Portfolio Performance Software with Jeri Frank

Josh (00:00:02) - Good day, everybody. Welcome to The Deal Scout. This show is about deals and deal makers. I like to share their stories and the things that they've overcome to make their deals, their technologies, their software platforms, their portfolio, share their story of how they did it. And maybe some advice for other deal makers out there. So in today's show, we're going to have a conversation with Jeri, and she's in Iowa, and she's built a really cool technology and software platform for commercial real estate. And and we'd love to hear your story. So, Gerry, welcome to the show.

Jeri (00:00:34) - Thank you so much for having me, Josh. Really appreciate appreciate it being here.

Josh (00:00:38) - Yeah. Well, it's good to have you. So what's the name of your company?

Jeri (00:00:41) - The name of the company is Stratafolio.

Josh (00:00:44) - Okay. And where did you come up with that? What does that mean for you?

Jeri (00:00:47) - Yeah. You know, coming up with the name of a company is, is a it takes a lot of effort.

Jeri (00:00:53) - And when we thought about the product that we were developing, it really came down to we think about an organization is different. Stratus. So there is the the parent level. And then underneath of that you have your entities and your assets and your buildings and units. There's different stratification. And what Stratafolio does is it gives you the opportunity to view data at different levels, and it is really managing your portfolio. So Stratafolio is really about managing the different strata of your portfolio.

Josh (00:01:30) - Got it. So we'll get into the history of this. But you know, is this a good fit for like people who own, you know, 1 or 2, you know, duplexes or something like that, or is this for someone who owns, you know, 10,000, you know, doors and multifamily? Like, where's the sweet spot for your software?

Jeri (00:01:52) - Great question. We really focus on companies who own and manage commercial real estate. And what we mean by commercial real estate are companies who have retail, office, warehouse, industrial, basically anything with a multi-year lease.

Jeri (00:02:11) - That's where we focus. We take in 12 different asset classes, but our product is best suited for those people who have Cam reconciliation and lease escalations, because we know there are not a lot of products out on the market that really focus on that. SMB, small to midsize business owner operator that happens to use QuickBooks. So we provide a total commercial property management solution for those people.

Josh (00:02:39) - Got it. So someone who owns it and manages it, right. So not a third party outside management company. So they're owning and managing it and multi year lease. Why why is that important.

Jeri (00:02:51) - Yeah. So one of the things that we see and it's very common every time we go through a full service onboarding we see companies who are missing lease escalations. So every year there should be a lease bump or an increase for these commercial leases. And it should be managed well. But we see it very frequently where one or more of their tenants have not been paying that increase, sometimes for months, sometimes for years.

Jeri (00:03:23) - Wow. And it's you know, we're not talking about a couple of hundred dollars. We're talking about thousands and sometimes $100,000. And it becomes really awkward to go back to those tenants and say, whoops, I missed that. And so did you, by the way. But we all miss that. Now you owe me this.

Josh (00:03:42) - Yeah, it's very hard to go backwards and say you owe me this rather than, hey, by the way, according to our contract and our lease agreement, two months you're going to have an increase in price or a change. I want to make you aware of that. Right. So if not, the likelihood of you going back and collecting money super nil, right? You're going to get lawyers involved. It's going to be messy. It's and it's going to look bad on you as a manager and owner manager. So I really like that. So that totally makes sense because you're leaving money on the table, especially when you've all agreed to some type of lease escalation.

Josh (00:04:20) - So for for people owning and managing, what are we talking, you know, 100 units, you said 100 leases is kind of like your sweet spot. How are they currently doing this?

Jeri (00:04:33) - Out. Most of the time our customers are using QuickBooks and a dozen different spreadsheets and and they're managing. When those leases go into effect, some of them will put some of that in a memorized transaction. And QuickBooks. Well, that's part of the problem, right? Because it's memorized. But there are escalations that go into effect at different times for every tenant, right? It's not January 1st. They all change at the same time. It's throughout the year. And so those escalations get missed. So most of the time people are relying on spreadsheets to manage when those escalations go into effect and who they need to notify, they're tracking. They're certificates of insurance. They're if they're tracking them, they're tracking all of their debt there and who they owe it to. And when it comes due, um, they're doing their cam reconciliations all in spreadsheets and every single one of those activities leads to lost revenue if it's done incorrectly.

Josh (00:05:39) - Yeah. Explain what cam reconciliation is.

Jeri (00:05:43) - Yeah. If you have a we'll just say a shopping center and you have tenants that are sharing space. That common area maintenance expense and insurance and taxes are generally shared across all of the tenants within those space, within that space. And generally they pay pro-rata. Sometimes there's exceptions to that. Sometimes there's caps, sometimes there's floors. But there are different rules that are agreed to at the time of that lease signing. And what Stratafolio does is we take into account those rules. And then as those expenses are occurring, we're pulling that those expenses through from QuickBooks directly into Stratafolio. So nothing has to be done outside of the system. We're pulling in those true expenses, and then we are allocating those expenses accordingly for each tenant. And so shortly after the start of the year, you can press a button and say reconcile. And you can do your reconciliation in January, not May. Which also means if you are carrying, it's just a time consuming process if you have to do that manually across 100 tenants.

Josh (00:06:56) - Yeah. Oh my gosh. So you know I've seen this. We've we've managed our, our own family portfolio duplexes and tries and quads and such like that. But you know you have 20 units or something like that or 20 buildings times, you know, two, three, four and you know, like the way my family did, it was super inefficient. And it was really, really tough. So you're looking at January like, okay, who's paid? Who hasn't. When did they pay. How much did they pay. Are there any late fees associated with it. Do we have to do return check. And it was just an accounting nightmare. I can't imagine doing, you know, 100 leases with different contracts, different asset classes and such like that. Doing that by spreadsheet, you're relying on someone to create the spreadsheet and to run the spreadsheet. Well, especially if you're trying to what our family did. Keep it in the family, right? Right. Wow. So super interesting. All right.

Josh (00:07:52) - Now let's go through. Did you have something to add there?

Jeri (00:07:55) - Yeah. And the other thing would just say kind of. Off of the point you made. It's all dependent on someone knowing and understanding how to use a spreadsheet, the same way that the person who created that spreadsheet intended. And that's where things sort of go wrong. Right? Because someone, you know, you started out one way. The calculation was one way somebody else jumps in does it a different way. So things sort of go askew, and then it just makes it really hard for anyone to come in and take over. There's no standardized operating system. And that's what we enforce. Was Strada folio is a standardized operating procedure process.

Josh (00:08:37) - Yeah. It's so interesting because, you know, let's just say mom or dad, you know, dad built it, mom managed it, or mom built it. Dad. Man. Who cares, right? So you get this family. They've been doing it for 20 something years, and he's been using notebooks and notepads and Excel spreadsheets, you know, from 1997 Excel, right? And then they want to go on a vacation, or they want to start teaching their kids how to how to do this, how to run with it.

Josh (00:09:05) - Now they have to rely on their ability to educate their kids and do that, which, you know, it took them 25 years or 30 years to figure it out. Kids aren't going to pick it up. Loss of interest. They're moving on now. They have this stuff now. Mom and dad can never go on vacation.

Jeri (00:09:20) - Right? Exactly.

Josh (00:09:22) - Yeah. Or they go to a third party management company and try to figure it out. And that's tough to find a good management company that could do different asset classes, different geo locations. Fill in the blank right in my in my I hit the nail on the head like, is this a common thing?

Jeri (00:09:36) - Exactly. Yeah. And I mean, it's costly to go to. You're basically you can use the technology and pay less, or you can go to a management firm, pay more. And it's not the same as managing it yourself. Right. They don't have that same. They could be a very good management company. They just don't care like you do as an owner.

Jeri (00:09:58) - Operator.

Josh (00:09:59) - Yeah for sure. All right. So let's go through a little bit of your story. You you've been running this and you've achieved a level of success in terms of like the users on the platform. You guys have have experienced a lot of growth since you started. So why don't you start, give us a story and then maybe some of the milestones that you're proud of that you've hit while building this.

Jeri (00:10:20) - Yeah, yeah. So my husband and I are the founders of Stratafolio, so he's the CTO, I'm the CEO. And this all started because we had real estate and we were in the corporate world. We were buying real estate. And then every single month we were creating a spreadsheet and updating the spreadsheet. And at the time, I was a director at Pearson, ran an almost billion dollar contract, and Ariel was in the aerospace industry, where he was a senior software systems engineer, and he built software for cockpits of airplanes. So nice paying jobs, got bonuses on a regular basis, reinvested that money so that we could we could make the most of of our time in those positions.

Jeri (00:11:08) - And we just noticed this immense amount of manual work we were doing unnecessarily. Yeah. And we checked around, looked at what was out there. And, you know, there are some solutions out there, but they really weren't getting at what we wanted to see, which is portfolio performance. Not not just my or my tenants paying but portfolio performance. And then we had the opportunity to go through the Iowa Startup Accelerator program, and that's where we had the opportunity to work with some commercial real estate developers in our in our local area. And at the time we were buying real estate, we started in residential, and at the time, we we didn't realize that our idea really translated to commercial. And they had, because it seemed so strange that such a large industry would not use modern technology. And they had the exact same problems that we did. But, you know, when you think about having $100 million portfolio, that's any problem we had was magnified for them. Anytime they had to go do a do a refinance or buy a new property, they had to go back to their dozen or so spreadsheets that were massive.

Jeri (00:12:31) - Yeah, that were put together by multiple CFOs and controllers over years. And nobody like there was this question of what's the truth? Nobody really knew the truth. And every time they had to go do a new loan, it was it was a massive amount of rework trying to figure out everything. And your data is only good for like 15 seconds, right. Because constantly changing. And so these people had the same problem we did. So we before we actually put a any code out there, we actually did a created a mock up spreadsheet and just really pushed it to the limits and figured out this is what we want to build. And we got feedback from just went back out to the market and got feedback that this was a really good thing, that people needed this. And then we started development, and then we launched the product in January of 2020, just prior to Covid started starting. And. We've been able to grow year over year over 100% year over year growth because it is we have hit a nerve.

Jeri (00:13:46) - There is we have very little competition in this space, but the need is great. Our biggest challenge is really letting people know that we exist, that you don't have to manage your you don't have. It's not a either or where you buy yardi all the way at the top or spreadsheets. There's something else. Yeah, something else that can take care of your problem.

Josh (00:14:10) - Yeah. So Yardi is considered competitor, but they're a little bit further down the line. What's different than you and Yardi?

Jeri (00:14:18) - Yeah, I would I consider Yardi specifically Yardi Voyager really a enterprise level product. So if you are someone who has, you know, 20, 30, $100 million in assets. Probably Yardi Voyager is not your choice. And maybe, maybe they may consider some of the other products that are out there that are what we would call residential focused and. Those probably are not a great fit either, but we do find that we are picking off customers from some other competitors out there that really are they focused on multifamily single family homes, and they try to address commercial that has lease escalations and camera consolidation, but they just struggle with that.

Jeri (00:15:09) - And at the same time, these owners have five, ten, sometimes 15 years of data in QuickBooks. And so it means that they take data out. They they partially takes use those products. Those software products still use spreadsheets to do cam reconciliation because the products don't really support it very well. Still have QuickBooks, have to take data from those systems and put it manually, put it into QuickBooks so they end up still. What they very disconnected system. Yeah.

Josh (00:15:46) - And this this is for families that didn't go to school for accounting or finance or, you know, property management or asset management. Right. This is something that they maybe grew up in. And everybody's doing, you know, their best, but you've kind of found the niche of family owned or small small group owned large, you know, medium to large sized portfolios. That's just not ready for enterprise level software to, to put that kind of investment. So since starting what year did you begin.

Jeri (00:16:20) - January of 2020 right before Covid.

Josh (00:16:23) - That's a great year to get started in a software company.

Josh (00:16:25) - Wow, that was a crazy year too.

Jeri (00:16:28) - Yeah, yeah.

Josh (00:16:29) - Um, how far have you come? Give us some give us some milestone that you've achieved that you're proud of.

Jeri (00:16:35) - Yeah. So we have over $6 billion in assets. Nice. We have customers across the United States and Canada. Um, we have. We have expanded the product every single year because we are listening to our customers. So now our customers can do ACH through Strada Folio, they can do Cam reconciliation, and just in just one click, just seconds is all it takes them. Um, they can provide their debt summary or um, real estate owned report to their lenders and just minutes all of the stuff that may have taken them hours, days, weeks to do, they can now just do it in a short amount of time.

Josh (00:17:23) - Yeah. When you're talking ACH, are you talking about receiving payments from their tenants?

Jeri (00:17:28) - Correct.

Josh (00:17:28) - Yep. What about bill pay? Do you guys do that kind of stuff too?

Jeri (00:17:31) - We don't.

Jeri (00:17:32) - So we don't do bill pay. We let that can happen all through QuickBooks. But we do the tenant side of ACH. So we match up, which we know a lot of owners struggle with matching up the payments that come in from their tenants to who actually paid. So we can we can see we can do that match up very quickly and easily for them. So at any point in time, they can just run a report and say, here's, here's all my tenants who haven't paid this month last month. It's it's very simple.

Josh (00:18:01) - Yeah. And then they get some type of notification saying, hey, by the way, so-and-so didn't pay this month, right?

Jeri (00:18:07) - They can pull a report at any point in time on which which tenants have not paid.

Josh (00:18:13) - Okay. That's pretty cool. Very nice. Um, all right, so you guys have start this 6 billion now under under assets. And this is an early company, correct? What were some of the challenges you faced in being a female in the world of tech, in the world of commercial real estate?

Jeri (00:18:31) - Yeah.

Jeri (00:18:32) - You know, I, I don't ever think of myself as female. Um, when I'm doing this stuff.

Josh (00:18:39) - That's awesome.

Jeri (00:18:40) - I'm just a person who has a product, and we are talking to to customers. We're talking to investors, we're talking to the media. I'm just a person telling my story. But I do know that there are not that many people in commercial real estate, and there are even fewer people in in tech that are female. So it is a when I stand back, I know it, but don't focus on it on the day to day. Yeah.

Josh (00:19:10) - And and I'm sorry to make that assumption and even ask that question. But as I look at the landscape and I've interviewed thousands of people when talking about commercial real estate, the amount of females like my friend Beth, you, and there's a few like Anastasia, there's a few of my friends that are really crushing it in real estate. And, you know, they but if you if you put everybody in the room, it's the minority.

Josh (00:19:33) - And I, you know, I have two daughters and I would love to see them get into dad's business and, you know, do better than me. So I'm inspired by that. And I and I appreciate you sharing this. Um, so as you're, as you're building it out, right, you guys have, you know, had both corporate jobs that at what point did you say, are you guys both working there or did you guys hang up the hat there?

Jeri (00:19:56) - We both peeled off at different times. So we spent some time where we were both working and doing this at night. Yeah. And then I peeled off first because I had an opportunity to to leave my, my position. So I peeled off first. Uriel went part time, which allowed us to still have insurance. And then eventually, when you could tell that him being full time or even being part time was hurting the business and where we wanted to grow, then he killed as well. Um.

Josh (00:20:29) - That's a scary event.

Josh (00:20:31) - What were the conversations right before him going full time into that? What does the dinner time look like? What did that conversation look like?

Jeri (00:20:40) - Yeah. It was, it was a I mean, we we sensed it was coming. Um, I mean. We didn't start this when we were in our 20. So we were, you know, more mature, more seasoned among along a lot of different topics. And so we were preparing we knew this is what was going to come at some point. And it really just became just this calculation of, okay, if I continue staying in my job, where does this really how does this really impact the business in the long term? And so when we knew that calculation was it's time to make the change. Yeah. Trigger.

Josh (00:21:19) - Yeah. When one of the factors that's really hard to prepare for is opportunity costs is what happens if we don't do this. We could look at like, what do we lose? Right? We're going to lose this income. We're going to lose insurance.

Josh (00:21:34) - We're going to lose the security and stability financially. But it's hard to go, well, what if we go all in and that's a that's stepping into faith. Hope you know like it's the unknown, the uncertain. But by this point you guys have built, you know, a reoccurring revenue. You guys have. You've been growing year over year 100% year over year, which is phenomenal. Great job really. Hats off to you. But it's still uncertain as you guys are building. Like how do you how do you keep a positive mindset. How do you keep a growth mindset? How do you keep on with, um, you know, keep on accumulating more and more, more and more growth in the company? Like what what advice would you give to us dealmakers?

Jeri (00:22:21) - You know, it always comes back to what does the customer want? Yeah. And we never stop listening. And whether they're buying or not buying, they have something to tell us. And it's really digging into that conversation about why did they buy the product and then what would make them be in the product every single day.

Jeri (00:22:44) - What makes us so invaluable to them that they want to keep coming back to the product. And and our goal is to never stop those conversations, because everything we have built has been based on feedback from our customers. We didn't we didn't realize that certificates of insurance, for instance, were such a big deal to our customers until it kept coming up over and over and in conversations. And then we dug into it. And just about every single client we work with has a spreadsheet to track certificates of insurance of their tenants, and they do it pretty consistently poorly. And yet at the same time, a number of them have been bit badly by tenants dropping insurance. Maybe not intentionally, but accidentally whatever for sure. And then and it's really a breach of contract contract. But then natural disaster happens. And then the owner is on the hook.

Josh (00:23:49) - Oh my gosh. Just that alone. We've seen that in Florida happen. You know, like on the coastal spots, man, insurance is really, really a challenge.

Josh (00:24:00) - So just staying on top of, you know, your insurance and compliance with people's lease agreements is is challenging. Right. So we should either to scale and to grow efficiency. We either need people who could do it or technologies, tools and technologies that could do it. So way to go. Finding the the little sweet spot in the commercial real space real estate space to do that. Um, what what have you found while building a tech company? What have you found was one of your greatest resources to kind of help you navigate these unclear, uncharted territories?

Jeri (00:24:41) - You know, we rely a lot on our network. Um, so we're a part of the National Association of Realtors Reach program. What's that? That is so through Second Century Ventures. That's the investment arm of National Association of Realtors. They have this program called reach, and every year they invest in about eight tech companies and residential and eight tech companies in commercial. And so we are one of the 2022 reach commercial programs. And so but that entire program.

Jeri (00:25:21) - Allows us to align with some tech leaders in commercial real estate, and it is talking to other. Founders about, okay. How have you dealt with this? Hey, what's another angle to deal with this? What's how do you handle this? So we have a list of people that we work with there. We've also and through that we went to conferences and we've met other founders. So like Stack Sources is a one of the our partners that we work with. And they're they're a great source of information. And we've bounced ideas off of them on a number of things. But it's really just finding this network of people or companies that you fit well with. Like you can help each other out and help each other grow. Yeah.

Josh (00:26:15) - Network. My CEO and I were just talking about this yesterday. We were trying to figure out a decent sized deal, and we're looking at it and we're reading through all the docs and we're like, why are we doing this? Why don't we just reach out to someone in our network? Because we have a massive network, like, why don't we just reach out to them and ask them? And they'd probably want to participate anyways.

Josh (00:26:35) - But sometimes we just get caught as founders with your head down, looking at a computer or a screen or, you know, camera or something like that. We forget about the people that can't wait for the solution that you're building. So really, really good for you to to really tap into your network of doing that. Um, as you're building this, what does the future look like for you?

Jeri (00:26:58) - Yeah, well, the future for us is so we've already implemented some within our platform. Cool. And we're continuing to expand that because we see all kinds of applications for that. Now, we we don't do like ChatGPT AI within our application because our customer's data is private and we respect that. So we're building this out ourselves. But we're given the goal is to be able to do more benchmarking and provide more data for these owners to be able to operate and react quickly to things that they're seeing in their portfolio. Mm.

Josh (00:27:40) - Nice. So when you look at the the landscape, what kind of opportunity is there? You currently manage, you know, 6 billion, which is amazing.

Josh (00:27:52) - Like what kind of growth trajectory could you take advantage of in accumulate? You know that that maybe these bigger guys aren't paying attention to. What's the growth that you could touch?

Jeri (00:28:05) - Yeah. So when you think about all of the owner operators of commercial real estate out there, um, really that that small segment of top is who is who everyone is after, right? But really, if you think about it, just on 80, 20% rule, 8020 rule is most of them are at that small to midsize range. So really that that pool of people that we're after is much larger than somebody who has an enterprise level product. Um, we think there's probably 400,000 companies out there that we could go after that fit within our our criteria.

Josh (00:28:48) - Wow. Super cool. So this is really great what you've built. Has your software found helpful for your own managed real estate that you guys have purchased over the years? Like, ah, as you're building this, you're like, oh, this is actually pretty helpful over here.

Jeri (00:29:05) - Yeah, yeah, we definitely use it for our stuff. And anyone who is a Stratafolio employee can use it as well for free because we want them to to use it every single day, give us additional insights on what would make it useful for them. And we want to help our employees grow as well. In, in just in not traditional, um, stock performance kind of way. Yeah.

Josh (00:29:32) - I was just thinking about that this morning is, you know, with they call it the deal winter and we're recording this in November 1st of 2023. There's a lot of weird stuff going on in the economy. A lot of fear, a lot of uncertainty. It reminds me of being in real estate back in 2006 and seven, maybe right before, you know, the world kind of got funky. But what when I see this, I see now because I've been through a few cycles, I see this as an opportunity to do more. Because when there's fear and uncertainty, you could come up with solutions that really, you know, optimize portfolios, increase people's profitability.

Josh (00:30:18) - Like there's so many opportunities to use your software leading into weird times, which we might be, I don't know, I can't tell the future. So how are you guys prepping and preparing for maybe a good market or maybe a bad market? Like, do you guys have strategies for, you know, how the marketplace returns?

Jeri (00:30:37) - Yeah, yeah, actually we are talking to all of our customers right now about what did they need to be successful again, it always comes back to what our customers need. So we're having those conversations with them, and we're also picking up on the trends that we are seeing. And one of the trends that we are seeing and it's showing up in the media now, is there is this $53 trillion wealth transfer that is happening from baby boomers to that next generation. And those those companies are fairly significantly sized. They're not overleveraged, but they need a tool to help them modernize. They need a tool to help them centralize their information so that they can actually truly retire and go sit on the beach or go fishing or whatever it is that they're going to do, but they need to get that information out of their heads, out of their drop boxes and paper files and email and get it all into a consolidated place and understand who really owns what, what percentage.

Jeri (00:31:46) - So everyone has a clear idea on how it's operating. And then if Mom and dad are transferring that down to that next generation, and then next generation is not going to be sitting in the office every single day running it. They need a tool or a set of tools to help them do that. And that's really where Stratafolio comes in, because everybody can have visibility to it. And there is a structure, there is a mechanism and a process to manage all of those tenants so that you can provide them superior service without having to do. As much manual work to do it.

Josh (00:32:26) - Yeah, that's super cool. So something to consider. You know, for owner operators out there who are maybe one day looking to build this portfolio and either hand it down generationally or sell it. Right. You've been you've invested your whole life in building this portfolio. It's great. But you're ready to, you know, maybe move on to your next adventure or to a, you know, sailboat somewhere. Who knows, right? If you go to sell your portfolio and you have to look through all these spreadsheets and notebooks and notepads and sticky notes and all this stuff, that takes time and money and your.

Josh (00:33:03) - But having a something with a system and a process built in standardize across the board, it's easier to transfer because we are looking at that. The largest transfer of wealth is occurring, the seller tsunami, the silver tsunami.

Jeri (00:33:16) - Yes.

Josh (00:33:17) - Yeah. This makes your portfolio more valuable as a whole.

Jeri (00:33:22) - Correct. And and for for that current owner operator, maybe they just want to continue holding if they have to refinance, or we are talking to a number of people who are growing their portfolio because they have cash and they are taking advantage of this opportunity in the market right now to continue to accumulate. But if they have. We talked to lots of different lenders, and lenders always tell us that delays in getting information to that lender, or mistakes in getting in the information that is delivered to that lender, or providing the previous year's tax returns to the lender. As here's my information, all of those are considered risk factors. And what that means is for that lender, that means they're going to be putting a higher interest rate on that.

Jeri (00:34:17) - Those refinance loans or any new loans that are coming through. And right now, lenders have to be much more careful than they were in the past. So when, when when an owner operator comes in and submits their schedule of real estate owned and their rent roll and it's pristine and fast, that shows confidence for that lender. So it's probably going to mean lower rates for them. And the same thing when it goes for selling, right. The the. You're going in from a position of strength, clarity and confidence rather than I'll get you that information, let me go back. Let me put that together. Whoops. There was a mistake there didn't I forgot to update that every single time that happens that just it it breeds confusion and concern about that that management. And then you dig further, and then you dig further and keep. It just it results in bad things for that owner.

Josh (00:35:21) - Yeah. Oh my gosh. Wow. I'm thinking of a story that when my dad passed away, my mom had to go in and try to figure out everything, right? And then when she passed away, my family had to try to figure it out.

Josh (00:35:43) - And it was a complete disaster, right. In terms of like the financials, the reporting, the books, the rents, the rolls, all that stuff and it going through. I'm just thinking about succession planning, the amount of like the amount of pain that we're already facing during the loss of a family member now trying to figure that out. So what I'm trying to get at is for, for you listeners out there who you've been building this and your family and you and you've got it under control, probably. Let's just say you do. Think about your spouse or your kids when and if you you know, we're all going to pass away at some point. By the way, 100% certainty of a 100% mortality rate currently. So what does that look like for them after that? So I just want to encourage you guys let's get our stuff together. I'm trying to do that now. And I'm 41 trying to get my stuff together. So when I do die my wife my kids don't have to deal with that.

Josh (00:36:45) - On top of loss of dad, loss of parent. And I'm sorry, I hate to get jump on a soapbox, but that that that just happened to us and that was really tough. So I want to encourage other owner operators to really explore software like this, partnerships like this. Because man, I could speak from personal experience. That was brutal. Um, Jerry, sorry for for jumping on that, but it was I feel like my audience, you know, needs to hear that kind of stuff.

Jeri (00:37:12) - Yeah, yeah. And, you know, it's it's surprising. We've we've worked with a number of clients who are actively in that succession planning. And they, they just come right out and call it succession planning. Um, and it's surprising how much is really still in their heads as the owners. Yeah. And, and you know, we've gone through this activity. It's all documented now. It took us a while to, to get it all out. But you know, they'll, they'll be and some of the stuff was the only the owner really knew or could.

Jeri (00:37:47) - Kind of get us close to what that information was because, you know, after a certain amount of time, some of these leases have been in place for a while, and it was a handshake deal at the start and, you know, there. But at some point it all has to get in a electronic form so it can be managed by that next generation.

Josh (00:38:07) - Yeah. Nice work for creating this. Where could people go to learn more about you, connect with you and maybe explore your software?

Jeri (00:38:15) - Yeah, they can go to Stratafolio actually can look on on my my name there. I know it's a long name there. They can schedule a demo directly from any of the pages there. We talk about our pricing. It's right out there. We talk about all the places where we help our clients. There's little videos all over the website, so check it out there or they can give me a call at I can give you my number if that would be a better way to go, but they can just call me directly at (319) 569-6328.

Josh (00:38:49) - And that's strata strata folio f o l I o total commercial property management software. What we'll do is we'll put your links and your contact information in the show notes. So people listening in could say, hey, that really applies to me. And I'd like to at least take a look at it during this interview. There's probably a question that I should have asked you that I did not ask you. Jerry. What is that question?

Jeri (00:39:17) - Yeah. So who is just to reiterate, who is Stratafolio for? We are for people who own and operate commercial real estate multi year leases and use QuickBooks. We will dramatically improve your lives. We reduce work the manual workload by over 80%.

Josh (00:39:36) - Yeah. No. Super awesome. Jerry, thanks for coming on the show. Fellow members in the audience, as always, reach out to our guests to say thank you. Their contact information will be in the show notes if you have a deal. If you are looking to expand your portfolio, maybe buy some stuff, sell some stuff in commercial real estate.

Josh (00:39:55) - We'd love to have a conversation with you and maybe even get you on the show. Head on over to the deal Scout, fill out a quick form and maybe get you on the show next. So then we will talk to you all on the next episode of the deal. Scout. Bye, everybody.