Business

Stratafolio entrepreneurs sell business; refocus, rebrand company

Stratafolio serves commercial real estate investors

Jeri Frank

Stratafolio
Jeri Frank Stratafolio

When Jeri Frank and Uriel Barillas formed Asset Rover in June 2014, they initially focused on small, residential real estate owners as customers of their asset management software business.

“As we went through the Iowa Startup Accelerator in Cedar Rapids in 2016, we learned through a lot more customer discovery that the product we were envisioning was a better fit for people with an asset value much larger than what we were originally planning,” Frank recalled.

“We kind of did a pivot and formed Stratafolio to focus on providing asset management financial analytics for people who own, manage and lease commercial, multi-family, industrial and retail real estate.

“We pull that information together to provide real-time performance indicators that help our customers become more efficient and improve their bottom line.”

The couple kept Asset Rover as a separate company, selling it in July 2018.

Frank said she and Barillas saw the need for a better asset management product after they started their own real estate investment business, U and J Properties LLC, in December 2013.

“When we got married, we began buying real estate, and we noticed all of the inefficiencies that we had in managing our properties,” Frank said.

“It was really important for us to manage our portfolio closely and like a business. We needed to understand which property was performing best and why so we could continue to recreate the good stuff.”

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Most of the time, Frank said, “real estate investors are using spread sheets to do this kind of work. This puts all their information together in the same place and allows them to spot inefficiencies and save money.”

Barillas and Frank have been putting Stratafolio in front of lenders for their feedback because they have the same customers.

“Lenders love what they are seeing because it means that their customers are organized and have a really good understanding of what their cash flow and operation looks like,” Frank said. “They know how they’re setting for the next couple of years with their entire portfolio or any single property.”

Frank was a director at Pearson when she and Barillas launched U and J Properties, which owns properties in Cedar Rapids, Marion and North Liberty.

Frank left Pearson in 2016 after 14 years with the British-owned education publishing and assessment service company.

Being an entrepreneur is about testing things, continuing to learn and making sure you don’t go down the deep hole that’s in front of you, Frank said.

“If you have gone into a hole, stop, reassess and get yourself back out of it,” she said.

Frank said she and Barillas enjoyed their experience going through the Iowa Startup Accelerator in 2016.

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“It connected us with mentors and advisers that we may not have had access to had we not gone through it,” she said. “Those advisers and mentors have been instrumental in our progress.”

Frank will be interviewed Wednesday by Eric Engelmann, executive director of NewBoCo, at 1 Million Cups as part of the entrepreneurial event’s Founder Fireside presentations.

Doors will open at 8 a.m. for the free event at the Geonetric Building, 415 12th Ave. SE, Cedar Rapids, and the presentations begin at 8:30.

For more details, go to https://www.1millioncups.com/icr

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