AI and REI

[Austin Bull]

As a new real estate investor, how is AI going to change the landscape of this industry?

Also, what niche jobs in real estate (Agents, appraisers, house inspectors, lendors, ect.) are going to be replaced eventually? And what jobs cannot be replaced?

[Austin Bull]

Quote from @Mason Liu:

Quote from @Austin Bull:

@Mason Liu

I'm glad about that. I think REI business will have to learn to use it like they did social media a few years ago.

Do you think that Investors should learn to use it? I feel like AI analyzing deals will start to be huge..

 I think so. Even something as simple as utilizing ChatGPT to speed up certain processes such as asking for generalized information on a market's demographics and immigration patterns can be useful and save a lot of time. You could put in a range of numbers for purchase price and closing costs, renovation expenses, and expected returns and you could very quickly get a range of projected return on investments (although an excel spreadsheet could easily do this as well), but I'm sure as technology develops we will see even more sophistication in AI's ability to assist in deal analyzing.

I agree. One thing that won't change though is person-to-person relationships. Like if you find an off market deal from someone who knows you and trusts you.