In 1998, Rick Deyoe struck out on his own and founded his own real estate development company. With a degree in finance and a real estate focus from the University of Texas, experience in insurance giant AIG’s real estate department, and a tenure with a development company focused on multifamily and affordable housing, Rick knew the market, starting with how to create a good project all the way to knowing which governors, senators, and mayors need to be on board to get a project approved. So when he founded Realtex Development Corporation in Austin, Texas, he knew just what to do. He was also able to create a contract with a colleague that allowed him to avoid borrowing money and thus have the income he needed to grow Realtex into “the professional real estate development company with extensive experience and a unique approach to the real estate business.”
Today, Rick and Realtex have been ranked in The AHF Top 50 Affordable Housing Developers in the U.S. since 2007, with Rick, in particular, being among the premier developers. They’ve also been featured in Best in Business – Austin and have had multiple properties win their own awards for design and success. His knowledge and status have earned him invitations as a speaker across the nation at various events. Though they started small, Realtex soon found itself fielding three or four projects each year. After contracting out construction for a time, Rick founded Realtex Construction in 2004 to have better quality control over the projects. In 2006, he formed Realtex Housing Management, their own property management service. Since then, Realtex handles all aspects of development, from the initial stages to the finishing touches, as well as the daily management of the properties after completion, which are all handled by Realtex employees, all just as dedicated to quality service as Rick. “With affordable housing development, we have to own and manage it for 15 years,” Rick explains, “so we make sure it’s perfect.” And he knows how to make it perfect: Rick’s success with Realtex comes from the fact that he’s steeped in the Texas affordable housing market, and can plan projects himself rather than rely on consultants because he already knows the lay of the land so well. Everything is done in house, including meeting with government officials.
Over two decades later, Rick is still at the forefront of the company, today aided by his daughter, Tiffany, who serves as vice president of operations for Realtex and serves alongside Rick on the Texas Association of Affordable Housing Providers (TAAHP), of which Rick is a former member of the board of directors. Tiffany, who also owns her own company, TICO Development, formed in 2016, has been a part of the real estate development industry for over 14 years. Being a historically underutilized business (HUB), TICO focuses on using a combination of rigorous research and analysis, creative approaches to challenges, open communication and inclusiveness, and a steadfast commitment to do the right thing. These two very driven, business-minded individuals alongside a strong dependable team, allows TICO and Realtex to now work together on every project they do.
When he’s not working with Tiffany, Realtex, and TICO on new projects in Texas, Rick can be found enjoying the outdoors at his waterfront property or on his ranch in south Texas, where he spends time fishing and hunting with his kids and grandkids.
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