Bob Mather - Artificial Intelligence in Real Estate Investing: How Artificial Intelligence and Machine Learning technology will cause a transformation in real estate business, marketing and finance for everyone

Artificial Intelligence in Real Estate Investing

How Artificial Intelligence and Machine Learning technology will cause a transformation in real estate business, marketing and finance for everyone

DISCLAIMER

C opyright Abiprod 2019

All Rights Reserved

No part of this eBook can be transmitted or reproduced in any form including print, electronic, photocopying, scanning, mechanical, or recording without prior written permission from the author.

While the author has taken the utmost effort to ensure the accuracy of the written content, all readers are advised to follow information mentioned herein at their own risk. The author cannot be held responsible for any personal or commercial damage caused by information. All readers are encouraged to seek professional advice when needed.

BOOK DESCRIPTION

C ongrats on purchasing this book. You are about to delve deep into the future of real estate investing, property management, real estate financing and marketing. If you are excited about the industry or even just curious about the future of the real estate industry, then this book is for you.

The book starts off with the history of Real Estate Investing in the United States. From the days of early colonization to modern use of online rental applications, it goes through every stage in the process; so, you know how we got to where we are today.

Then the book talk about how we can use advanced artificial intelligence tools like machine learning and neural networks to evaluate property prices; in addition to using tools like VR (virtual reality) to improve the customer experience.

The book then talks about how the role of real estate agents will change with introduction of high efficiency algorithms to filter applications, complete paperwork and properly evaluate property rates. There will also a significant increase in security with facial recognition systems and reduction in maintenance costs with use of home sensors.

While the real estate industry has been slow in adapting digital marketing tools compared to other industries, research indicates that use of these tools will significantly reduce customer acquisition costs. Its just a matter of time before it is used all across the real estate industry.

Then, the book looks at how artificial intelligence will significantly improve the way landlords pick the best rental applicant. While credit score and current income are reasonably good factors; they miss out on a lot of critical factors that artificial intelligence can easily capture.

The History of Real Estate Investing Technology

Early History of US Real Estate

Real Estate Evolved Differently Depending on Region

R eal estate in the United States was very different during the founding days of the nation. In fact, most of the land that was sold was sold in huge quantities. Most people were farming back then as that was the only way to truly live.

Essentially, settlers would first come to the land and just build a house there. Over time, more and more of the land was owned by settlers. The safer regions were owned by someone else a good portion of the time.

The solution was to sell part of the land to the newcomers or to allow children to inherit parts of the land. For a very long time, new houses were not often built because the local lifespan of the individual meant that the child what often inherit the house.

However, this presented a unique situation where real estate laws evolved based on areas that were settled first. Laws around selling homes in Pennsylvania was different than laws about selling homes in Missouri because they were settled at different times.

Rapid Evolution Brings Historical Difficulty

This uniqueness is intriguing which means that pretty much anything was possible. It is very difficult to historically define the early beginnings of real estate beyond the general sense. The laws of the past have been changed and edited for the future with little to no record keeping.

However, it does present a unique case. Real estate evolved as more people entered an area. This is true even to this day. Real estate evolves every time that the previous rules can no longer adequately serve the new area's population. Just as we originally started out by just setting up houses wherever we stopped, we also started selling the chunks of our land to whoever might happen to be interested.

Eventually, we began to face scrutiny by the government. The colonies, as American cities and areas were first referred to, faced higher taxes on property and items than the country of origin. This eventually, along with other factors, led to the revolutionary war.

The Government Began a Mass Land Collection

What started to happen was the people in an area began to form their own laws to keep them safe. These people would enact local governments that would represent them. These local governments would then employ people to keep the security of the land.

Local governments were very small in the beginning. However, when the government begins enacting services, those services needed payment. The services are provided by people who need to live, thus they need a reason to do the job. The government didn't really have many options to bring in money. Being able to collect land, on the other hand, provided them with a way to collect money. In addition to this, sales tax and other taxes persisted in the original 13 colonies. Sheriffs in outward communities were often paid by bigger cities that sent them there.