively used modern technology.

Here is the tech we used to do it –

(and it’s cheaper than you think)

Co-Star - Property information and listings

Their data is far from perfect, but we must buy it.

It is the best solution that exists today to get info about properties.

Cost: $23,340/yr

Juniper Square – Investor Management Platform

I’ve used all of the options. They all stink..

Except Juniper Square. It keeps getting better.

Cost: $39,720/yr

Rockport VAL – Financial Modeling/Underwriting

Your firm won’t scale on spreadsheets (sorry Excel nerds!).

Rockport VAL is a modern, efficient version of Argus.

We get 100% accurate models.

Cost: $7,500/yr

Land ID - Parcel Data and Mapping

No more clicking for hours on appraisal district websites.

Land ID (Formerly MapRight) shows info about properties and owners.

Cost: $168/yr

Loan Boss – Loan Tracking

Using AI and experts, they read your loan docs and track compliance.

All in a simple dashboard.

Cost: $12,000/yr

Google Workspace – Email and Google Drive

We’re a Google shop.

It works great and is a huge value.

Cost: $3,084/yr

Microsoft 360 – Microsoft Office Suite

Necessary evil.

We do our part to make sure Balmer and Gates stay super-rich.

Cost: $891/yr

Monday .com – Task and Information Tracking

Monday .com is the best.

Tracking processes (and information) across the company.

Each property has a board from Day 1.

We made templates to ensure no balls get dropped.

Cost: $1,920/yr

Fathom FS Reporting – Financial Reporting

Investors want to know what’s going on with our properties.

This software takes your financial statements and lays them out in an easy-to-understand format.

Cost: $3,000/yr

Chat GPT Premium – The make every process easier tool

AI isn’t taking jobs at my company.

It is making every one of our people more productive.

I bought it for everyone and told them to use it.

(Just be careful about the fake data it might give you)

Cost: $255/yr

LinkedIn Premium – Hiring tool

Our business runs on great people.

This is the best way to find them.

Also: 🤮

Cost: $909/yr

QuickBooks Online – Accounting Software

Solid accounting solution that we use for company-level books.

Cost: $704/yr

Yardi Voyager – Property-Level Accounting

Tracks accounting at the property level for all our deals.

We also use their payment processing platform to collect rent payments from tenants.

No paper checks and no paper records!

Cost: $2400/yr

Bill .com – Payment Processing

We pay and receive payments using it.

Again, no paper in our office!

No complaints.

Cost: $660/yr

Divvy – Corporate Credit Cards

All-in-one credit cards.

Modern interface. Simple.

Major upgrade from Expensify / Amex.

Cost: $0/yr

Zenefits – Payroll and HR

Meh. Not my favorite solution.

There are other better options out there that we will eventually make the switch to.

What would you recommend? Reply below.

Cost: $3,240/yr

Dropbox – Data Storage

The standard.

Also, we back up our data to Google Drive and on physical drives for redundancy.

Cost: $2,303/yr

Total cost: $100,476/yr

We would spend many times more than this on staffing if we had to do all of this manually.

That’s it!

What would you change? What surprised you? What am I missing?

Reply below.

In the meantime, likes+retweets of this thread appreciated!

https://twitter.com/Levijameshere/status/1664346295668973613

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