BiggerPockets Real Estate Podcast - 811: 3 Real Estate Tools That'll Save You DOZENS of Hours

Episode Date: August 29, 2023

These three real estate investing tools can make you more money in less time and with less effort than ever. Just ask Mark Simpson from Boostly; he used just one of these tools to bring in over six figures in sales, save dozens of hours a week, and reach thousands of prospects instantly. But, as a small investor, will these tools help you build wealth faster? The answer is a resounding YES!  In this episode, we’re going over three types of real estate investing tools that have helped us scale our portfolios and businesses to new heights. And whether you own a rental portfolio, have a few properties, are still looking to buy your first, or run an entire real estate business, these tools can help ANYONE with ANY skill set, no matter what you do or how long you’ve been doing it.  From automatically personalized video messages for prospects to a tool that will design your house for you and automations that make your team faster, many of these tools are free or cost FAR less than traditional methods. Now you can reach out to sellers, redesign a rental, and have tasks automatically assigned at the SAME time while you focus on building your business. In This Episode We Cover How AI (artificial intelligence) is changing the way real estate investors do deals How Mark from Boostly made six figures by sending this “personalized” video to prospects  The “scraper” tool that can save you dozens of hours by automatically grabbing property information  Remodeling and redesigning a rental in MINUTES (even if you have ZERO experience) What to do when/if AI takes over and how to set yourself apart from the “lazy” investors  And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area Dave's BiggerPockets Profile Dave's Instagram Rob's BiggerPockets Profile Rob's Instagram Rob's TikTok Rob's Twitter Rob's YouTube Catch Mark at BPCon 2023 Hear Mark’s Past Episode on Direct Bookings Brivity Cody REImagineHome Remodeled.ai Tavus BiggerPockets Podcast with Alex Hormozi Jesse Vasquez on Airbnb  Robuilt on ChatGPT Connect with Mark: Boostly Website Email for Prompt List   Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-811 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [e-mail]. Learn more about your ad choices. Visit megaphone.fm/adchoices

This is the Bigger Pockets podcast show 8-1-1. So when everybody zigs, you zag. And so when the world does become a copy and paste, everybody's doing SMS, everybody's doing email. When everybody is just relying on automation, what can you zag instead of where everybody's zinging? What's going on, everyone is David Green, your host of the Bigger Pockets Real Estate podcast here today with my co-host, Rob Abbas solo, who will actually be taking over the reins and hosting today's show. Or is it Rob? It might be a deep fake that we're throwing at you. Listen to the show and let us know in the comments if you think this was real Rob or AI Rob.

Today's show is all about artificial intelligence, how it can hurt your real estate business, how it can help your real estate business, how it can make you money or lose you money, all that and more. And we've brought in some help. We're joined by Mark Simpson of Boosley, who shares his thoughts on how he's using AI to help his business and give customers a better experience. And Rob actually says a few intelligent things in today's episode as well. Rob, you're more than just a pretty face who's losing a lot of weight, getting tan and putting on muscle. How are you today? I am doing good, David. Thank you for asking. I am doing swell. I'm going to Las Vegas tomorrow and I'm excited because I'm going to go see Adele, the real version. Which Dell are you going to see? The first one. Okay. The first and only. I'm going to look at Adele computer. been taking this person. Is this the farmer in the Dell? What is the Dell that the farmer goes to? Do you know what that is? Let us know that in comments as well. If anyone knows what the Dell is that the farmer is using. Rob, in today's show, what should people keep an eye out for that will help them in their business or maybe help them avoid potential pitfalls that could cost them money in their business?

So I think we're talking about a few AI tools here and a few other tools that would help you optimize your business, but giving you actual practical use cases for your business, whether it be real estate or anything else. But specifically, I think that today's message is we're not here to replace ourselves. We're not here to replace our employees. We're not time to take jobs or cut our team. We are trying to enhance ourselves to be the most efficient and optimal version of our business selves so that hopefully our business can make more money.

That's the name of the game. Before we get to the show, our quick tip is if you want to grow your business, consider getting a CRM. The idea is you need to manage your customers and your client. and the people that you want to do business with so that you can be organized and systematic in the way that you stay in touch with them if you've been trying to keep it all in your head or on Excel spreadsheet, stop, look into getting a CRM and become a professional in the real estate space, not an amateur.

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David? So if you two are skeptical about AI, you are not alone. In fact, I'll go so far as to say people are already abusing AI. I get tons of messages in my Instagram account every single day from people that are wanting to use artificial intelligence to edit my videos and charge me for it. I will reach out to people asking for something and I'm clearly talking with a chat robot that I don't want to be talking to that's stalling for time. Companies are bragging about artificial intelligence, putting them on the cutting edge,

but we're talking about technology that doesn't work very well. And it's replacing the human element. I mean, if you think about when you go stay at an Airbnb or at even a hotel, if there's nobody to check you in, we'll frequently brag about AI has gotten us out of the business, but we never think about it from the perspective of the client. That's a thing that I just want everyone to keep in mind. When you're looking at a new form of technology or a business opportunity, it is very easy to look at how it will benefit you.

But as a business owner, we build our business on the foundation of the client. Rob frequently talks about adding amenities to short-term rentals to give a better experience to the client. You're trying to design a house so that the client would be happy with it. Well, if the client isn't happy when they're trying to check in and there's no one they can talk to, they're probably going to leave you a bad review and it's going to cost money. And AI is not going to smooth out an angry person like a human being could that can give empathy and share concern. And not to make this personal, but I was hanging out with Brandon Turner, who was bragging about how much he loves chat GPT. And he asked chat GPT what type of animal I would be.

And it said, an owl. And I wasn't super thrilled about that. I was looking for a lion, possibly a grizzly bear, something a little more majestic like a griffin. I just wasn't happy about being called an owl. And I can admit that that might have colored me a little irritated with chat GPT. Well, thank you for that Black Mirror episode, David. I'd tell you to pitch it to Netflix, but a bot probably already has. Mark Simpson from Boosie, how you doing, man?

After hearing DG out, is there anything that you'd like to say as a rebuttal? Well, hello. Thank you for having me back. It's an absolute pleasure. But yeah, I am coming into this episode as somebody who is a massive fan of AI. And I'm excited to share a few things. But in terms of a rebuttal, I would say this is that, number one, when it comes to people stopping using their brains.

We are programmed as humans to only make certain amount of decisions a day. And I've been doing everything in my day to day to try and cut down on how many decisions I need to be making. And if we can have a tool that can help us with said decisions, whether it is, what are you going to order for your groceries, what are you going to watch tonight, or if it's something more business related in terms of organizing your to do list, et cetera, I am all for that. And I actually think that it's not going to stop us as humans.

wanting to talk to other humans. If anything, I feel like what's going to happen on, on with all of this is it's going to encourage and help us relate more to more people, meet more people, do more things and become better because of it. And I will end with this is that the cream always rises to the top. I think this tool and AI is going to eliminate 90% of fiber. It's going to eliminate 90% of upwork. But there's a lot of crap on up with. There's a lot of people who are crap at what they do. But the cream will always rise to the top. So what will, happen is the best people in their field will rise to the top and they will be the ones who can command more money. They'll get more gigs and that'll be the offset of this. I think that there's

nothing but positives to come from it. But I do agree with David on one thing is that we can't just come to a world of copying pace. We can't just blindly go down this road. AI will get us 80% of the way there and we have to use 20% of our own intermission, creativity, brain source to get us to the full 100%. So I'm excited to dig into a few things today. Yeah, I mean, today we're going to talk about actual tools out there that can help you with your real estate business. And we're going to get into things like relationship management, design, remodeling, operations. There are also a ton of tools out there that we won't cover today. So if there's a particular part of the deal flow you're struggling with, whether it be deal analysis or comping in general, etc.

We'll list some of those tools in the show notes for you. Or you can just ask Mark Simpson what he would use because he is the AI expert here. And then just a quick side note here, BP does not officially endorse any of these products. are all just anecdotal things that we have used in the past that we like. And there's a huge landscape, hundreds of different tools out there. We're just talking about some of the ones that we've come across in our journeys. So let's get into it. Let's get into it. Let's start with Mark, your first step. And basically, we want to know what is your favorite AI tool that you're using right now to optimize to make your business more efficient, run more smoothly. So my tool is Tavis.

And I'll have to spell it for you because my British accent. So it's T-A-V-U-S.io. And And Tavis is a marketing lead gen sales tool that everybody can go ahead and use right now. The main way that I use it in the business is I record a video right now to the camera. And it takes me 10 minutes to record that video. That 10 minute video, I can then send out to 2,000 people, 10,000 people in literally one minute. And the way that it works is that as I'm talking into the camera, AI is looking at my facial expressions. It's following my mouth. It's looking at my movements.

And what I do on the other end is once I've finished that video, I will upload a list of contacts that I want to reach out to. And all I have to do is insert tags. Just like when you're sending an email to somebody, if you're going to do a big blast for your CRM, you replace first name. And for example, say I'm going to send a message to Rob and to David, I just have to do in one video, that video pitch,

and it will be two minutes, three minutes, and I could talk about anything. For Boothley, obviously I'm promoting, what we do here at Boosley when it comes to direct bookings. But if you've got your real estate hat on and say you want to get in front of a load of realtors, estate agents, etc, you can use it for that. So you record one video. It'll take 10 minutes to learn you. That video is a maximum of two minutes of your time. And I can then bless that out to thousands upon thousands of people with no extra effort on my end. Okay. And what's the time that it took to integrate? What was the

learning curve for using this tool? Learning time. The main thing that I had to learn personally was how to speak into a camera and read a script because that's the main thing. Harder than it looks. Harder than it looks. It's not a one-stop shot. But as soon as you figured that out, the tool does everything for you. So as far as what I had to implement, I just had to record the video, create the script, create the script, record the video, send it off to Tavis.

They did all their things. And then I just had to integrate the link that they gave me into my CRM. So for example, I use active campaign for sending out emails. I use close.com to send out SMSes. I just have to take that link and put it in. And it took me in maybe a couple of days to get used to. So all in all, let's just say a week to get it all turned around. But now it is all automated.

Okay. So it's all in the business. And what were the results from using this? So we pay $275 a month to use this service. So let's just call free grand over a course of a year. And the ROI has been well over six figures in revenue coming in on the back of it from what we were doing before. Obviously, the caveat is that video has to be good. You can't just be spouting out nonsense for two minutes. It's got to be a good video, well put together, etc.

But we've been able to fine tune it, create it, and it has been generating some really good results from us personally. And I can see not just how I use it with my Boosley hat on, but I can see how a host could use it, whether it's SDR, MTR strategy, even real estate investors, et cetera, going for like some big deals, et cetera. So it's very, very powerful tool. And I encourage everybody to check it out. And would you say that this tool is more for a newbie, for someone that's kind of an intermediate, like right in the throes of their business or like the advanced, I guess, technologically savvy investor? I would say a newbie, anybody can use this. It's more budget. Can you put together $300 a month to use this? If you can't stretch that far,

then obviously it's not for you. Try something else. You'd have to, you know, eat glass for a little while and do it manually yourself. But as soon as you've got that extra revenue in your business, It doesn't matter what level you feel that you are at technically or mindset-wise. You can easily do this. All you have to do is have a camera. You can even have your webcam if you want and just record a video and just talk. As long as you can talk, you can do this tool. All right.

So do you see a use case in your business for this? It sounds like yes, but is there any reason why you would still have a human do this work? Even if, let's say you don't want to do it anymore, right? You're running the company. Would it ever make sense to just hire someone to kind of run with this aspect of like the support, the legion and everything like that? that. Well, for me, we've got 44 members of staff at Boosley. And I would never put somebody on this task particularly because I'm all for utilizing AI to free up their time. And there's

much more important tasks I personally feel like my team can be doing and doing this. Because again, if they're going to record a video every single time somebody comes through to Boosley, like, they'll be full up all day and they'll get bored doing it. And they'll still come to me and say, Mark, I don't want to record this video for the $1,000 time. We stop doing it. So for me, I would never put a human onto this task. I'd much rather be doing something more proactive with their time. So I'd much rather have an AI doobus tool. Yeah. Yeah. I think there's a lot of interesting use cases here. I see it from the standpoint of like, let's say a real estate meetup. If I throw a real estate meet up and I go through the trouble of creating, let's say, an event bright in capturing

all the emails of the people that register to go to my meetup, I could in theory create a video that gets sent out to each person via text or via email that's like, hey, Mark, it was so great meeting and connecting with you at the at the meetup don't forget i'm looking for a lead in this buy box for this type of investment please keep me in mind anytime that you're looking you know you're looking to offload a deal or something like that and basically it allows me to reach what you based on what you're saying a mass amount of people now from the AI standpoint is it basically that they're capturing like my vocal sounds and tonalities yeah so in that 10 minutes that you're training the tool you're literally reading a script that they're

provided for for me. And what they're doing in those 10 minutes is that they're seeing how my face moves when I talk, the accent and the words, you know, how I speak. The diction. Yeah. The diction all of that. It's taken all of it and is training it all up. So when I record the, the actual script for the video, for the one minute video, just the example that you say there, when I go to say, so for example, send me saying,

hey, Rob, I'll just say, hey, first name, right? And when the video is being put together on the script that we create, I insert the tags, just like you would do on an email blast out, you'll go, hey, David, hey, Rob, okay? And it makes it that look, that email looks personal. But instead of it being an email, it's literally in a video. And it's getting all of that information from the data that you put into that list. So basically, you upload a list, sync it with your CRM, wherever you get the information from, however you acquire that information, you load it in and Tavis takes all of that and matches it

all together and spits out a quality video. Okay, that's cool. So, David, you run a really large real estate team. Are you convinced? Is this a tool that you would possibly encourage the team to use to create these mass videos to send out as follow-ups to all of your client base? In a situation like this, yeah. In fact, I used to do this when I would hold open houses before I was hosting the podcast.

I was just an average realtor trying to make a dollar out of 15 cents. And I would go hold open houses every weekend. I'd do like three or four in a weekend. And then I would do exactly what Mark said. I would send a video of me saying, hey, it was so nice meeting you at the open house. This is a reminder what we talked about. I'll be reaching out somewhere else because everyone's used to just brushing off realtors. They're annoying.

But when you get a video, it's so tempting. You just really want to touch that button and you want to see what might be in there. I'm curious though, Mark, how is what you're describing, How would it play out practically different than if I just recorded a video and sent it to somebody? Well, this, if you're going to do it on a singular level, do it on a singular level. This is to be acquired at scale. And, you know, I assume now in the levels of your careers that you both had, you've got a lot more leads, etc. coming into your inbox on a day-to-day basis.

So this is to be acquired at scale. If you've just got five videos to send, say you've done an open house and there's five people, just send five videos. But this is something that you can definitely do for 100, 200, 300, 300. A thousand, 10,000. Yeah, I like that because if it's not replacing something a human did, it's not like, well, I don't want to have to do work. So let me use AI.

That's usually where I get anti-artificial intelligence. If it is enhancing something that a person would already do, that's a different story. Yeah. I mean, one of the things that Alex Hormosey talked about in our recent episode with them is that one of the biggest weaknesses basically in any business is the follow-up. And so really seems like this tool can come. in handy for that. One quick question and then we'll move on. Does it ever, does it have any shortcomings such as like, is it ever like, hello, Mark? And it like kind of sounds computery whenever it's

trying to read things like names and then goes back to sort of like the AI generated sound or is it pretty seamless? It's pretty spot on. The one time it's had it shortcoming is when somebody signed up to get something from us and they put their name in as Seymour Butts. Yeah. And so the I literally sent him a video saying, hey, see more butts, da-da-da-da-da, you know, it went on that one. Yeah, so you talked about like lead gen at the beginning of this. What is an aspect where you could use this for lead gen? Can you give us some like actual practical use cases there?

So for in terms of actual lead gen, let's just say, for example. And that's lead generation. That's short for lead generation. Right, right. So I just, I want to clarify for any listeners because not everyone may be up to up to speed on marketing. although that one's pretty straightforward, but this is basically the idea of creating leads for your business, right? Yeah, 100%. So I'll show you how I used it for our business and then I can

give an example of somebody else could use it for their business. Let's talk like an MTR strategy, right? So for what we did, we were able to find a lot of property owners, host, hospitality hosts, who are situated in an area of the United Kingdom, Manchester. What we did is we then went along and we found their websites and on their websites were able to get their email address, first name, phone number. What we then did is we basically put that into a Google sheet. We uploaded it to Tavis. I created one of my super quick one minute videos. It was just basically saying, hey, Rob, hope you doing well. Just let you know that we're a business here that's helping Darry bookings, yad, yad, yada, one minute, sent it out. We sent it to that list. And on the back of that, I think we found

about 100 that we were able to scrape together. On the back of that, we had 10 people get back in touch of us and they then booked a call and went from there. So in terms of Legion, instead of me just getting those bits together, blasting out a list, we're able to use it to then made our outreach a lot more stronger. So that's pretty interesting. So David, I wonder if that would work in the off market side of things if you are sending text messages out to owners of distressed property saying like, hey, Mark, I see that you own 111 Main Street. And I wanted to just see, are you interested in selling this property, me and my team buy homes cash or something like that, right? You could then effectively pull lists from like, I guess, I don't know, privy batch seats, wherever you can like

skip trace and effectively blast out to people if you're looking for like an off market deal. Is that a use case that, I don't know, would make sense, David, you think? Since we started recording this podcast approximately 22 minutes ago, I've received three text messages like you just said, asking me if I want to sell one of my properties, which is annoying A.F. As the kids would say. So I don't know if I'm a huge fan of the blast, the text to everybody thing. That's like, I see how it's effective. And some people, it's working. Otherwise, people wouldn't do it. But it's also a bit intrusive. Like, someone's phone is kind of sacred in a way. Like, they, usually you give your number out to somebody and say, hey, like, you are allowed to contact me. So I get kind of

weird when you get into intruding into that, that world, right? But if you have a list of people, people that have already said, hey, I'm interested in learning from you, Rob Bilt, or I'm interested in learning from you, Mr. Boosley or David Green 24. I think that that's a great idea. Like, this makes it easier to communicate with the database of people, kind of your pool that you've already put together. Yeah, no, that's very true. I mean, I don't really mass market in that capacity, but it does seem like, I do wonder if it would be less annoying if you got a video that was instead of getting a text that's like, hey, David Green, I'll buy your house cash. If it was like a video from someone and it kind of makes them more human.

But, I mean, either way, that method, I can totally see why it's annoying. Maybe people can use it to create videos and send you on Instagram and ask you to edit your podcast down for TikTok. They use AI to message me on Instagram to ask me if they can edit videos, which they will then be using AI to do, which is zero time for them. That right there, Rob, is why I have my bias towards AI. It's all these 21-year-olds messaging me that they'll edit my short four videos, but they're using AI to do it so they're not working.

Hey, David, I have a couple of ideas for how to go viral. Are you open to a chat? Would you be totally against chatting? You open to a conversation about how we could add seven figures to your business with no work every month? On your at all. Yeah. Yeah.

Oh, yeah. It is the, that's 2023 for you in Instagram. Well, before we move on, Mark, is there anything else that you've used in your company that may get like an honorable mention here? We've used one more tool. And this is a tool that we actually created within Boosley. So as we were putting together, necksleaps.com, we, which is obviously Rob's business, we needed to get together all of the property information.

And a big time suck in our business was getting the property information from, say, an Airbnb listing and taking it over to our world, which is a Boosley WordPress website. And what we did is what one thing that chat GPT and this AI is fantastic for is creating code, perfecting code. And we worked with a programmer who utilized AI to put together a tool that could, and we called it the Boosley scraper, where we could scrape all of the information that was on your Airbnb listing, which was your pictures, availability, wording, all that cool stuff. And we could drag it in with a click of a button to our Boosley website. all and all this saved 12 hours of time manually doing it and we could do it in the space of a couple of minutes once we've created the actual tool. Yeah, yeah, that's good.

I was surprised. I was like, wow, this looks exactly. This is like all my information. How did he get it so fast? Did they just copy and paste everything? That must have taken hours. Yeah, it was all done in the case of a minute. And so now we've rolled it out to all of our sites.

And this tool now is called the Boostley Scraper and it's built into every single one that we do. So I think this tool is available for all. And it's the cool thing is you don't need. need to be a master programmer to be able to use this tool. We're able to create code just by asking it to do things. And it doesn't matter whether you're using chat GPT or Bard, which is the Google version or Claude, which is a new one that's coming out. They're all help you get there. And this is the thing for me is that it helps you get to where you need to be. It's like having the best intern in the world available 24-7, doesn't sleep, doesn't complain. And we've been able

to take that into into Boosley and with what we're doing. Yeah, that's super interesting. Well, awesome. Yeah. Thank you for all your work on Neek Sleeps, man. Looks really great. Excited to launch that. Let's move into pitch number two, which is going to be me. To be frank, Rob, your accent doesn't sound nearly as cool or trusting as Marks. As a side note, as soon as Mark started talking, I'm like, if I have to debate him, I'm going to lose because his accent just sounds so trustworthy. Like everything sounds smarter when it's coming from a Brit. So rather than ask you each question, I'm going to have you pitch me on how, you see AI playing a role in your business? Sure. So there's a couple of areas that I think I'm starting to utilize it more and more in my business, but right now the area that I am trying to cover at a bit

more of a quicker rate is design. And I'm not trying to outsource it completely, right? I'm just trying to use it to get ideas to generate my creativity, but I'm not completely relying on AI. So, but at the end of the day, with the amount of flips that we're doing, with the amount of remodels, with the amount of Airbnbs that we're setting up. Quick design is really needed so that we can start just running with our ideas. So the tool that I've come across is one that I call, well, I don't call it. So the tool that I've come across is called Reimagined Home. I think it's like Reimaginedhome.ai.

And there's also another one called like remodeled AI. They both do very similar thing. And effectively what you can do with Reimagined Home is you can actually upload a photo of the exterior of your home or the backyard of your home. and you can give it parameters of what you're looking to do. So if you want to re-landscape the front yard because it's all dead sod, this is something that's happening right now with one of my flips, I don't really, I'm not a landscaper.

This is not something I'm good at designing. I'm able to do it, but it's just not my strength, right? So I can upload this photo and basically give it parameters like, I want a native landscape, I want 20% sod, I want concrete pavers, I want black gravel, and you can give it some of these guardrails, and it'll basically spit out within seconds, like an entire, like, I guess, photo or AI generated photo of a brand new front yard superimposed on the photo that you

uploaded. And it's actually pretty cool because if you're trying to get a quote from a landscaper, you know, as you know when you're talking to contractors, a lot of things can be lost when you're trying to describe a concept without any visuals. So what I like about this is it allows me to get an idea on paper that I can then hand to a landscaper and say, hey, can you give me a quote? on exactly what you see here versus can you give me a quote on exactly what you think I'm asking you to get me a quote on. So it cuts out a lot of the back and forth. But it also does this for

interiors too. This is what I really like about it. If you want to understand what your space could possibly look like, you can upload a photo of a living room. You can upload a photo of a game room, of a bedroom. And you can also put like the different styles. Do you want a bohemian chic style? Do you want a mid-century modern style? Basically click a button and it'll completely furnish it with that style of furniture. And there's even some design things that you can do with the actual structural components as well. So again, I'm not using it exactly to furnish my places,

but it is a really good way to get, you know, really quick comps of what your property will look at so that you can start saying, hey, I don't like that. Let's swap it out for this. And communicate clearly with someone else who's going to be put, like, this is what I wanted to look like. Go.

Yeah, I can basically hand that to a designer and say, hey, I really like this mood board. I'm not trying to replace you with AI. I just try to bring something to the table. Can you make a better version of this, right? Because ultimately, it's not like that designer can go and buy that furniture because it's all AI generated, right? So they have to go and make selections based on the mood board that I give them. So honestly, the time that it took to integrate five minutes.

And the cool thing is when you generate that image, if you don't like it, you just hit next and it'll generate another one and another one and another one and it's limitless opportunities. And you just have to be good at prompting it and making your criteria more specific. Learning curve, I don't know. I think if you mess around with it for like 30 minutes, you'll pretty much be as good as you can be at that program or that platform. And from a result standpoint, I'm just glad I don't have to sketch really bad stick figures on like paper anymore. I can just actually hand something that actually looks professionally designed. I think you said some really important, I think for everybody to take away from this. It's the quality of the prompt, which is the quality of the command that you are asking said robot to do. That's so key.

The problem is, is that majority of people that test this technology for the first time, they put in a prompt or a question or a command that's like one sentence, which is crap. It's nothing. It's like, imagine having a worker in front of you, a member of your staff, and you say, design me this based on this. And it's like, they'll look at you like, okay, and I'll come back with a stick figure, like what you're talking about. But if you can properly give it a really cool command with plenty of detail, don't forget to say, please and thank you.

Because when they eventually do take over the world, they'll come back to your sake. You want to remember you. Yeah, we'll remember you. And then the better the command, the better the prompt, the better what you get back. And I mean, that's really, really, really crucial in everything that you're sort of going to go away and do after watching this episode. For sure, man. I did a YouTube video on how I used chat GPT to write my Airbnb listening copy. And I use it to write my copy.

I use it to write my title. But, you know, it was super fast, right? It can spit it out in seconds. But I spent a solid hour tinkering around, right? Like, say this. Like, make it more casual. Make it funnier. Punch it up.

it's such a process with AI. I think that's really the big, that's the big skill right now, is not just using AI to replace yourself, but it's like how well can you prompt it to basically do what you would do if you had the ability to do it as fast as AI could do? That makes sense? Yeah, it's funny because you're describing that if you want to use AI, you actually have to build the skill in using AI, which is what everyone is excited, like, oh, AI is going to do things so I don't have to be skilled at using it, but it might even worse.

You might be like, no, the people that are good at using I are going to destroy all the people that are not going to using it. Pretty much. That's kind of how I feel. Not quite as dramatic yet, but I do think effectively we're all going to be puppet masters of AI. That's where I think it becomes a thing in the real estate world is we're not replacing ourselves. We are just puppeteers, if you will, of all these different AI things that make our business

more efficient. That's how I feel. Sounds like an Avengers movie. It does sound a lot like Ultron, actually. Yeah, Ultron. Yeah. If James Spader did the voice of chat GPT, people would freak out. All right, before we move on, Rob, tell me briefly, who is this for?

Well, keep in mind that people who like to design are always going to design, right? So we're not trying to replace the designers. But I would say, I'm not going to say the majority, but there's a large part of real estate investors that know nothing about design, know nothing about landscape design, know nothing about remodeling the actual, like the design portion of remodeling a home. And so this tool is for them. And I think it's whether you're a newbie or an intermediate or advanced, it can be useful for you.

But this really, for a lot of people that are scared to get into rehabbing because they don't know how to design or there are a lot of people that are scared to get into short-term rentals because they're like, I don't know how to design. This tool is something that will help you do that so that you can at least communicate with someone that can actually execute on that side of things. I think an advanced person, you know, I consider myself someone on that end of the spectrum. I'm still using it, right? because instead of me sketching a horrible drawing that I know is not good,

I can give it to a contractor and have them quote exactly what they see. And I wouldn't really say that there's any shortcomings or surprises of the tool other than it can spit out some pretty luxury premium simulations, if you will. And so a lot of times I'll be like putting stuff in there. I'm like, oh, that is way too nice for the budget that I have. I didn't know you could say those words. Yeah, well, you know, you got to be scrappy every so often. For decades, real estate has been a cornerstone of the world's largest portfolios.

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is on the list this year, start with Avail. Sign up for free at Avail.co slash bigger pockets. That's AVAI-L-C-O-Slar Bigger Pockets. But yeah, I'd like to hear from the skeptic himself about some ideas on how to use AI for real estate. David Green, David, Timothy Green. I'm just kidding. I don't know what your nickname is or your middle name. But, all right, do you have a business area that you can cover in terms of like a use case where you could see AI helping? Why was Timothy so funny? I think I was watching an episode of the office where they called Jim Jimithy, which was so stupid but funny at the same time that might be what's in my head. Technical Timothy, as one would say.

Maybe that's where my mental name comes from. All right. So the question was, how do I see AI working out in operations? This is something that I think would be very useful. And I'm not as disparaging of it within the context of follow up for operations. I don't love it in sales. I don't love AI replacing me talking to a human and solving their problems. I don't want to call and ask someone a question and get put on a phone tree.

I don't want to chat with a robot when I could have a human being there. I don't mind as much if AI is doing the work that the client never actually sees. Organizing schedules, right? Like I could see logistically speaking hotels could use AI. So when somebody calls in sick, AI automatically figures out, like let's send a text message out to the employees, see who could work it, slot them in, have them check something to say, yes, I'm agreeing to work. And now you don't need management to do it. I think that can be smart.

So I'd like to see this take place within CRMs. These are the database managers, I believe it stands for customer relationship manager, that most businesses use to organize their activities. So this would be for my real estate business, all the people that I've ever closed the house with, all the people that I've met at an open house, I collect their information, it goes into a database, and then I can reach out to them, I can be reminded to talk to them. I can store information about the last time we spoke. And when I put them into contract on a home, we have what we call auto plans. We use a CRM called brivity. And that reminds the agent or the

transaction coordinator or the showing assistant or whoever it is that needs to know the task, hey, you need to do something. So I'll create when we take a listing. If Rob comes to me and says, hey, David, can you help me sell this giant potato house that I bought in Idaho? It's done really well as an Airbnb, but it's time for you to move it on to somebody else. And we're going to sell that house. for him. I don't want to have to tell an employee every day exactly what to do, and I don't want to trust that employee to remember what they're supposed to do. So I create a list of every single thing that goes into selling a house. Like there's 25 steps to get the house ready for market. There's 20 steps once we put it in the MLS, and then there's maybe 30 steps once the house closes that

we don't forget anything by. Well, not all those steps are done by the same person. So the CRM will automatically shoot out to each person on the team. Hey, of these 20 steps, these four are yours. And when this person does their job and they click it done, then the next person gets a reminder that says, hey, you should do this. I can see AI stepping into that world and enhancing that experience so that your employees can't screw it up. AI can know, well, usually at this point when this thing gets done, somebody should have done this by now. And they can send a reminder that says, hey, did you do this and forget to check the box? Or, hey, just so you know, you should probably look into this because based on how all of your other escrows are going, this one looks like an outlier. I also think that AI will be useful for telling me when I should reach out to the client.

Because I think the client still wants the personal touch. They still want their agent talking to them, not a robot. But the robot can tell the agent, hey, this person bought a house four years ago. Based on what we see in a Zestimate, their house has probably got up 35% in four years. You should reach out and see if they're ready to buy a bigger house. Or if they want a downgrade or rates have gone down, you should reach out and talk about a refinance. Right now, that's all in my head. And it's scary to be in my head because all the stuff that's going on in there, it'd be nice if I could get that into AI's brain and it could just tell one of us, you should contact these person for these purposes.

So I am excited to see how that goes down. I'm nervous because I don't think that's what anyone's thinking about when they're playing with chat GPT. They're not thinking about operations or think about sales. Yeah, what do you think, Mark? Are there any tools that might mirror some of the stuff that he'd be looking for? Not yet, but there are ways that you can implement what you're talking about from. Chat GPT from OpenAI into this. And there are a lot of companies right now that are helping with operations.

For example, we use Get Cody. So get Cody AI. And what that is doing is that's building a Boostly bot. So everything that you talked about there where it's reminding our staff, X, Y, and Z, we have that very low end. And what's really important is we're recording this in 2020. Right now, we're at the first iPhone stage of this technology. If you look at the first iPhone to iPhone, what, 15, whatever's coming out next,

it's so far, we've leaped so far in the future of what we can do with these little devices. And we're at iPhone one stage right now. And the crazy thing for me is in less than a year, we have massively got a lot better with this technology. And so much so, governments are stopping chat GPT 5, which is the next stage of this, from coming out yet because they need to just sort of pause. go, okay, what are we doing with this? But there are amazing tools that are available right now, at much lower end. Okay, so effectively, it's a tool to database where you put in all of your different guests, you put in all of the information about that guess, last point of communication,

notes. And so effectively what you're saying is a use case eventually will be merging sort of chat GPT or AI with that CRM to sort of create, I don't know, AI generated email and follow-up sequences that's personalized to them specifically based on the notes about that person so that whenever you remark it to them, it actually feels like you're speaking to them and not just sending out a message to 50,000 people. Yeah, exactly. And like say a message comes in and say, say you get an email and say, hey, Rob, really would like to come back and stay with you. Like, when that message comes into you and your team, and it's just like, fantastic, who is this person? I remember, like, when I was in our family business, we'd have people messages or send us an email and they came

stay with us five years ago. And my, my mom and my dad and I are like, who is this person? I was trying to go. And we have the standard email that goes about saying, hey, yeah, hope you well, yada, yada, yada. We didn't have a clue who they were. But with this tool and this technology, they can go, yeah, this is X. They stayed with you these dates. They actually came back and stayed with you a year later. They've got, you know, husband and wife, two kids. They came from Texas, wherever it may be, the information that they can give you. So then you can act and go, oh, yeah, absolutely. Fantastic to hear from you. We'd love to welcome you back. And, on all of those sort of things.

So it'll help personalize your communication, your outreach, et cetera. And this can go to you. I can go to your team. It can go to sales. You can go to any department. But this is where AI will be able to help you organize and make your business run much more efficient, but much more personalized. I think personalization is like the key message to take from all of this.

All right. I got one last question here. I want to play devil's got off kind of one other thing. If this becomes something that becomes standard in the industry and everyone starts using this. And anytime I go stay at Airbnb, be, let's say I stay at eight of them throughout the year, and all eight people are sending me all of those same text messages. How do you avoid someone just becoming saturated and blocking

and saying, I don't want to hear from this? So when everybody zigs, you zag. And so when the world does become a copy and paste, everybody's doing SMS, everybody's doing email, everyone's, I think it's going to become a case in point in time where every single digital message you receive online, the person is going to think, is this a robot sending me this or it's a human? So what are we going to do? Number one, we go back to the old school, write a letter. Pick up the phone and have a conversation with somebody. Do the things at the old school marketing that will be the new school. So instead of sending an SMS, you'll handwrite a letter, pop a little something in the post and send it to the person.

I feel like this will be where we come to a point in time where it all comes like swings and roundabouts, right? Everything comes back around. And when everybody is just relying on automation, what can you zag instead of where everybody's zigging? Isn't that funny? Yeah. It'll be like, remember the hipsters for a while? We're making it cool to use a Walkman, like a cassette tape recorder or something. Or they're like, I like to stitch my own clothes.

In a future where AI is taken over, the cool person's going to be the one who hand writes letters because they're one of the few people in the world that remembers how to like use cursive. Exactly. People are going to be surprised whenever they answer the phone and it's a real person. I think ultimately, if there's one thing to take away is that AI is here to amplify your capabilities, whether you're a small investor, intermediate, advanced, it's not here to replace you. It is here to be an extra set of hands to help you be more efficient. It's here to help you create concepts and renders very quickly.

It's basically here to help you follow up and sort of be an actual virtual assistant, if you will, like a literal virtual assistant that is all that's all living on the internet. So there's a lot of use cases there, but ultimately, if there's a lot of use cases there, but ultimately, if there's one thing you can take away, it's not going to replace us. It will make us better if we are willing to use it. That's my stance. What about you, David?

I think it's going to be messy. I think it's probably going to be messy as we first learn how to do it. I think people are going to rush into it thinking, oh, I don't have to do stuff anymore, take their hands off the wheel way too early. You're going to have a bunch of backlash against it because it's like, oh, I don't have to do this anymore. Let AI take care of it. And you're going to have a lot of irritated people.

There's be a backlash against it. AI and I think eventually we'll settle into like what human beings are okay with and then it will become the norm and then we will slowly just give more and more power over because that lure of convenience is always so, so powerful and the world will move into a way where I don't know, we're going a little bit too far with that. But yes, I think AI is going to happen at some point. But the wisest people will be the ones that don't replace themselves with AI. They enhance themselves. So the analogy that I give in scale is technology should function like Tony Stark's suit of armor in the Avengers. It doesn't replace him.

He doesn't create a suit of armor to go do the job for him. It enhances what he does. His brain still has to come up with the ideas for the lasers. He can't shoot a laser as a human, but with the suit of armor, he can. He can take damage in a suit of armor he normally couldn't take if he didn't have it. He'd never be able to go compete with a Thanos or something if he was just regular Tony Stark. AI should be used in that similar way. Your creativity, your business skills, your savvy, enhanced by technology will give you an advantage over other people.

But trying to replace yourself with those things will just guarantee you're going to lose. Yeah. Well, on that note, David, while we're here, since we're wrapping up, I actually went into chat GBT. And I said, can you write an analogy in the style of bigger pockets, David Green? And it said, it came up with something pretty good. It said real estate investing is like gardening. You start with the seed, which is. your property, you nurture it with care, just like you would water and tend to your plants.

Over time, it grows and flourishes, and you can enjoy the fruits of your labor, whether it's rental income or property appreciation. Just like in gardening, patience and attention to detail and real estate can lead to a bountiful harvest. Boom. I don't know if I love that, man. What do you think, Mark, on a scale of 1 to 10, how good was that analogy? I'm a solid, solid eight on that. I think that's pretty, it's pretty amazing. I was hoping you would give me a Brazilian jiu-jitsu one, but I guess that'll be for the... With gardening, I don't know I've ever mentioned gardening before, but hey, not bad. It just means I've got to step on my game, so chat GPT can't be better at being me than me.

Exactly. Exactly. Well, Mark, if people want to learn more about you, find you on the internet, where can people reach out, connect with you? Yeah, 100%. Well, you can see me in person at the upcoming Bigger Pockets Conference. I'm flying over to Orlando, which I'm excited to do. I'm going to be talking on about direct booking.

So come and check me out there. If you want to, I've actually put together, talking about prompts. So prompts are really important. I've put together 100 quality prompts that you can use on chat, GPT, etc. If you want a copy of that, just send me an email, mark atboosley.com. uk, B-O-O-O-S-T-L-Y.com. And I'll get that over to you. And if you want to get one of those Tavis videos that I was talking about, just head over toboosley.

And follow the links on there. You have opened the floodgates on your email, my friend. What about you, David? You can find me at Davyrene24.com. to see what I got going on or all social media at David Green 24. Thank you for asking. Rob, where can people find out about you? You can find me on YouTube and Instagram at Rob Built, R-O-B-U-I-L-T. Well, thank you, Mark. We've appreciated your time here today. I know you're British. This is a Scottish accent, but I'm sure it's from when you're familiar with.

Gets me flashbacks to the last episode. This is David Green for Rob, Baby V. Abas Solo. Rob, in a copy-and-paste world, you're still the baby V that I want to copy. Have a good one, guys. Thank you all for listening to the Bigger Pockets Real Estate podcast. Make sure you get all our new episodes by subscribing on YouTube, Apple, Spotify, or any other podcast platform. Our new episodes come out Monday, Wednesday, and Friday. I'm the host and executive producer of the show, Dave Meyer.

The show is produced by Ian K, copywriting is by Calicoke content, and editing is by Exodus Media. If you'd like to learn more about real estate investing or to sign up for our free newsletter, please visit www.biggerpockets.com. The content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk. So use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose.

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