For years, you’ve been hearing about AI integrating into industries …
… And now it’s doing just that in real estate investing!
No, the robots aren’t taking over.
This brings up the question:
Why Use AI in Real Estate Investing?
A day in the life of a real estate investor can quickly get hectic.
Between searching for properties, closing deals, and working with tenants, it can be difficult to get everything done in one day.
AI technology helps real estate investors work more efficiently.
It’s true!
I’ve learned that AI provides helpful support for many real-estate related tasks, and can even completely automate some workflows to save time.
This gives you as a real estate investor more time to handle the more complex, strategic parts of the job.
But not only that.
AI is very effective for analyzing data and providing helpful insights, which is beneficial when searching for new properties across a large geographic territory.
The insights AI provides helps real estate investors make strong business decisions to maximize long-term revenue.
How Can AI be used in Real Estate Investing?
There are so many ways to use AI throughout the real estate investing process. These include:
- Identifying market trends with predictive analytics
- Writing emails, property descriptions, and social media posts with generative AI tools
- Evaluating potential properties to purchase
- Automating tenant screening and communications
- Creating financial documents and performing financial analysis
These are just a few of many ways you could use AI in real estate investing.
Here’s the best part: as AI technology improves, investors will likely find even more innovative ways to incorporate it into their daily workflows.
AI Tools to Use in Real Estate Investing
Here are my 10 favorite AI tools for real estate investing:
1: HouseCanary
HouseCanary is an AI-powered digital assistant for real estate professionals. The platform focuses on single-family properties and helps with property search, market analytics, and more.
For example, users can ask HouseCanary to generate a list of properties that meet specific criteria.
This can help you find properties in your desired location and budget in seconds and narrow them down by amenities or neighborhood details.
Canary AI can also help with property valuations for more accurate financial decision-making.
2: Polymer
While not specifically real estate-focused, Polymer is a powerful business intelligence tool that uses AI for in-depth data analysis.
This tool can take your existing data sets and turn them into visually appealing reports with thoughtful insights, which can help you find trends or patterns in your portfolio’s performance.
Additionally, Polymer has a built-in chatbot that answers questions about your datasets. This helps make the data analysis process easier and more efficient.
3: Virtual Staging AI
Creating visually appealing property listings is essential to attracting potential tenants or buyers.
If you don’t have time to physically stage a property, Virtual Staging’s AI tool does it for you.
Upload your photos directly to the tool and it will add realistic furniture and decor to make the property look more appealing.
4: Write.Homes
As a real estate investor, you need to communicate with property owners, potential buyers, tenants, and other investors.
You may also need to use social media and content marketing strategies to promote your business.
Write.Homes is an AI tool that helps real estate professionals generate written content such as emails, property listings, social media captions, and more.
5: Real Geeks – Geek AI
Real Geeks is a popular real estate CRM, and the platform recently added a new Geek AI feature that makes it even more powerful.
Real Geeks is already a trusted tool for lead generation and prospect tracking. Geek AI is a chatbot that helps you respond to leads more quickly so you don’t miss any potential opportunities.
6: Lofty.AI
Lofty.Ai is a marketplace that offers fractional real estate investing opportunities.
Members can invest in a portion of a rental property and receive passive income each month, without the full workload associated with traditional real estate investing.
It uses AI technology to automate many of the financial aspects of the investment process. Additionally, established investors can use Lofty to sell properties and manage communication with other investors.
7: DealMachine
DealMachine is a real estate prospecting tool that helps investors filter through available properties and find owner contact information.
The platform recently launched a new AI chatbot named Alma, which is designed to serve as an investor’s assistant.
This chatbot can provide property analysis, generate outreach scripts, or even just answer your questions about investment strategy.
8: Skyline AI
Skyline AI is a tool specifically designed for commercial property investors.
This tool provides a comprehensive analysis of potential commercial investments to help firms make portfolio decisions that align with their long-term goals.
9: Canva
If you need to create graphics for your businesses’ website or social media profile, Canva is one of the easiest ways to do it.
The platform recently launched Canva AI, a built-in image generator. You can then add your AI-generated images directly to Canva’s templates to create a variety of graphics.
10: ChatGPT
ChatGPT is one of the most popular generative AI tools on the market, and for good reason. This tool can help real estate investors with a wide variety of language-based tasks, from polishing up emails to writing property descriptions to conducting research.
While it has its limitations, ChatGPT is a very helpful tool for getting important tasks done quickly.
The Bottom Line: AI in Real Estate Investing
I was skeptical too: AI in real estate?
Really?
But I tried it out, and these are my favorite tools that can help the real estate investing process from lead generation to closing.
While AI can’t do everything for you, it can help you automate some of the most repetitive and time-consuming parts of your business to help you reach your goals.
