All Forum Posts by: Benjamin J Thompson

Gotcha. I'm doing a Vendor Audit on the above to hash out the differences and value's. I'll post the results here. 

For those that rely on traditional methods and personal experience, I can understand this perspective. It's probably taken you quite some time to develop a level of aptitude through experience, and it's most likely, well deserved. There are however, compelling reasons why AI can be valuable in this field. 

1. Data Analysis: AI can process copious amounts of data, including market trends, property values, neighborhood demographics and economic indicators. This can help make more informed decisions by identifying patterns and opportunities that may not be immediately apparent to some. 

2. Predictive Analytics: Historical data can expose future trends in value, rental demand, and market conditions. I purchased my first two multi-unit properties using data and they've doubled in value in 5 years simply because my metric was population growth and movement. 

3. Efficiency: AI tools can automate time-consuming tasks such as property searches, fiscal modeling and even property management. That's what I'm after. Time to focus on higher-level decision-making and strategy. 

4. Risk assessment and mitigation: Quick analysis of crime rates, school quality, economic stability and environmental risks. 

5. Personalization: Buy box customization and tailored investment strategies based on my individual goals, preferences, and risk tolerance. I'm a conservative investor. A bird in hand is worth two in the bush style. :-) 

In summary, AI is not a replacement for traditional methods, but rather a powerful tool to complement and enhance them. 

Is that across the board, or target market specific? EG; Fix and flips, Turnkey, Multi, etc? 

There is no question that investors not moving into Real Estate AI-Tools are going to be left behind in consideration of the availability of data, and how AI is using that data to analyze and prove value. I have 14 doors and one commercial space and am looking to choose an AI tool to take-away the apprehension of unknows and provide the data and answers that I need to make a data driven decision towards purchase. The manual entry of numbers has moved to an automated model with accurate ARV, Cap Rates, etc. Here are the current tools I have begun looking into.

1. Reonomy (Analyzing market conditions, and assessing property values) 

2. Zillow Offers (home owners, buyers and investors to estimate property values quickly) 

3. House Canary (Tailored for Real Estate professionals, investors and lenders needing property assessments and market forecasts) 

4. Rex (Real Estate agents and sellers to optimize listings, attract buyers and close deals efficiently) 

5. Enodo (Multi-Family investors, developers and asset managers) 

6. Mashvisor (Real estate investors looking for short term investments) 

7. Localize City (Homebuyers and investors who want a deeper understanding of neighborhood dynamics and potential risks) 

8. Skyline (Designed for institutional investors and asset managers focused on commercial portfolios). 

Is anyone currently using any of these? If so, what do you like about them and why? 

Ahhh, well, this is good information. I suppose I don't have a better answer for your question other than the fact that I'm uneducated on the subject, so I do appreciate the information. I'll start looking into the 506C and or B. Very helpful, thank you. 

I am looking into setting up a Real Estate Investment Trust for a small group of investors. Our strategy is to purchase multi-unit properties and hold long-term for rental income. I'm am contemplating the ideal legal structure for the formation of the company. Is there a specific/ideal template that is the most advantageous in consideration of tax advantages, etc.? I've seen videos that would put everything under an S. Corp, that creates LLC's for each entity (property) separately, that also puts everything under a Trust/Umbrella of sorts. I realize this is a complex topic, any subject matter on the topic would be greatly appreciated.

Great, I'll take a look. I'm starting a REIT, and we are gearing up to purchase more Multi's for long-term hold.

Gotcha. Thank Nic. Appreciate the advice. 

@Nicholas L., Appreciate that approach, however, i'm in Chicago. :-) I'm trying to strategize beyond "Backyard" investing, in the line of thinking that it could be a better option/strategy. I typically look at Multi-Unit rehab, and hold. That said, there are markets that are stronger, and less hassle of a tax burden, such as Indianapolis. 

What tools are popular go to's for comparing US Real Estate Markets in the interest of choosing multi-unit long-term holds towards building a Real-Estate Portfolio?