Chris Gerardi of Realbricks
An exclusive Tech Tribune Q&A with Chris Gerardi (founder and CEO) of Realbricks, which was honored in our:
Tell us the origin story of Realbricks – what problem were you trying to solve and why?
Realbricks started from the idea that people are going to want to invest in real estate because of inflation and lack of trust in other asset classes. I knew that there was a desire for people to be able to not only invest when they don’t have lots of money, but also be able to liquidate with a click. I was on a mission to democratize real estate and offer a way to buy and sell these assets on a secondary market.
What was the biggest hurdle you encountered in your journey?
The biggest hurdle was getting investors to see the vision and raise money to build out the tech. The next huge hurdle was the immense amount of legal and regulation needed to be able to do this by the book. The red tape for this is extremely complicated and expensive. We have to follow all rules to protect the company and, most importantly, the users who invest in real estate assets. The next hurdle amongst many is the marketing. Because we are regulated, we have to scrutinize everything we put out. This is time consuming and costly. In all, looking back, my ignorance of this undertaking was most pronounced.
What does the future hold for Realbricks?
We will be going live shortly – we just waiting for our SEC qualification letter. We are building AI into our platform so we can select the best markets to buy property. We will be bringing the native app to the app store in Feb 2024.
What are your thoughts on the local tech startup scene in Wyoming?
I think WY will become a place for startups in the future. WY has less regulation, which helps startups. Too much regulation can stop and kill creativity, and unfortunately some states have far too much of it. However, we do need to have some so we don’t have more Enron and FTX blowups. It’s a fine balance for sure and is not the easiest thing to navigate.
What’s your best advice for aspiring entrepreneurs?
This is my third business and second start up. I can say my advice is to put both feet in and take it as far as possible. Have restraint when it comes to fear and worry – calculated risk is a must! Stay committed to the bitter end.