Mike DelPrete

In 2013, Lori Torres felt an undeniable spark when she conceived the idea for Parcel Pending, a smart locker solution designed to tackle the package crisis in apartment buildings. Despite being the primary breadwinner in her family with a thriving real estate career, she took a monumental risk. She left her secure job, sold the family’s cherished home, and even persuaded her mother to risk her property for a loan. Within a year of these sacrifices, Lori had developed her first smart lockers. Her innovation soon caught on, with her lockers becoming a key solution for property management companies and residents. By the end of 2014, Lori’s commitment had not only secured her first major order but also attracted investors, setting the stage for tremendous growth. Within six years, Parcel Pending was sold for $100 million, turning her mother’s loan into a $1 million return and ensuring her family's future. Lori’s story highlights a key lesson for anyone seeking investors: truly committing to your vision can make a world of difference. By investing your own resources and security, you show investors just how dedicated you are to your idea. When you put everything on the line, it not only proves your commitment but also makes a strong case to potential backers. If you’re all in, it’s far easier to convince others to believe in your dream, and it could be the turning point in making it a reality. Are you prepared to go all in on your entrepreneurial dreams? Grab a copy of my book, “Thinking Bigger”, at the link below to read my personal experience chasing my dream and the advice I would share to anyone starting today. https://lnkd.in/dZpQYX6D #Entrepreneurship #WomenInBusiness #Startups #Investment #ThinkBigger

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Worth reading: The Cost of Anticompetitive Pricing Algorithms in Rental Housing What is interesting here is the shift toward coordination at scale, which Teddy Roosevelt (Republican) referenced in his new nationalism speech in Osawatomie, Kansas - on August 31, 1910. The absence of effective state, and, especially, national, restraint upon unfair money-getting has tended to create a small class of enormously wealthy and economically powerful men, whose chief object is to hold and increase their power. The prime need is to change the conditions which enable these men to accumulate power which it is not for the general welfare that they should hold or exercise. We grudge no man a fortune which represents his own power and sagacity, when exercised with entire regard to the welfare of his fellows. . . . We grudge no man a fortune in civil life if it is honorably obtained and well used. It is not even enough that it should have been gained without doing damage to the community. We should permit it to be gained only so long as the gaining represents benefit to the community. This, I know, implies a policy of a far more active governmental interference with social and economic conditions in this country than we have yet had, but I think we have got to face the fact that such an increase in governmental control is now necessary. No man should receive a dollar unless that dollar has been fairly earned. Every dollar received should represent a dollar’s worth of service rendered—not gambling in stocks, but service rendered. The really big fortune, the swollen fortune, by the mere fact of its size acquires qualities which differentiate it in kind as well as in degree from what is possessed by men of relatively small means. Therefore, I believe in a graduated income tax on big fortunes, and in another tax which is far more easily collected and far more effective—a graduated inheritance tax on big fortunes, properly safeguarded against evasion, and increasing rapidly in amount with the size of the estate. Link: https://lnkd.in/gPrYK_ni --- "Pricing algorithms may help landlords and building managers set prices that are more responsive to market conditions, which could increase market efficiency in a competitive market. But the algorithms can also facilitate price coordination, which decreases market efficiency by harming competition. Small yet coordinated landlords can act as if they are a single dominant landlord, and use their collective market power to increase profits by setting higher prices." https://lnkd.in/gVzcZbzW

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According to Yardi’s newly developed software tool, the Conversion Feasibility Index, which measures the suitability of office-to-residential conversions, Denver alone has over 1.4 million square feet classified as “Tier 1” - meaning they’re top conversion candidates. https://lnkd.in/eGdcWbaw A few standout insights from the report: - More than 1.2 billion square feet of office space nationwide is viable for conversion. Top metros have over 20% of their stock as potential candidates. - Office prices continue to plummet , with some properties being sold at up to 90% less than previous prices. - More cities are starting to actively encouraging conversions through tax breaks and accelerated zoning processes, with New York and D.C. leading the way. Interested in learning more or taking advantage of this generational opportunity? Click the link below to see a live opportunity: https://lnkd.in/eJJ2rjBr

Searching for the right multifamily syndication company can be tough. But here’s a secret: Analyze a company like a potential employer. Use the below tips to discover what kind of “management team” they have: 1. Experience: - How many years of experience does the team have? - What’s their track record of success? 2. Transparency: - What’s the frequency of reports and newsletters? - How are proceeds being used? - What’s the level of financial transparency? 3. Strategy: - Is the investment strategy aligned with your goals? - What kind of properties are they invested in? - Are they involved in value-add investing? 4. Communication: - Do they quickly respond to inquiries? - Are they proactive in keeping you updated? - Is their language plain and clear to understand? 5. Philosophy: - What’s their approach to risk? - Do they prioritize investors’ interests? - What’s their overall mission and values? Hope these tips help you find the right multifamily syndication company to invest with. Happy investing! #investoreducation #investorinsights #investortips #multifamilyinvesting #apartmentinvesting

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Zillow + Moody's = Powerful Data. Check out the webinar at 11am PT - info below: Join Zillow Rentals for a 30-minute conversation where we’ll dive into some of the most valuable reporting designed for multifamily marketers and operators. We’ll chat with Joe McBride, Moody’s Senior Director & Head of Information Services, as well as Brent Camp, Vice President of Asset Living, who has been able to leverage this new data to make more informed decisions for his business. In this webinar, you’ll: 👉 Hear how Moody’s brings data & research to partners around the world 👉 See sample reports & dashboards available to Zillow partners 👉 Learn how multifamily professionals can (and do!) use this data for their markets & properties. Link to RSVP in the comments!

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Edward Cohen and I had a blast talking to Connie Lee on the Tangent 💚 Proptech podcast. Connie has a great backstory and she's building Reffie, an AI-driven company geared to help multifamily operators lease units faster. We had a great time talking about the state of the multifamily market, rental trends and more. Link in comments to listen. #proptech #venturecapital #multifamily #realestate #podcast

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It's a fascinating look into the common pitfalls that entrepreneurs face when building their startups. The article dives deep into the importance of focus, perseverance, and the ability to pivot when necessary. It's a reminder that success doesn't come overnight and that resilience is key in the face of challenges. Have you faced similar challenges in your entrepreneurial journey? What lessons have you learned along the way? #Entrepreneurship #Startup #FounderAdvice

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When our team started growing, I thought scaling would solve our problems. Instead, it added more complexity than we ever imagined. Our tools weren’t built to handle the size or speed of our growth. That’s why we built BILLIONS to grow with you. It’s scalable, customizable, and ready for any size team. We replaced fragmented tools with one seamless platform that adapts as your team expands. If you’re scaling but feel like the growing pains aren’t worth it, you’re not alone. #Billions #realestateteams #TeamOperations #software #productivity #Buybackyourtime #efficient #scale

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🚀 Big News: Agentio, the automated platform connecting YouTubers and brands, has raised $12M in Series A funding led by Benchmark! 💼 Agentio has already partnered with brands like DoorDash, Notion, and HelloFresh, and creators including Rhett & Link and Matty Matheson. With the new investment, they plan to scale their creator marketplace, enhance their AI-powered brand safety tech, and drive better ad campaign performance. Profitable & growing with 2.35x spend increases, they are shaping the future of YouTube monetization. 💡 #CreatorEconomy #TechFunding #YouTube #AI #DigitalMarketing #Adtech #StartupNews #InfluencerMarketing #Innovation #Tech

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How do you balance short-term client needs with long-term product vision? Share your strategies for effective prioritization! Kevin Heras #innovation #productmanagement Want to learn more about Multifamily Investing? Sign up for our newsletter and create your Investor Profile here - https://deepbluere.com

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I enjoyed going on Nick Telson-Sillett’s podcast, Pitch Deck by Forward Pursuit. Nick is a serial founder and investor (founded and exited DesignMyNight) so knows both sides of the table which always makes for an enriching chat. Some things we discussed: - The perceived power dynamic between VCs and founders can hinder productive conversations. - A compelling product demo can significantly influence investor interest. - Founders must focus on solving real customer problems to succeed. - Hiring standards are crucial for building a successful startup team. - Behavioural roadblocks can prevent the adoption of new solutions. - Validation from potential customers is key for pre-revenue startups. - The early-stage funding landscape has become more efficient and selective. - Pace of execution is a critical factor in attracting investment.

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GTM in Multifamily is hard. Really hard. Risk tolerance is low Stakes are high Fixed expenses have soared Budgets are tight Innovation is accelerating There is very little room for a bad purchasing decision. BUT - there is still so much that we can improve in Multifamily. Resident experience, back office, role specialization. So how do innovators break through? How do they instill trust? IMO - the best investment that PropTech vendors can make right now is content. Not AI created generic content. Deep, thought provoking, insightful, thought leadership content, video content, key employee led content. Put your flag in the ground on exactly what problem you solve for - and own your category. Be there when your buyer searches with super strong buyer enablement. 76% of software purchases in Multifamily are made outside of the IT department. Buyers are craving information - they are craving transparency. Bold - but in Multifamily over the next few years I think that GTM will be the deciding factor on whether the start up survives or thrives. . . Doesn’t matter how good the product is.

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If you ask a PropTech founder what they most need help with today, introductions to qualified investors with capital would be No. 1, 2 and 3 on their list. With that in mind, I’m excited to share the news that Venture Connect from CRETI · Center for Real Estate Technology & Innovation officially launched this week to help better connect PropTech founders with investors focused on the space. Props to CRETI managing director Ashkán Z. for spearheading this initiative and getting it live for the betterment of the entire PropTech landscape. With the platform live, founders can get matched with more than 200 venture capital investors (angel to Series A) based on their investment profile and thesis, including Alpaca VC, Era Ventures, Fifth Wall, JLL Spark, Navitas Capital, Nuveen Green Capital and many more. As I told Philip Russo of the Commercial Observer, I believe the CRETI platform will be a game-changer for the industry, which sorely needs new avenues helping founders succeed in bringing new ideas to market faster and more efficiently capitalized. Thanks to Philip for including my comments in the story. Details on Venture Connect below. https://lnkd.in/efpxDQkR #proptech #venturecapital

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I recently saw this metric from Carta’s 1Q24 VC Fund Report, which is very concerning. DPI... is nowhere to be found in earlier vintages that probably should start showing DPI. Funding early-stage projects is great, but ultimately, these venture dollars need to exit their investments and pay back their limited partners. That’s where the metric Distributed to Paid-In Capital (DPI) comes in. While managing a fund, we get interim measures during the life of the fund (e.g. IRR, MOIC), but ultimately, “you can’t eat IRR.” If you want to build a lasting venture capital organization, you need to start showing DPI for your fund. Keep in mind that this is traditional VC data from Carta, and is not strictly crypto venture. Crypto venture tends to get liquidity earlier (tokens) and things tend to go parabolic sooner (faster, more unicorns) - but I’d wager that the data here is somewhat similar for Crypto VCs… Not as much DPI as there should be from these earlier vintages. Read the full article, as well as a recap of all the crypto fundraising rounds for August, here: https://lnkd.in/g3eVJ-iF

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Three Phrases Founders Need to Hear 💡 "No software company should raise a pre-seed." (Controversial but true for some) 💡 "A lifestyle business is thrown around like a derogatory term as if you are not a legitimate founder because you didn't take on funding." (Let's change this narrative) 💡 "The Mighty Middle" - A newly coined term for founders who are aggressively building, reaching profitability, and creating sustainable businesses without institutional capital. (Join the revolution) As an early-stage company (Openroom HQ), we're experimenting every single day to see what sticks and what doesn't. It doesn't make you less of a Founder just because you didn't take capital. The mindset of "go raise capital" and "growth at all costs" is starting to shift. It's not that founders need reassurance to continue building and solving hard problems. We will continue regardless! But, it definitely helps when people who have done it, seen it, and believe it too. It might be controversial but I loved this morning's debriefing. Thank you to Cherry Rose Tan, MBA, MA, Moshe Mikanovsky, Brice Scheschuk, CPA, CA and Schulich School of Business - York University's Schulich Startups for a memorable mentorship quarter and helping me see a better future of building my own company. ---- Repost this for your network ♻️ P.S. What's the most controversial advice you've heard recently?

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PropTech:  It's Not Just About Tech, It's About People Reflecting back on this brilliant panel from Stephanie Anderson, Kristi Fickert and Ronald Harrington, MA, CAM, CALP at Apartmentalize got me thinking about how the proptech landscape is exploding with innovation in our industry, but it can be tricky to know if you are making the right decisions and investments. Ronald Harrington, MA, CAM, CALP reported from his over 100 shops that his in-person tours took 23 minutes on average, and self-guided tours lasted an average of 25 minutes. I've been thinking about what a difference two minutes can make ever since. What is the value of those extra touring minutes? Are those two minutes spent by the prospect quietly contemplating what their future could look like at the property or are they spent fumbling with the technology that was supposed to make their experience easier? Knowing more about the experience of the end-user can make all the difference in your decisions. As multifamily executives, your decisions to implement new technology shape the future of your properties and portfolios. Here are the 3 critical factors to consider when selecting new proptech: ROI and Efficiency: Of course! But does the technology truly streamline operations, reduce costs, and increase revenue? Look beyond flashy features and focus on tangible business outcomes. Data and Insights: Can the Proptech platform you are considering provide actionable data to inform strategic decisions? Powerful analytics are essential for optimizing performance and staying ahead of the competition. What insights can you gain about your customers' experience from this tool? Customer Experience: This is the secret sauce. A superior customer experience drives interest, trust, leases, retention, referrals, and property value. Remember, technology is a tool, not a solution. Your proptech should empower seamless interactions, personalized services, and a strong sense of community and make the life of your end user easier, not more complicated. 📢 Cate Davis, CAS just discussed this situation with the tale of two smart locks. The best prop-tech solutions are centered around enhancing the prospect and resident journey and as the providers we need to be intimately aware of how the tech we have chosen is impacting each. By prioritizing customer experience, you're not just investing in technology; you're investing in the future of your business. #proptech #multifamily #customerexperience #realestate #MFIdemoday #propertymanagement #investments #dataanalytics #efficiency #innovation

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Great to be a guest on this podcast with multifamily leader and influencer Patrick Antrim on this episode of the Multifamily Innovation® Podcast Show, featuring an eye-opening discussion on high-stakes investment strategies. Find out how the 0.001% manage their portfolios and the principle-led strategies that underpin successful investments in companies like SpaceX and Stripe. We also discussed my personal transition from a pre-med student to a leading figure in the investment world, providing listeners with a unique perspective on building a resilient and diversified portfolio. Click here to access: https://bit.ly/4eYTUuG #InvestmentStrategies #MultifamilyRealEstate #HighStakesInvesting #PortfolioManagement #FinancialLeadership #InvestingLegacy #BusinessInnovation #DiversifiedPortfolio #Entrepreneurship

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