Commercial Real Estate Proptech Idea - Thoughts?

[Will Butler]

I'm about to launch a proptech company (with my friend that's a software engineer) that allows CRE firms to aggregate, organize and search for their CRE offering memorandums (as well as internal documents such as investment memos, appraisals and underwriting models). Some of the benefits of the software are listed below:

[1] Quickly search for and narrow down relevant deals by any combination of filters: geographical location on a map, deal size, broker, square feet, property type, etc…

[2] Pull relevant information from past deals and deals currently on the market - Return metrics, property details, deal documents, etc...

[3] Compile all ancillary deal documents and relevant data into one location in the cloud - accessible across all departments in a company.

[4] Outsource your data entry into the system (OMs, Investment Memos, Appraisals) that saves your internal resources - $10 – 20 / OM (or other deal doc.).

[5] Pipeline tracking: Track deals as they progress through “Marketing Phase, “Underwriting”, “Closing”, “Hold” and “Dead”.

There's a huge demand for market / property data - CRE firms pay $10 – 20k / user / year for a company I won't name with monopoly in the industry :). However, a lot of times investors have the best data on their own file systems but can't track down the information because it's buried away in documents on their computer drives.

Been working as an CRE underwriting analyst / associate for 7+ years and think this would help a lot of smaller to middle market CRE firms.

We're looking for initial few users that can provide feedback.  Any interest?  Feedback?