Three Ways to Use AI as a Real Estate Investor

While listening to a CEO of a large Non-Profit speak earlier this month, he went on to talk about three different kinds of people as it relates to new technology.

First, he spoke of the Protector. The person who wants to keep themselves, their families and their organizations as far from new technology as possible. A common phrase of a Protector would be something along the lines of “we have always done it this way”.

Second, came the Spectator. The Spectator does not write off new technology and finds it fascinating. However, they will likely not dive deep into these new waters and only on occasion, just to avoid being left behind by their peers.

Lastly, he spoke of the Champion. Winning may come to mind for many when they hear champion and that is well and fine. The real reason they are champions is that they are willing to work harder than most, practice longer hours and try things others are not willing to do. This person is a true Champion.

As the world turns to AI for more and more uses, I feel as though I have identified as all of the above over the last year. First I was skeptical. Second, I started using ChatGPT as a second Google on occasion. And finally fast forward to today, I would like to think I am an “AI Champion” but I am likely somewhere in between Spectator and Champion.

Either way, AI can be useful in a number of applications, let's look at a few ways we are currently using AI in Real Estate.

                          Three Ways to Use AI as a Real Estate Investor

AI Real Estate Tip #1 - Marketing

Unless you are a big corporation or just find yourself absolutely in love with marketing, AI should be your new best friend. Think of AI as your own personal assistant, it wont replace you just yet but it sure as hell is going to make your life easier. Let's look at an example with Chat GPT -

Me -

Search the web for the best Real Estate Listings ever written and copy their tone, style and pacing to write me a 250 word listing for a five unit commercial property for sale at 20 Washington St in Conway NH. Make sure to emphasize the local area, shopping and outdoor activities. Before you do this, ask me three questions that would be helpful to have answered before doing this. As soon as I answer, begin your work.

Before crafting the listing, I need to gather some specific details about the property to ensure the description is accurate and compelling. Could you please provide the following information:

1. Property Details: What is the square footage of the building and the lot? Are there any notable features or recent renovations?
   
   
2. Unit Composition: What types of units are included (e.g., retail, office, residential)? Are they currently occupied or vacant?
   
   
3. Financial Information: What is the asking price, and are there any existing income streams or potential for rental income?
   
   

Once I have this information, I'll proceed to write a 250-word real estate listing that captures the essence of the property and its surroundings.

ChatGPT -

Me -

1. 5642 Sq Ft, Major Renovations Include Four Fully Renovated Units (Floors, Appliances, Paint, Carpets, Heat Pumps, Etc) 2. Four Residential Apartments and a Salon whose on a 3 year NNN Lease 3. Asking Price is 799,000. Current Gross Rent is 103,000 and Expenses are 22,000 not including the mortgage

Prime Mixed-Use Investment in the Heart of Conway Village

Welcome to 20 Washington Street—an exceptional 5,642 sq ft mixed-use property nestled in the vibrant heart of Conway, NH. This fully renovated gem boasts four modern residential apartments and a thriving salon tenant secured on a 3-year NNN lease, offering both stability and growth potential.

Each residential unit has been meticulously updated with new flooring, appliances, paint, carpets, and energy-efficient heat pumps, ensuring comfort and appeal for tenants. The salon, benefiting from a triple net lease, provides a reliable income stream with minimal landlord responsibilities.

Situated amidst the charm of Conway Village, this property offers unparalleled access to local boutiques, eateries, and essential services. Outdoor enthusiasts will appreciate the proximity to the White Mountains, Saco River, and renowned ski resorts, making it a sought-after location year-round.

Investment Highlights:

• Asking Price: $799,000
  
  
• Gross Annual Rent: $103,000
  
  
• Annual Expenses: $22,000 (excluding mortgage)
  
  
• Cap Rate: Approximately 10%
  
  
• Fully renovated units with modern amenities
  
  
• Long-term commercial tenant with NNN lease
  
  

Whether you're an investor seeking a high-yield property or looking to expand your portfolio in a thriving community, 20 Washington Street presents a rare opportunity. Don't miss out on this turnkey investment in one of New Hampshire's most picturesque towns.

Schedule your private tour today and envision the possibilities!

ChatGPT -

I have found that unlike platforms like Google, ChatGPT and other similar AI Tools like it when you give them a ton of information up front.

Consider using the voice memo button and just talk. Explain exactly what you are looking for down to the exact detail before letting it begin its work.

AI Real Estate Tip #2 - Learning & Comprehension

There are so many mobile AI apps and AI desktop applications that can help you digest information nowadays. Many fields and careers have tools just for them. What I have yet to see is dedicated AI tools for Real Estate Investors.

Keep in mind, I am not someone who likes to read a lot of information. I prefer verbal communication above text, and audio books over reading any day. So, here are ways I use AI to help me digest information.

NoteBookLM - A google product designed to “help you understand things faster” has become my go to AI application. You can upload large files, source web links and youtube videos as well as copy and paste your own written notes into the tool as well.

From there, this beauty will capture the highlights for you and my favorite, convert it into a podcast. If you want to check out an example of the final product, check out our RealEstateLM Podcast at the end of the page. If you can't wait, click here!

ChatGPT - Upload Large Documents (keep sensitive info off for now) and ask ChatGPT to explain it to you in 1000 words or less. Still too complicated? Tell it to try again in simpler terms and to do it 600 words. Why not give it one final test and ask it to do it one final time, hit every major point it recognizes and do it in 200 words or less. You'll be surprised at what you can learn in a short period of time.

AI Real Estate Tip #3 - Market Analysis

Looking for a Realtor to run you a Market Analysis every time you spot an opportunity but don't want to waste their time? Great, AI can do it 24/7, 365 days a year. Here is how I prompted ChatGPT to help me gauge if now was the right time to sell one of our commercial properties.

Initial Prompt -

“I want a detailed post on "The Current State of Real Estate in New Hampshire". I want you to use sources online like National Association of Realtors, Zillow, Redfin, Realtor.com and more! Once you've broken down the trend in Real Estate among the following categories Single Family, Multi Family Residential and Commercial detail for the timeframe 01/01/2025 to today, you can turn it into PDF form and generate a cover image for the blog post.

Article #1
Second Prompt -

"Using the “Current State of Real Estate in NH” as a starting point, I would like you do do the same thing but in a much deeper dive specific to Conway, NH and Carroll County AND go way deeper into the Commercial Real Estate section”

Article #2

Technology, especially AI, continues to evolve and grow at a rapid pace. We will certainly be left behind if we don’t take on the roles of Champions. We must try new things, push past old habits, practice, fail and ultimately grow.

If you have any good tips or applications for AI use in Real Estate, consider emailing us at [email protected] and sharing your experiences.