I don’t think anybody looked at the iPhone and said “*Finally.* There’s been an obvious hole in the property management market since forever and we can finally fill it.” but that’s a good skill to develop.
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(Almost all single family homes rented currently and historically are owned by mom-and-pop investors who most commonly own 1 to 2 rental properties.)
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Reading their annual report they talk about “proprietary technology” and while they probably mean “we have an in-house CRUD app” it is simultaneously obvious that that company has to be a software company and wild that that is true.
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(If they’re not a software company they have single-digit years until a software person figures out that business, including financing homes at scale and running a leasing operation, and runs rings around it.)
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“I think you’re underestimating how deep a field real estate in.” My father was in it his entire career, and I respect the depth, but it’s easier for software people to identify, hire, and manage real estate expertise than vice versa. (Or that would be my bet.)
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It's the synthesis of a couple of commentators I was reading last night; I didn't save URLs.
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Can you point me to the article you're quoting, Patrick?
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Synthesis of several articles I read last night; not an exact quote. I didn’t keep notes on URLs because casual reading late at night.
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Is there any way to loan my house to a REIT so that they handle property management for me in a reasonable fashion.
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Property management is ripe for consolidation
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