AI and REI

AI and REI

New to Real Estate · Member since 2023 · 60 posts · 21 votes

Hey,

I'm curious about how people are using AI to create efficiencies in their REI businesses. Have you found it helpful? What are the pros and cons?

Thanks!

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SF Bay Area · Member since 2020 · 10 posts · 6 votes
2y

We are building a real estate AI platform that specializes in analyzing disclosure packets of hundreds of pages and generating concise single report of important findings.

See this reply in the discussion

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  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
    3y

     This should be good.

  • New to Real Estate · Member since 2023 · 60 posts · 21 votes
    3y
    Quote from @Joe Villeneuve:

     This should be good.

    I hope so. 
  • San Antonio, TX · Member since 2013 · 87 posts · 42 votes
    2y

    I can't find anything about people successfully using AI yet.  My thought is that the people that ARE using it for lead gen/outreach, automation etc. will keep the methods to themselves until the advantage of early adoption is done and that business segment is saturated, then they will sell courses to everybody else..

  • Investor · Minneapolis · Member since 2023 · 265 posts · 162 votes
    2y

    I do an AI for REI seminar and just discovered a new tool I'll likely test out soon. It's by a company called Stonefeather Marketing and automates audience building on FB. Grow your network in your sleep. We'll see how it goes. Looks super promising for those staying up late on FB a few nights a week.

    Another favorite I'll be using is gotolstoy dot com. Automated FAQ videos to cut down on repetitive conversations.  It won't close for you but should make you more efficient.

  • SF Bay Area · Member since 2020 · 10 posts · 6 votes
    2y

    We are building a real estate AI platform that specializes in analyzing disclosure packets of hundreds of pages and generating concise single report of important findings.

  • Investor · Minneapolis · Member since 2023 · 265 posts · 162 votes
    2y
    Quote from @Varinder Saini:

    We are building a real estate AI platform that specializes in analyzing disclosure packets of hundreds of pages and generating concise single report of important findings.


     Varinder - I'd be interested to learn more.

  • SF Bay Area · Member since 2020 · 10 posts · 6 votes
    2y
    Quote from @Theresa Holl:
    Quote from @Varinder Saini:

    We are building a real estate AI platform that specializes in analyzing disclosure packets of hundreds of pages and generating concise single report of important findings.


     Varinder - I'd be interested to learn more.

    Just saw your DM! 

  • Investor · Minneapolis · Member since 2023 · 265 posts · 162 votes
    2y

    AI tip 2: a friend of mine wrote an app (beta) for landlords to market themselves on a regular basis by soliciting reviews from tenants. So rather than just market suddenly for 60 days when a property opens up, you're developing your personal brand all the time. Rather than a tenant telling you over a text how great you are, they go on this app and tell the world.  So it's like a tech tool for marketing yourself that works constantly. 

    Shuk Rental Marketplace is the app.

  • Real Estate Agent · Northern California · Member since 2021 · 17 posts · 15 votes
    2y

    AI will revolutionize every industry. If people do not adopt it they will be left behind. The rate the intelligence is growing is out of this world. I believe in five years life will look differently.  There are several courses online, but before paying a dime it would be helpful to watch the several videos on YOUTUBE on giving prompts. You can be as creative as you can imagine. I view it as instant leverage.  

  • Investor · Minneapolis · Member since 2023 · 265 posts · 162 votes
    2y
    Quote from @John Ojo:

    AI will revolutionize every industry. If people do not adopt it they will be left behind. The rate the intelligence is growing is out of this world. I believe in five years life will look differently.  There are several courses online, but before paying a dime it would be helpful to watch the several videos on YOUTUBE on giving prompts. You can be as creative as you can imagine. I view it as instant leverage.  

    Prompt engineering is an art. Lots to study there.
  • san jose, CA · Member since 2024 · 12 posts · 4 votes
    2y
    Quote from @Lawrence Rutkowski:

    I can't find anything about people successfully using AI yet.  My thought is that the people that ARE using it for lead gen/outreach, automation etc. will keep the methods to themselves until the advantage of early adoption is done and that business segment is saturated, then they will sell courses to everybody else..


     A.I. in R.E. is not yet perfect. But makes a big impact. especially on missing a call. when i have a missed call A.I automatically replies like any human does. so leads won't go to waste. I'm using a software that runs on A.I. helps me capture organic leads, automation, my socials, A.i. follow up and has it's own crm. For the last 6 months I've closed 5 deals. and 2 of them are from the leads captured from the software. 

  • Member since 2021 · 28 posts · 10 votes
    2y

    I'm developing an AI-enabled analysis and lead generation tool for REI. I'd love some help additional set of eyes or insight on features and capabilities.

  • WestWorth Village, TX · Member since 2019 · 3 posts · 4 votes
    2y
    Quote from @Senen anthony Virocel:
    Quote from @Lawrence Rutkowski:

    I can't find anything about people successfully using AI yet.  My thought is that the people that ARE using it for lead gen/outreach, automation etc. will keep the methods to themselves until the advantage of early adoption is done and that business segment is saturated, then they will sell courses to everybody else..


     A.I. in R.E. is not yet perfect. But makes a big impact. especially on missing a call. when i have a missed call A.I automatically replies like any human does. so leads won't go to waste. I'm using a software that runs on A.I. helps me capture organic leads, automation, my socials, A.i. follow up and has it's own crm. For the last 6 months I've closed 5 deals. and 2 of them are from the leads captured from the software. 


     What is the software called?

  • Real Estate Agent · Pembroke Pines, FL · Member since 2024 · 39 posts · 20 votes
    2y

    I like the potential of AI to streamline our real estate investment processes. The advanced analytics and insights AI can provide are invaluable, offering us data-driven guidance and uncovering trends that might otherwise go unnoticed. It's important to remember that all the analytics in the world cannot replace the human touch. Data can only take us so far. Your expertise, experience, and intuition in real estate play a crucial role in making a good deal happen. The understanding you bring to each transaction, the ability to read between the lines, and the personal connections you forge are irreplaceable elements that complement the analytical power of AI. 

  • Investor · Bakersfield, CA · Member since 2013 · 146 posts · 93 votes
    1y

    We along with our clients use conversational AI for follow up as well as handling leads after hours and on weekends. It absolutely works and will become more and more used over time. I believe the biggest impact AI can make in our industry is in follow up reengagement.

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