The Multifamily Consortium is you! In fact, it's a bunch of yous helping founders and operators effectively engage and grow within the Multifamily marketplace. Your expertise and industry connections help bridge the gap between potential service providers and the Multifamily sector, driving mutual success.
At any given time, there are dozens of businesses that provide services and technology solutions that can benefit the Multifamily Industry, but often founders and operators of these businesses don’t know how to effectively engage and grow in the Multifamily marketplace. That's where you come in!
A Tester is defined as an executive champion at a property management company (PMC) with more than 20 properties under management. A Tester has enough decision-making power and/or influence to get their respective PMC to agree to a minimal product test regardless of whether the PMC ultimately purchases the product.
Multifamily, as we all know, is a highly-relational Industry. There are experienced individuals within Multifamily who have cultivated a substantial network of contacts that understand which products can potentially benefit which PMCs and introduce these product/business/solution teams to each other.
Emerging businesses often require capital to build, test and expand their Multifamily footprint. Most, if not all, MFC candidate companies will have an opportunity to invest at various stages and various levels.
Forming a group of initial PMC testers allows the product/service to be refined. PMC teams can see in real-time the business’ onboarding and training needs, as well as the material impact the product has. Feedback is provided by the respective PMCs directly to the founders/operators allowing the product to quickly adapt. The PMC follows a green/yellow/red light process, green being ready to buy, yellow indicating the product needs additional work, or red, meaning the product is not a good fit for the PMC.
Regardless of whether the product/solution is ultimately purchased by the PMC, the test will be considered successful upon the completion of all the action items listed above. A successful Tester can receive ownership of and/or compensation from of the candidate company in a number of ways so as to avoid any conflicts of interest. There will only be 3 Tester slots per candidates company.
A Connector makes introductions to unique PMCs (meaning PMCs not currently involved with the MFC candidate company) for testing and eventual adoption of the product/solution. Connectors might also have Investor connections and should one of their Investor connections elect to invest in the candidate company, they can earn equity in this manner as well.
An Investor is defined simply as a MFC participant who supplies cash for an equity position in the candidate company. Candidate companies will be either pre-revenue, post-revenue, and/or profitable. Equity amounts, share types and valuation caps will be based on the candidate company status. Investments will normally be in the form a SAFE Note, but other investment types can be considered.
Investors can also contribute in other areas such as a Connector and/or a Tester.
The Multifamily Consortium meets every quarter, ideally in person at Industry events. If an event isn’t timely, a video conference will be conducted. This video conference would be recorded and disseminated to all MFC participants so they may review the quarterly offerings and determine what their participation might be, if any.
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