Real Estate Investing and AI
Happy Thanksgiving Everyone!
Interesting fact: I was creating our thanksgiving social media posts for all of our clients, friends and family and had this picture created by Dall-E the AI project. It's absolutely unbelievable the capabilities AI have accumulated in the past few years!
Which led me to deeper thoughts (yeah, I even went the Terminator/Skynet route...)
How do you see AI getting involved in real estate investing over the next few years?
#2 Commercial Real Estate Investing Contributor
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#2 Commercial Real Estate Investing Contributor
- Attorney
- Dallas, TX
Dynamic lease pricing would be the best. Real page type aggregator offering daily pricing would be great for us landlords.
Quote from @Ronald Rohde:
Dynamic lease pricing would be the best. Real page type aggregator offering daily pricing would be great for us landlords.
For which asset classes? Retail? industrial? Do we really need a daily update on those?
Content creation is the easiest lift for the new AI technologies. The ability to create posts, graphics, blogs, etc... quickly and with little training will help newer social media accounts gain traction.
I'd love to see custom mailers done based on asset type, location, amount of equity, owner type, etc... be automated based on lists created in something like PropStream.
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Quote from @Chris Watkins:
Content creation is the easiest lift for the new AI technologies. The ability to create posts, graphics, blogs, etc... quickly and with little training will help newer social media accounts gain traction.
I'd love to see custom mailers done based on asset type, location, amount of equity, owner type, etc... be automated based on lists created in something like PropStream.
As an investor/broker, I'd love to see that too! As an owner, I fear that day :-D
#2 Commercial Real Estate Investing Contributor
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- Dallas, TX
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#2 Commercial Real Estate Investing Contributor
- Attorney
- Dallas, TX
Quote from @Joseph Gozlan:Industrial or retail, I'm not needing a daily update. I want to create a price based on demand, that changes every day based on aggregate supply/demand. Real page does this for multi family
Quote from @Ronald Rohde:
Dynamic lease pricing would be the best. Real page type aggregator offering daily pricing would be great for us landlords.
For which asset classes? Retail? industrial? Do we really need a daily update on those?
Quote from @Ronald Rohde:
Quote from @Joseph Gozlan:Industrial or retail, I'm not needing a daily update. I want to create a price based on demand, that changes every day based on aggregate supply/demand. Real page does this for multi family
Quote from @Ronald Rohde:
Dynamic lease pricing would be the best. Real page type aggregator offering daily pricing would be great for us landlords.
For which asset classes? Retail? industrial? Do we really need a daily update on those?
I've used the Realpage product and it's great when you have multiple apartments for lease and have prospects coming in every day. It gives you a competitive relevance in a crowded market but I am not sure there's value in a "daily price" for retail/industrial because the velocity these assets move at is much slower. Maybe like a monthly update?
Either way, that's a good direction but that's not really AI, this is just data driven processes.
I was hoping to see some creative ideas like "AI leasing agents" or "using AI to optimize electricity consumption and HVAC operations in an office building"