Building a $100 Million Multifamily Business: AI Weighs in

[Taylor L.]

Alex Hormozi recently released a video on the future of AI and its impact on business, which you can watch here. After I watched this video I decided to ask ChatGPT the keys to building a $100 Million multifamily real estate investing business (coincidentally I am writing a book on this topic)

ChatGPT's Answer:

There are several key factors that can contribute to the success of a multifamily real estate investing business:

1. Develop a strong business plan: This should include a clear vision for the company, as well as specific goals and strategies for achieving them.
2. Build a solid team: Surround yourself with knowledgeable and experienced professionals who can help you identify and acquire quality properties.
3. Focus on a specific market: It can be helpful to specialize in a particular type of property or geographic location, as this can allow you to build expertise and become a go-to source for investors in that area.
4. Invest in high-quality properties: Look for properties with strong potential for appreciation and cash flow, and be willing to put in the time and effort to make necessary improvements and updates.
5. Utilize effective marketing and networking: Network with other professionals in the industry and use marketing strategies such as social media and targeted advertising to attract potential investors and buyers.
6. Manage properties effectively: Proper property management is crucial for maximizing the value of your investment and ensuring the success of your business.
7. Continuously look for opportunities to grow: Stay up-to-date on market trends and actively seek out new investment opportunities to continually grow and expand your business.

This is a pretty good answer, and frankly it's amazing when you step back and consider that this service is brand new and 100% free.

AI is going to change real estate investing, along with every other industry. In Alex's video plays a customer service phone call between an AI calling to book an appointment and a human confirming that appointment. In the very near future, AI will be responsible for many customer service functions of your multifamily business. Why have a person manning the phone in your office, when an AI can do it better, 24/7, for much less money?

[Chris Seveney]

@Danny Liu

Agree

I look at chatgpt as a rough draft answer for stuff. You want an email, it can draft it, you want a business plan, it can draft it- but every person should be putting their own style into their writing or their plans - otherwise it’s no unique and you are just another typical fish in the sea