ReSeed Partners
51 posts

ReSeed Partners
@ReSeedPartners
Seeding local real estate operators - Partnering with long-term investors


Today I sit down with two of my best friends, Moses Kagan and Rhett Bennett to reflect on how ReSeed has evolved since their first appearance (ep. 278) on the show three years ago. ReSeed is on a mission to back the next generation of elite real estate operators. We unpacked what has actually happened since launch, how their original vision has held up in practice, and what they have learned by deploying real capital across multiple markets and operators. We also dug into how they think about underwriting, operator selection, asset management intensity, and navigating a shifting multifamily landscape. It was a candid look at what it really takes to build a disciplined, long term real estate platform in today’s market. We discuss: • How ReSeed’s original thesis has played out after deploying over $100M across multiple operators • What they look for in emerging operators and how the cohort selection process has evolved • Why discipline and patience mattered during a slow deal environment and when opportunities finally opened up • How they approach underwriting, leverage, and long-duration capital in different markets • The realities of asset management, property management, and execution risk at smaller deal sizes This episode is for investors, operators, and anyone interested in building durable real estate businesses with long term alignment and disciplined capital deployment 4:01 - ReSeed's journey and evolution 17:14 - Profile and selection of operators 25:10 - Partnership and capital structure 37:39 - Due diligence and deal approval process 40:51 - Cohort integration and support 42:55 - Real estate market overview 43:22 - Market opportunities and challenges 50:41 - Market fatigue and seller dynamics 51:20 - Operational challenges and opportunities 1:01:50 - Property management and asset management 1:11:36 - Construction management and budgeting 1:15:06 - Capital allocation 1:23:34 - Closing remarks











Last year, some co-founders & I launched ReSeed, a sort of "Y combinator for real estate operators" (not affiliated w YC!). Writing to update you on progress & also to try to convince (some of) you to apply for Cohort Two. First, the update. In the past ~year, we: - Launched Cohort One w eight operating partner businesses (selected from among >600 applications) - Raised ~$55MM in discretionary capital & shook hands on >$100MM in deal-by-deal capital from a few large investors (Side note: Has been incredible to work w co-founders who have such broad & deep networks of their own) - Slow '23 on the acquisitions front, due to pricing not having adjusted yet - Productive '24: Closed on three transactions (Jan., May, June) all cash, with another expected to close in July Our goal for the rest of '24 & into '25: - Continue to support Cohort One as they execute the deals they've bought & hunt more, in what is becoming an interesting buying environment in some markets (not LA!), & - Recruit ~four mid-career people interested in building large, independent, long-term-focused multi-family investing businesses to join Cohort Two. If that sounds like you & you're interested in applying, pls click the link below. (Note: As part of the process for selecting Cohort Two, we are reviewing last year's applications again. If you previously applied, no need to apply again, unless something dramatic has changed on your end.) reseedpartners.com/insights/fall-…








