Andrea Kretchmer, Principal at Xenolith Partners LLC
''Builders Patch is easy, intuitive and useful. We use it to store our data, manage our deals, and share information seamlessly. The project management feature that allows us to track all our tasks and priorities with our team is a highlight.''
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Our projects are of different asset types. What asset types does Builders Patch cover?
The Builders Patch platform currently supports multifamily housing projects only. Our expertise is in affordable housing, and we have primarily built the platform for this asset type, but we can onboard all rental multifamily housing projects (mixed use and market rate included).
We have projects at different phases of progress. Can Builders Patch be used for all of them?
You can add any project at any phase. Our platform is primarily focused on helping you manage the pre-development and underwriting phases, but we have features for construction and asset management, too. Builders Patch is a platform that provides value through all phases of the project. You can track data, analytics and access information quickly. So regardless of what phase the projects are in, you can stay on the platform.
All of our data, such as the project proforma, are in Excel. Do we need to do data entry?
No need for any data entry, you can continue to use your own proforma. When you want to add a project to the platform, all you need to do is give it a name and upload your existing Excel model. We map all your data directly from your Excel models, it's part of our on-boarding service. Afterwards, you can choose to keep your Excel model automatically synced through our cloud platform, or manually re-upload the file when the numbers need to get updated. How do we do the mapping? You can read about it here.
How many users can be on the platform? What about people outside my company?
We don’t have a restriction on the number of users. All you need to do is send out an invite to people within your company and they can log in immediately. You can create and add users from outside your company (e.g. architect) to work with you on specific projects, as long as their emails are verifiable official emails (no personal emails ending in gmail.com etc.) It’s totally cost-free.
Most of our tasks are repetitive checklists across projects. Can we create reusable templates?
Yes, our task management system can function as a repeatable checklist. Let us know what checklists you commonly use, and we'll make sure they are ready for use the next time you log in. You can request the addition of new checklists at any time.
Some of our data is sensitive. Will everyone who’s invited see all our project data?
No, your data stays safe with you. When you invite people, you do that to collaborate on specific projects only, not all your projects. And you decide what information they get to see. By default, all sensitive information is visible and editable only one admin person within your company. You can then decide if you want to grant admin roles to others.
Who owns the data on the Builders Patch platform?
Any file or information you upload to the platform is your property. We don’t re-sell any of your data to third party buyers. In short, what belongs to you stays with you and is owned by you.
How do you encrypt your data?
We have robust data encryption where we encrypt all data at rest, including emails and calendar events, using 256-bit RSA encryption in storage and 256-bit SSL/TLS encryption in transit. Our database is hosted in a Virtual Private Cloud with Amazon Web Services (AWS). AWS follows top IT security standards, including SOC 3, PCI DSS Level 1, and MTCS Level 3.
Builders Patch is a cloud-based deal management tool for the pre-construction phase of multifamily housing. It allows developers and investors to connect to all stakeholders in a deal and it provides advanced analytics functions to help make smarter decisions.