Turnover is appallingly and disturbingly high, especially in the company's private equity real estate arm. Peter Rex should be ashamed of his quick trigger firing tactics: within the past 9 months he has hired over a dozen mid/senior level employees within real estate and tech, and let go of all of them within 3 months (some in less than 2 weeks) without explanation, prior discussions, reviews or notice. One day to the next - all gone; no severance, no benefits, no mercy. He let go a top marketing professional (Rex ignored all of his advice and recommendations and refuses to pay for a serviceable web site), a first rate ex-Tesla operations professional, a leading crowdfunding exec, and a team of seasoned business development and capital raisers (who he undermined by not agreeing to meet with potential investors, and bizarrely going off the grid and incommunicado for weeks on end). He replaced them with junior level, low salary staffers who are forced to make hundreds of cold calls to small investors, to raise capital for the company's one deal that closed months ago without being fully capitalized. In other words, Rex closed a multifamily apartment deal without the necessary funds, and as a result is unable to pay for renovations to the property (why Rex wouldn't just write a check to cover the difference is baffling and represents a concerning sign for the financial health of the organization). In the 2010s, Peter Rex timed the real estate market perfectly, and bought 100+ assets at the right time, and sold nearly all of it at the right time. But his strategy to start acquiring again has gone terribly wrong because he refuses to bring in larger investors (because they want to have some decision rights and control in the deal, but he refuses to give up any decision rights because of his giant ego). So the organization is desperately cold calling retail investors (unsuccessfully). If you accept a job here, you will be given a very short leash, and will most likely be gone within 3 months. By the way, you can ignore their work remotely philosophy, if you're not based near Austin you won't last; they have fired every single non-Austin based employee (not counting the Resprop property management team, and a handful of Tampa area employees). The company has a WFH policy because they won't pay for office space.
