Here's What We're Covering This Week:
- We announced GEM's latest Biz Intel series to summarize the top of the funnel for any data needs.
- NYC approved a pilot program to support the development of ADU's.
- Arrived announced its Single Family Residential Fund.
- We highlighted a few companies that are leading the charge of transforming traditional construction practices through robotics.
Scroll down for commentary on the developments above.
This week, our Executive Interview Series features Greg Namrow from Tractic...
Who are you and what do you do?
I'm Greg Namrow and I founded Tractic, a platform that helps investors and landlords more clearly track the performance of their properties.
What problem does your product/service solve?
Tractic solves the following three problems for investors and landlords:
- Over 70% of Real Estate Landlords use Spreadsheets to manage their portfolio
- Over 73% of Real Estate Landlords assessed the EFFECTIVENESS of their respective tracker to be unsatisfactory
- Over 65% of Real Estate Landlords assessed their LEVEL OF UNDERSTANDING of how their portfolio is performing as unsatisfactory
What are you most excited about right now?
I am most excited about our onboarding process for 'All Star' subscribers that enables our team to perform a white-gloved concierge service to get their units uploaded onto a subscriber's dashboard ASAP.
What’s a cause you’re passionate about and why?
I'm passionate about supporting my military brothers and sisters. I served in the Marine Corps for 10yrs (2010-20) and deployed twice as an Infantry Officer. I was recently nominated and selected to join the board of a non-profit out of San Diego, CA called 'Support The Enlisted Project' or STEP which provides financial assistance and financial literacy training/development for current/Veteran personnel, E6 or below.
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Real Estate Data Intelligence (Series IV, Part I)
By: Drew Meyers
Besides our most commonly asked inquiry—“What proptech VCs should I speak with about my fundraising round?” (See: ❇️Proptech VC ecosystem intel❇️)—the second most common question we receive is some tune of “Where can I find the data I need to power my product?”
Whether it be property data from county recorder or assessor offices, MLS listings, multi-family rent rolls, CRE comps, or market analytics, data is the lifeblood of most great products.
We started our Biz Intel work with a category product reviews exercise for the small landlord property management software sector. We then moved on to Blueprinting Proptech, which introduced “a structured methodology to analyze early-stage companies paving the future of property technology.” Then we went wide with our Ecosystem Intelligence undertaking.
Like the latter series, Real Estate Data Intelligence will not actually be a “deep” analysis of a few companies/products, but a succinct summary of many.
Our goal is to summarize the top of the funnel for any data needs. Which companies offer various datasets, what format are they offered in, are they able to re-license their data, and even estimated costs in some cases.
As I’ve said before, we believe the next proptech titans are being created today. But, you have to know where to look to source the information needed to deliver amazing products. And, we do.
Here’s the list we have so far:
- Intro (Part I)
- Property Data (Part II): Originating from more than 3,000 county recorder and assessor offices, property facts (beds, baths, square footage, etc) and tax assessed values, sales dates and prices.
- MLS Data (Part III): Active listings, sales prices, and status changes. As well as agent and broker rosters. Controlled by more than 500 MLSs.
- Local Data (Part IV): At the city, neighborhood, or ZIP code level, this includes data points such as median sale price, rental estimates, appreciation rates, school ratings, and crime statistics. Plus datasets such as neighborhood boundaries.
- People Data (Part V): Owner contact details, mortgage information, and demographics.
- Multi-family And CRE Data (Part V): Comps and multi-family rent rolls, plus revenue performance data to benchmark against.
- Trend Data (Part VI): The lines, trends and forecasts of home values/sales, rents, population shifts, and office occupancy rates.
We want your suggestions: What other types of data are important enough to curate in a similar vein? We’re here to serve in proptech journeys far and wide.
Weekly Proptech Portfolio Update
By: Ben Godfrey
Consisting of 31 stocks, the GEM Proptech Portfolio had a total market cap of $175.683B, an increase of 1.94% for the week.
Adding ADUs to an Already Dense Landscape
By: Ben Godfrey
New York City's Department of Housing Preservation and Development launched a $2.6 million pilot program to enable homeowners to add ADUs in basements, backyards, or garages. The goal is to make a small dent in NYC’s growing housing crisis, by providing flexibility for resident caretakers or multi-generational living arrangements. The program will provide up to $395,000 in financial, technical support with pre-development and construction resources per project, and participants may earn up to 165% of the areas’ mean income or $186,450 for a two-person household.
This is clearly a small-scale pilot, we all know 15 units teamed with a non-refundable $200 application fee isn’t going to move the needle on anything, but it’s cool to see the city at least take a shot on goal. NYC is not exactly bristling with empty space to plop down new structures the size of an up-to-code ADU, but piloting vertical would be a cool initiative solution. Investing in a test pilot for❇️ building Lego-like skyscrapers ❇️… now, that would be worth paying attention to.
Image created by: Dall-E-3
Description: “Create an image for ADUs in NYC”