Customer Story

KRI Investment Ltd: Confidently manage investor perceptions

Headquarters

Cleveland, OH

Investment Type

Funds, Syndications

Asset Type

Multifamily

Established

1997

KRI Investments is a multifamily real estate investment firm operating in Central and Northern Florida. We sat down with Ken Gee of KRI Investments to learn about what the company has been up to and how they enjoy using our software. Ken Gee founded KRI Investments 23 years ago in Cleveland, and then 15 years ago moved the operations to Florida, where he focuses on value-added multifamily deals.

What are your bigger goals for KRI?

Our big immediate goals for KRI are to finish wrapping up our current fund and then grow into a second, third and fourth fund. We are aiming at steady growth, keeping our feet grounded and utilizing the infrastructure that we have access to. In the long run, we want to stick to our core competency (multifamily) and stand out in the market as one of the best firms doing this.

Why were you looking for when you decided to adopt technology for KRI?

It was necessary to adopt technology, especially with the pandemic. Investors were asking for a place to go and look at their portfolios, and we recognized we needed to provide that digitally. When you are growing as a business, outside perception is very important.

Our investors’ expectations for us to provide a view of their portfiolio was a significant catalyst in us deciding to adopt AppFolio Investment Management. We realized that providing investors with a self-serviced administrative platform would create a better perception of us out in the market, and we didn't mind investing in a solution for it.

We realized that providing investors with a self-serviced administrative platform would create a better perception of us out in the market, and we didn't mind investing in a solution for it.

Ken Gee,KRI Investment Ltd

A rectangle made out of light blue dots.

Why did you choose AppFolio Investment Management as your technology solution?

The primary motivation was that we wanted investors to have the ability to access their data whenever they needed and have a central portal to check all information we sent them. We communicate with our investors at least quarterly and send them an array of multimedia material. The need for a legitimate Investor Portal led us to your AppFolio Investment Management, which does an excellent job.

Secondly, AppFolio Investment Management came out as pretty secure. Investors' personal information and a host of other legal documents are in the Investor Portal, and I was confident this information would be safe.

Finally, another reason I chose AppFolio is because of the company’s reputation. Most people know who AppFolio is, and they trust that name. That was a significant motivator.

A swimming pool with a multi-family housing complex in the background.

How have your investors responded to the Investor Portal, and what impact has AppFolio had on your relationship with investors?

Investor adoption of the Investor Portal has been significant, and this being a solution that investors were asking for or expected us to have, has made investor relations easier. The pandemic was also a huge catalyst for investors being willing to use the Investor Portal, because you needed to embrace technology in this period if you were going to achieve anything, and they recognized that.

What advice can you give other investment management companies looking to adopt software?

When it comes down to recommending AppFolio, yes, I would highly put in a good word for your solution. The AppFolio reputation, your costs, your ease of use, and your customer support is outstanding. Anytime we don't understand something, we always get an excellent hand-holding from you.