A Bullpen Company
ReSeed was built on the premise that commercial real estate needs a Y-Combinator-like accelerator: identify promising operating partners earlier, provide modest operating capital, and earn a first look at the deals they source - then help capitalize those assets.
They incorporated in early 2023, raised capital, and a single tweet from Rhett’s co-founder (with a strong operator brand) generated an overwhelming 1,300 investment and operating partner inquiries in 12 hours.
From there, ReSeed remained disciplined on deployment. They made no acquisitions in 2023, purchased only a small asset in Q1 2024, and didn’t begin deploying capital in earnest until the back half of 2024, at which point the need to add another resource became immediate.
As ReSeed added assets in different geographies, they also added multiple property managers - each with different tools, processes, and levels of accounting sophistication.
That created a potential problem: ReSeed needed a standardized set of financials across the portfolio, and that’s far harder than it sounds.
Rhett had a blunt view of the industry risk:
“I would be willing to bet a lot of money that the vast majority of financials that come from real estate syndicators are wrong.”
For ReSeed, "good enough" wasn't acceptable. Accuracy mattered for two reasons:
ReSeed had strong reporting - but it was taxing the leadership team, pulling time and focus away from growth. Rhett knew that if they waited too long to get help, they risked slowing down their growth.
ReSeed didn’t need a full-time controller yet. Like many early-stage businesses, the workload was lumpy.
As Rhett put it: business growth can be linear, but hiring is a step function. Fractional talent bridges the gap.
“When you’re small, doing that in a fractional manner is a much more effective, cost-effective way to do that—if you have a great candidate.”
OnDeck surfaced two candidates quickly. Alex stood out immediately on paper, but Rhett moved fast to validate the fit in the real world:
Technical validation: Alex answered detailed questions in a way that showed he’d supported the exact scope that ReSeed was envisioning.
Work product test: ReSeed gave Alex a real project (CAPEX policy) to see how he thought and executed.
He delivered quickly - and the output matched how ReSeed’s team would have approached it.
“(Alex’s) resume aligned with his answers, and then his work product aligned with our hypothesis.”
Alex didn’t need a long runway.
“He immediately was delivering work product - policies and procedures, and financials that were further along than what we’d get directly from property managers.”
ReSeed needed someone who could work at two levels:
Micro: detail work, data hygiene, getting reporting right across messy inputs
Macro: understanding portfolio and organizational goals - not just accounting mechanics
“You can find great accountants that have no ability to connect to the commercial goals… that’s not what we’re looking for.”
Beyond competence, Alex could navigate friction points of multi-manager portfolios: persuading busy, sometimes “prickly” property managers to do the extra work required to get to the right answers.
Over time, it became clear Alex could not only do the work - but also collaborate across stakeholders to enforce consistency.
“You delivered more value than what I think we probably paid you. Frankly, we probably would have paid a little bit more.”
With standardized reporting and a controller who could operate across detail and strategy, ReSeed’s leadership team regained bandwidth.
The result: ReSeed could keep growing without having to pause and build the back office.
“You guys found the right candidate that allowed us to continue to execute without having to take a step back before we continue to grow the business.”
“We’re running an institutional-quality business where the numbers have to be right … You guys found the right controller that allowed us to grow without having to pause and build the back office.”
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