#278 - Moses Kagan & Rhett Bennett - Co-Founders of ReSeed Partners - Building the Y-Combinator for Real Estate Operators

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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

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