ARGO PROPERTY GROUP

Increasing Efficiency to Maximize Portfolio Performance

Headquarters

Argo Property Group
Philadelphia, PA

Investment Type

Syndications

Year Established

2015

A Bit of Backstory

Argo Property Group is a real estate development, investment, and property management company based in Philadelphia, PA. Founded in 2015, Argo has built more than 165,000 square feet in new development and grown their budget from a modest $60,000 to a portfolio valuing over 30 million dollars—which they hope to double in the next three years.

A Partnership with AppFolio

Argo's Chief Risk Officer and Partner, Jeremy Terr, manages finance and investor relations and guides acquisition strategy and performance. We met with Jeremy to discuss how they are using AppFolio Investment Management to leverage investor relationships in order to hit their goals.

How has AppFolio Investment Management impacted investor relations?

It's been an absolute night and day difference. Before AppFolio Investment Management, we were sending equity documents and managing all communication through email. There would often be documents lost by investors causing us to resend them multiple times. The process of sending K1s was a circus act and an embarrassment that we didn't have the facility to provide a more professional experience for our investors. It was also time consuming; our investors often had to ask the same question multiple times because there was no one single source to share information about profitability, distributions, and capital contributions. Now that we are using AppFolio Investment Management, we are fully taking advantage of the online investor portal and our investors love it. From being able to see their documents to receiving regular updates, they are getting a full picture of their portfolio.

A double quotation mark. Now that we are using AppFolio, we are fully taking advantage of the Investment Management portal and our investors love it. From being able to see their documents to receiving regular updates, they are getting a full picture of their portfolio.

— JEREMY TERR, Chief Risk Officer and Partner of Argo Property Group

What processes are you streamlining with AppFolio?

Internally, AppFolio Investment Management has helped Argo stay completely organized. We no longer have to sift through folders to find information. Everything is online and easily accessible. The software is incredibly intuitive and very malleable to meet our complex needs as a small rapidly growing company.

From an accounting management perspective, it's much easier. We previously communicated investor returns and capital account balances by email through Excel spreadsheets. Sometimes our investors would be looking at an out-of-date version, and that created a lot of confusion. With AppFolio Investment Management, financials for each of their investments are found easily in the investor portal, readily available for them to view 24/7. Investor agreements are uploaded into the investor portal, which our accountant updates to show where capital contributions have been applied. We close out our books monthly and there's an easy place for our investors to review the updated balance sheet and profit/loss statements. Their individual dashboards show monthly increases of distributions from their rental performance and interest from loans or distributions from investment properties.

How was your transition into AppFolio Investment Management?

The onboarding process was easy and intuitive. We found the development team to be very receptive and they had a positive and open-minded attitude. I love how transparent they are in sharing what's on the road map for the product and I get very excited knowing that as our needs are expanding, AppFolio is right there with us. Even small updates have given us huge performance improvements.

A double quotation mark. It streamlines the fundraising process and helps us raise more capital from each individual investor. It helps us communicate clearly and consistently and ultimately gives our investors greater confidence in our business so they are confident investing even more with us.

— JEREMY TERR, Chief Risk Officer and Partner of Argo Property Group

How is AppFolio a partner with you and your business?

A partnership is a good way to describe the relationship that we have. When we share our methods and practices or present problems that need to be solved, the development team takes ownership and we find solutions together with the team directly responding to our needs.

How will AppFolio Investment Management help you achieve your business goals?

Ultimately, we'll be able to raise more capital through fewer investment vehicles. AppFolio Investment Management makes our business look professional to seasoned investors and wealth advisors. In order to achieve the level of growth we are seeking, this is key. Our experience with AppFolio has been very positive and the responsiveness of the team as well as the ability for the software to meet and adapt to our unique needs has been fantastic. It feels like it's been tailored to our individual business needs and doesn't put us in a box.

Would you recommend AppFolio Investment Management to other investment managers?

I would recommend it strongly to others in our area who are working with investors. It streamlines the fundraising process and helps us raise more capital from each individual investor. It also helps us communicate clearly and consistently and ultimately gives our investors greater confidence in our business so they are confident investing even more with us. And lastly, the number one thing that makes AppFolio Investment Management integral to our business is it provides professionalism in the interaction between the developer and the investor.

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