PropRise - Automating commercial real estate data collection

TL;DR:

PropRise is a data provider for commercial real estate (CRE). We leverage technology to collect data more accurately and efficiently. Also, we gather proprietary data that was previously not available within CRE. Our long-term vision is to collect and provide all CRE data automatically.

❌ The Problem

CRE professionals power their decisions using data. These decisions include pricing, analyzing investment opportunities, and forecasting which markets are growing. Large CRE firms always have an appetite for new datasets to give themselves an edge over their competitors.

However, existing data providers fall short and are widely criticized for their outdated data, poor customer service, and hard-to-use interfaces. The incumbents have been around for decades and collect their data through calling brokers and owners one by one. For the ~6 million commercial properties in the US, this approach does not scale and as a result, the data is often incomplete. To make things even more complex, the information needs to be updated every few months with new sales happening and rents constantly changing.

These issues are amplified in the niche markets of CRE, like mobile home parks and self-storage facilities. This is because to large data providers, niche assets are not a big enough market to warrant their attention. This is where we will start our platform to fill the gaps.

🔐 The Solution

PropRise is a modern CRE data provider with the goal of automating data collection. We are beginning our mission with a focus on niche asset classes to fill an immediate need and nail down how we collect this data. To get started, we are leveraging unstructured data and web scrapers. By using AI, we can restructure this raw data and present it to our users in a much more digestible format. Ultimately, we will expand these approaches to the rest of CRE.

Today, we are building a database of mobile home parks. This asset type has been booming in recent years and the large incumbents do not provide adequate data about them. By providing ownership information, sales history, and details about the parks, we can fill a much-needed gap in the data landscape today.

💼 The Team

Hi! We’re Jean-Michael and Krager - a team dedicated to bringing the power of data to commercial real estate. We are on a mission to automate CRE data collection.

👨‍💻 Krager, our tech enthusiast: An ex-Stripe engineer and full-stack developer, Krager brings a deep love for automation and a proven track record of hackathon victories. His speed in building and wealth of experience in software engineering are integral to PropRise's mission to reshape data in commercial real estate.

🌆 Jean-Michael, our tech-savvy real estate expert: With a background in machine learning from Carnegie Mellon University and further expertise developed at Stripe, Embark Trucks, and Microsoft, Jean-Michael has always balanced his tech career with side ventures into real estate investing. Now at PropRise, he's blending these two worlds, applying his extensive data knowledge to reshape the fragmented commercial real estate sector.

🙏 Our Ask

• Amplify our message: We'd appreciate it if you could share this post. You never know who might benefit from it.
• Help us get connected: We'd love to speak with:
  • Individuals in acquisition roles at investment firms, especially those specializing in niche assets like mobile home parks, RV parks, self-storage, etc.
  • CRE brokers and acquisition analysts

We also welcome connections from any other CRE professionals! Regardless of your specialization, if you're driven by data and committed to innovation in the CRE landscape, we'd love to hear from you.

Please let us know at founders@proprise.io.