Transcript
The Brief Interviewer (00:18.648)
Welcome everyone to a special episode of The Brief. The following interview with Sashin Latawa of Tirios was filmed live at our invitation-only Olivon Advisors Spring 2025 conference in Austin, Texas. Let’s get started. Sachin, what is the Tirios value proposition in today’s market?
Sachin Latawa (00:40)
We built Tirios to tackle two simple things. One, how to make real estate investing simple and how to make it more accessible for retail investors. We think real estate is the best performing asset class over a long period of time, especially when you consider an income producing asset class. But we also know that 95 % of the population currently cannot access this asset class. So our mission has been how do we make it simple for retail investors to get exposure to this asset class, but also make it accessible so that they are not boggled by the complexity of how real estate works and get access to this asset class, which could be a great performing asset class for them for a long period of time.
The Brief Interviewer (01:30)
Please discuss the competitive market landscape today. How are investors able to access single-family rentals today?
Sachin Latawa (01:37)
So currently, there are no good ways for people to invest in single-family. The best way possible is go is to look through, spend six months trying to figure out if you want to buy a rental home, spend hundreds and thousands of dollars and be able to write a six figure check at least to get into exposure to this asset class. What we believe is a better way to do it is to be able to allocate smaller dollar values so it gives an opportunity to get started early for most people without having to save $100,000 and then be able to start investing with in different locations, different projects and all of that, the landscape has been very restrictive. There are few companies which are trying to do different aspects of what we do, but none of them has been able to do a complete compliance package with SCC and also be able to do a vertically integrated platform. We believe the best value proposition of this asset class is better risk adjusted returns other than the access to this, right? And all the competitors have different intermediaries still in the process, which takes away the benefits of having the one integrated value chain and really impairs the returns for individual investors.
The Brief Interviewer (03:02)
Please give us a sense for the size of the market opportunity you see for TRIOS.
Sachin Latawa (03:08)
So the market is enormous, right? There is a 10 trillion dollars with a T, which is the market size of this asset class. But the flip side of that is it’s very fragmented. So 90 % of the asset classes owned by one individual investor at a time. So there’s a lot of opportunity not only to make a lot of inroads but be able to consolidate this asset class and be able to make it more accessible for other 95 % of the population which is not currently invested in this asset class. It’s bigger than multifamily, it’s bigger than office, it’s bigger than any other asset class in real estate itself as well.
The Brief Interviewer (03:53)
Are you set up to scale? Please give us a sense for the technology behind the TRIOS platform.
Sachin Latawa (04:00)
So we are really excited about the technology which we have built so far. And we see that as building blocks for how to be able to scale the platform. We have AI underwriting and sourcing model, which underwrites up to 5,000 to 7,000 homes in a matter of minutes, which gives us the opportunity to focus on the right opportunities on any given day. And then when you add in the layers of tokenization, which gives us the opportunity to tokenize the asset, be able to bring them on chain, add transparency, as well as enable the secondary market, which comes along with tokenization, it’s been a game changer with the discussions we have had. And not to miss on the AI opportunities in terms of property management. Property management has been one of the biggest challenges in SFR space for even the institutional investors. The way we have approached that space is bringing an LLM-based AI platform, which tackles roughly 80 % of the interactions with the tenant today. So it makes it possible for us to be able to scale that aspect of operations aspect of the platform as well, and not only the investment part of our, over the long period of time.
The Brief Interviewer (05:22)
What are your target residential markets and where do you see valuations today?
Sachin Latawa (05:27)
So we have started buying most of our assets. Currently all of our assets are based in Austin. We think Austin is still the best real estate market, which is set up for a long expansion over the next 10 to 15 years due to good regulatory environment, which Texas offers, a lot of immigration and a lot of tech ecosystem, which is being built into Austin at this point. and not to forget UT Aura, which brings in lot of people into the space. We’re looking to expand into second and third market in the next 12 months, which will be Dallas and San Antonio for us. And then we see that as an opportunity to be able to go to a second state and a third market in the next 24 months.
The Brief Interviewer (06:21)
What are your goals for 2025?
Sachin Latawa (06:24.494)
So for the next 12 months for us, we want to go from 10 assets, which we are currently at, to about 100 assets. And the way we see that is to be able to bring four to five assets for the next three to six months on the platform, and then be able to scale that to six to eight assets for the later half of the six months. So the goal would be to get to about 100, which unlocks a lot of opportunities in terms of debt facilities for us as well and makes the cost of capital a bit more beneficial. And then the second 12 months from there, we see that an opportunity to do another 300 assets. So our goal for the next 24 months would be to reach about 400 assets.
The Brief Interviewer (07:09)
Thank you for joining us here at The Brief by Olivon Advisors. For more information on our presenters, please visit olivonadvisors.com/companies. Want to join our mailing list? You can by signing up at olivanadvisors.com. We look forward to seeing you on the next episode of The Brief.
