Using Artificial Intelligence with Real Estate | Athanasios Tsiropoulos

One of the most important questions that investors ask is whether or not a deal is better than another. A real estate investor should take into account the past performance of the property when making my decisions.

A good deal involves analyzing various factors such as the property's current performance, its demographics, and its potential for improvement and looking for trends. This helps identify areas of potential improvement.

Before investing in a property, it's important first to determine if the assumptions are based on a factual basis or if they are based on hard data.

We are always looking for the closest thing to "fact" when it comes to making an investment decision. Hard data is very important when it comes to making an investment decision.

Artificial intelligence (AI) and machine learning (ML) are commonly used in real estate transactions to analyze and interpret data. It helps make better decisions when it comes to investing.

Tech in the Workplace 

Machine learning is a type of artificial intelligence that can learn from past experiences. Artificial intelligence takes technology and imitates human intelligence. It can perform complex calculations and analyses at a faster rate than humans can. With the help of machine learning and AI, you can perform various tasks that would typically be hard for humans. 

ML and AI help identify which markets to look at based on the past performance and future trends of a property. The technology uses both historical data and current market conditions to come up with an estimate of how a market or submarket will perform in the future.

AI also allows investors to compare multiple market data points, such as the average vacant days, retention rates, and lease terms. It can also give operational forecasts and sales comps, which help investors understand the competition in the future.

AI software can also come up with extensive predictions based on the data analyzed. These can include tenant patterns, neighborhood forecasting, and predictive maintenance. Having all of this data can help determine the potential of an investment.

What to do with the Data

One of the most important factors that they use in the analysis is the potential rent growth. With the help of AI and ML, they can come up with a more accurate estimate of how much rent growth will happen. Since there are so many variables that can affect a property's potential performance, they typically use a conservative approach when making projections.

Despite the complexity of the process, the data collected by AI and ML can provide more reliable and accurate results. Not only can they come up with an estimate of how much rent growth will happen, but they can also analyze the performance of the entire market.

New AI technology is also being developed that can help predict the renewal rates of individual tenants. This could help maintain a higher occupancy rate and improve the overall performance of the property.

Although many investors might not be interested in using AI to analyze their investment options, it's still important to ask the sponsor of the software to provide you with their reports. Some of the most prominent sources that provide AI-powered reports are Yardi Matrix, Axiometrics, and CBRE. 

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About Athanasios Tsiropoulos

Athanasios Tsiropoulos is a real estate expert with over two decades of experience. His father realized the American Dream by building a real estate empire with nothing but his ability and strong work ethic. Athanasios, like his father, has the same drive and dedication to succeed.

Athanasios relocated to the Dominican Republic town of Punta Cana after a successful 20-year career. Noting how the Caribbean Sea and the Atlantic Ocean created picture-perfect landscapes, Athanasios, an astute businessman, saw the island’s crystal-clear waters and more than 30 kilometers of white sandy beaches and knew it was the ideal location for his luxury rental property business, Good Times Punta Cana. In addition to managing short-term vacation rentals, he also managed single-family homes and large apartment complexes. fter working for several years learning the ins and outs of the business, Athanasios founded his own painting and home remodeling firm. He worked with numerous real estate brokers in Fairfield and Westchester County, New York, to renovate properties that were about to be put on the market.

Athanasios Tsiropoulos, who now calls Medellin, Colombia, home, enjoys spending time with nature and reaping the benefits of everything the city offers. Fishing, camping, and relaxing with his family are some of his favorite pastimes, and traveling whenever possible.

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