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Moses Kagan is co-founder and partner at Adaptive Realty, a Los Angeles-based real estate development and property management company with $200MM in AUM and more than 1,000 apartments under management. He is also a co-founder of Re-convene, a real estate private equity un-conference, and ReSeed, which provides mentorship and capital to early-career operators.
Rhett leads ReSeed's strategic direction and daily operations. He most recently served as Co-Managing Partner at Minot Capital, LP, where he led real estate investing. Previously, Rhett was President and Director of Research at Stillwater, a long-short hedge fund, and Chief Investment Officer at Arlington Family Offices. Rhett received a Bachelor of Arts from Brown University with a double major in Business Economics and History.
On this episode, Chris, Moses and Rhett discuss:
➡️ How ReSeed works
➡️ What ReSeed is looking for in Partners
➡️ How ReSeed empowers Operators to build their own companies
➡️ What success looks like for Operators working with ReSeed
➡️ Thoughts on the state of the Real Estate Market
Chapters
(00:03:31) - Rhett’s career
(00:04:26) - Moses’ evolution in thinking over the past 5 year
(00:06:40) - Launching ReSeed Partners
(00:19:05) - Defining Subinstitutional
(00:20:58) - Cohort #1
(00:34:18) - The ReSeed Partner Track
(00:39:35) - Is this a renovation strategy or is there any ground-up involved?
(00:40:22) - What does a partnership with y’all look like in the first year?
(00:43:58) - What markets are you open to?
(0048:28) - How would you determine a successful year for an operator?
(00:53:44) - How does the partnership work? What does someone get from y’all and what do they give up?
(01:00:20) - Do partners have the opportunity to exit?
(01:01:45) - Holding assets for the long term
(01:04:40) - Autonomy for the operator
(01:07:18) - Is there anything that is off-limits?
(01:08:41) - Moses’ playbook
(01:11:16) - How are you capitalizing this?
(01:17:15) - How many people can be in one market before it's saturated?
(01:17:57) - Other members of ReSeed
(01:19:04) - Guaranteeing loans
(01:22:11) - What are the couple of things people spend the majority of their time on?
(01:25:39) - Is there a minimum size deal?
(01:27:06) - What can this business look like 10 years from now?
(01:29:06) - Thoughts on the current market
Additional Resources
👉 ReSeed Partners
👉 Moses on Twitter
👉 Rhett on LinkedIn
➡️ Learn more about BetterPitch
➡️ Fort Capital: www.FortCapitalLP.com
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➡️ Follow Chris on Twitter: www.twitter.com/FortWorthChris
➡️ Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/
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The FORT Podcast with Chris Powers is a place where you can find meaningful conversations about entrepreneurship, real estate, investing, and more.
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