Meet the Mentor - Ofer Sudai
Tell us about yourself and your current role?
After 14 years as a commercial lawyer and internal auditor of multinational financial institutions and a leading law firm, I have been exposed to the exciting world of real estate when I joined a prominent multi-family office in 2011, to run its real estate arm. During the last 10 years, I took part in a large number of institutional and private real estate deals, involving all different asset classes in North America and Europe. I met many entrepreneurs, got familiar with many investment strategies and models, building myself a diversified experience and deep understanding of the real estate world. Married with 2 children and live in Givatayim.
From your point of view, how do you see the Proptech scene in 2021?
Proptech technology will keep disrupting the real estate industry as we know it, including searching, buying, selling, renting, and more.
Where do you see a need for innovation in your field?
Creating an automated tool that will first, presents investment bodies with the most appropriate tax and legal structures in accordance with their status and the type of investment they intend to engage in, second, will address all the technical/procedural requirements that need to be fulfilled around the chosen structure by the relevant law and tax authorities like documentation, etc'. In addition to initially creating structures to be used by the investment body, this tool can serve as a reference tool to examine suggested third-party structures. No doubt such a tool will reduce the significant time-consuming, money and effort, related to the process of analyzing and creating the right legal and tax structure. Pretty challenging but there you go.
From your point of view when startups are trying to get product-market fit - one mistake that entrepreneurs must avoid
To assume what customers want or need without asking them directly and carefully listen to what they say. Further, to believe you have a product-market fit just because you have few customers.
Based on your experience - one great tip for beginning entrepreneurs
First, understand your industry, then, find a niche and learn it to become the guru in that niche. Many startups succeed because they have identified a niche and have cornered that market. I believe that the Real Estate industry has many niches waiting to be explored and to enjoy innovative technology.