Rex

When it comes to “proptech,” here’s why we target non-asset-intensive businesses in real estate.

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Our CEO and Founder, Peter Rex , shares his insights on investing in tech applied to real estate:

'When I think about investing in tech that's applied to real estate, I intentionally try to avoid tech that is solving problems for asset-intensive businesses. This might sound contradictory because real estate itself is an asset-intensive business.

So, how do we apply tech effectively? We focus on operational areas within real estate, where inefficiencies are prevalent. Many of the well-known issues in the real estate industry, especially on the private equity side, revolve around asset management. These areas are heavily saturated and don't add the most value to the asset as a whole.

The real value comes from leadership in private equity—structuring deals, picking deals, and offloading deals efficiently. This requires good judgment from a few key people rather than a large team.

When applying tech to real estate, we look for pockets within the industry where technology can create significant value in a capital-efficient way. For example, one of our products supplies insurance for workers to get on-site quickly and cost-effectively. This is crucial because no revenue can be generated until the asset, whether a hotel room or an apartment, is ready for use. Contractors need to be insured to perform their work, and our solution addresses this serious pain point efficiently.'

At Rex, we aim to solve real estate challenges by targeting operational inefficiencies and providing capital-efficient tech solutions. This approach is embodied by our portfolio companies, like JobCall and GetDone.

InsurePro, JobCall, IDcore, PayUp, GetDone

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75% of property managers and asset owners want to know if someone they bring on-site is a nonviolent criminal.

No one wants to expose their tenants and guests to criminals. The majority of managers—75%—are concerned about knowing the background of every individual coming on-site. However, many times they don't have this information because of the numerous vendors and construction workers entering the property, who often aren’t properly vetted by the management or ownership.

This needs to change. But why isn’t it happening? Everyone wants it, but the tech is broken.

As seasoned operators, we recognize this as a significant choke point. It's a vague area that not only slows us down but could also pose risks to our tenants, residents, owners, and everyone else involved.

At Rex Tech, we're tackling this issue head-on. Our goal is to bring clarity and visibility to this process. This will benefit everyone—reliable vendors will gain quick access, and residents, tenants, guests, and owners will feel secure. It's a win-win for all!

What's the first thing that gets in your way as a real estate owner/operator? Compliance.

When you’re managing a job, ensuring that every person coming on-site doesn’t have a criminal background is crucial. However, the current technology for this is inefficient, ineffective, and slows down the entire process of turning over inventory, whether it's apartments, hotel rooms, or office space.

The first choke point is the initial ID check—and it’s broken. The tech in this area is terrible.

At Rex Tech, we're tackling the issue of ID checks head on. This need is driven by urgency: you have units to turn over or construction to complete, and delays cost money. The contractors are on the dime: they're costing money and they want to get the jobs done too.

Good contractors have nothing to hide. They want to be checked quickly and make sure you know that they’re not a criminal. And you definitely want to know it too.

ID check-ins are critical, yet they're currently broken. That's why we're dedicated to fixing them at Rex Tech.