WS1678 - AI for Real Estate Marketing | Vanessa Alfaro - Part 2

Join host Whitney Sewell as Vanessa Alfaro joins us for Part 2 on their episode discussing AI and how it pertains to the real estate industry.  In this episode, they uncover the potential of AI in property management and beyond. Vanessa sheds light on how AI-powered systems are advancing to handle complex tasks and provide precise responses, emphasizing the importance of clear instructions and effective communication. They discuss the remarkable capabilities of AI assistants, such as reading PDFs, creating personalized meal plans, and generating tailored recommendations. They also address ethical concerns, highlighting the need for careful oversight to prevent misuse of AI and mitigate potential biases. Discover the limitless possibilities of AI as it emerges as the ultimate personal assistant, revolutionizing the way we manage properties and make decisions.

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Transcript

Vanesa Alfaro: [00:00:00] The implications for real estate is if you are into deal this year, today, okay, and I go fully understanding of how I can leverage AI right now, in five years, the returns that I'm gonna give you are gonna be completely ahead of another company that is not.

Whitney Sewell: This is your daily real estate syndication show. I'm your host Whitney Seoul. We are back again today with Vanessa Alf Farro. And, and she is, Hey, I hope you listened to yesterday. , she's founder of five seven figure companies and today,, she's doing, she is, So knowledgeable about artificial intelligence and how she is using that in her real estate business.

, you heard us talk about it yesterday , and I'm, , we're gonna talk about a number of other things about it today, but she's gonna dive in. I wanna know, can we trust ai? , what do you think about that now that you've been using this and have, have just really become an expert in so many aspects of it and how to use it?

And I want you to listen to what she says, and I, I would love to hear from you. What do you think about ai? Would you leave a comment where if you listened to this or email us info life bridge capital.com? I would love to hear from you, even if you have suggestions for the show, if you have guests you would like for like us to interview.

If you have questions in your business or as a passive investor, we would love to hear from you.

Enjoy this interview as we continue our conversation. 

Vanesa Alfaro: So they're implementing this, and this is g this year. So how far do you think we are of having managers in our properties that are ai? 

Whitney Sewell: Yeah, very soon. That's so impressive. I, I think some of this is so, Like hard to take in for most people, right? Like, you can't even imagine that there's a machine that can comprehend all these things, right?

Even you talking about asking the questions correctly, I think it's so crucial, right? Even in a conversation like this, well, depending on the question you ask, [00:02:00] right, is determines the answer often, right? Most, more times. Not that you get, and, and you talking about, well, tell them if you're an attorney or not.

Tell them who you know, who your investors are, or like, that's so I can understand why we need training, right? Why we need to be trained on how to utilize, this machine. Really I, I feel, I feel like it's, it's kinda like you're setting somebody in a or let's say you're, you're setting a, a 10 year old in a, in a space shuttle, right?

Like, it's like all, what do we do? There's so many buttons and so many things to learn and you can't almost comprehend all the buttons yet. 

Vanesa Alfaro: Well, what I say to people, just not to make you and your audience care about this, okay? It's like talking about like you are talking to a human. So if you have an assistant and you need your assistant to book a fly, what do you say?

Book me a fly. No, you give details. Okay? Your assistant know who you are and your assistant is, knows that My name is Vanessa. I'm gonna tell her is I need a fly and I need to go to this place. I'm gonna go to Orlando and I'm going to travel with my kids. I'm going to Disney, ny. I also need you to book me a hotel.

I'm going this day, to these days, and by the way, I like to fly in this airline. Please don't give me another airline. And then I like to sit in the aisle, not in the hole. So I give details to my assistant. Otherwise she's going come back with something that I don't like. It's the same way that you do with this machine.

If you tell me exactly what you need, it's gonna give you good answers. And this is mind blowing. But yesterday, two days ago, I got access to another version of SHA G P T. When you, uh, it has access to plugins. And the long story short, just something that you can use at any time. Uh, if you use those, some of those plugins, okay?

You can actually do this reading of the PDF that I was telling [00:04:00] you that you can do with as your pdf. You can also do something very interesting. You can ask t to create a meal plan for you. Okay? Depending of a specific needs that you have, a specific allergies that you have as them to create a meal plan.

Ask PT to tell you the list of the restaurants. That can actually provide that type of meals for you. Ask child PT to create a list of all the ingredients that you need to create all that meal and then ask it to put it in the card for you. And then you just click and then you go to the website. It could be Instacart, and then you have all the ingredients there that you need for all that meal plan that you created.

You can do the same with flies and on and on and on. So at the end, you have created, and what we have right now is an AI assistant to everybody. To everybody. So if you have read this book, then who Not? How 

Whitney Sewell: that's right. Got it. Right. 

Vanesa Alfaro: Well ai, AI is your who. AI is the ultimate. For everybody right now. If you are not leveraging in ai, everything that you do, you're gonna, you're gonna spend the same amount of time.

Okay. And you are not gonna have the same efficiencies as any other person that they 

Whitney Sewell: have. One more, one more question before we have, we have to move on. I, I, we can talk about this on and on. I know, because it's so interesting and, but I know a common question that the listeners have is, how can we trust it, right?

I feel like we're, we're not talking to somebody, right? We're talking to a machine, and I understand like it's, it's right. More accurate than most people could ever imagine being about almost anything, right? But, but still, [00:06:00] I think it is gonna be such a mental block for most people, right? Being able to trust a machine like this and asking these things and, and, what are your thoughts about, just, I wanna trust it with those questions like that.

And using documents, like even making investment decisions based on, it providing feedback and things like that. 

Vaneaa Alfaro: Yeah, it is the ethics implications, the ethics implications of using AI are a big concern because if this goes into the wrong hands mm-hmm. Then it is gonna make decisions based on the interest of those wrong hands.

I was thinking about this yesterday because I was checking a video about how we're gonna use this in the medical industry. Okay. So in very, very short period, okay. Not today, but maybe in a year or two. Okay. Like the people that read cardiology, MRI and all this. Okay? The, uh, that will be an AI reading all this information, right?

So someone will get the, the doctor will get , to the, to that report from the a, from the AI saying, okay, these are the most. Complicated cases or the more important cases that you need to take a look right now from the hundreds, hundreds of cases, right? Because now you don't have someone checking this one by one.

Now, if this goes into the right hands, how you don't know that this AI is not putting, for example, rich people ahead of someone that is a minority, okay. Into that list. Yeah. It is a very important, it's a very important concern. That's something that, for me is very concerning, okay? And everybody is concerned about this.

El Mosque was one of the, the, the ones that started C G P T with some Atlan was Alamo, and now he's signing a petition to [00:08:00] slow down the growth of ai. He just signed a petition three months ago. Same with this, the founder of stable diffusion as well, because the problem is that there is a Mitch Mark in between the pace of people adapting to this technology and the pace of the growth of this technology.

So there, you wouldn't have enough time to adapt to all this. And is, I, I give you this analogy, Whitney, do you remember those cell phones we had here in the, in the eighties? The wide block? Yeah. Well, seven years later, the Blackberry came and Blackberry was, oh my God, amazing. It was the best. Okay. And then we had to wait eight years for the iPhone.

So that took 15 years in between that big block. It was fun. It was like about $10,000. Today and the first iPhone. Okay, so this technology is moving that fast. That is like maybe today we have this black, this wide cell phone. Okay. From the eighties. And then in a year we have a Blackberry and in six months we have the new iPhone.

There. There's no time to adapt to this. So going back to the ethics implications, there is a lot of concern about copywriting. There is a lot of concern of how these machines are going to learn themselves. Okay. Who are teaching these machines? Who blocking certain dangers? Um, ideas, I would say. And we don't know where this is going.

Yeah. But the same way people was fear. Fear had the same fears. I don't know when social media was there. And We have, we manage to do [00:10:00] that. There is still danger in social, in social media, right. If you use it in the wrong way say with electricity, I mean, if there is something wrong with electricity, you can get a fire.

Okay? It's not going anywhere. It's not going anywhere. It's here. It's gonna stay. We have to embrace it. We have to learn, okay? And I, I am one of those positive person, I am on their side that I believe this is gonna go the right way. I just hope that this doesn't get into the run. Hence 

Whitney Sewell: Vanessa, it's a man.

We could keep talking about ai, I think cuz it, it's such a new thing, right? And I, I think it's something that, man, you're right, we're gonna have to embrace it one way or the other and could be so we will, we will learn to be so much more efficient with tools like this. Or we'll be left in the dust, I'm afraid.

Right. 

Vaneaa Alfaro: But, and the implications, the implications for real estate are very important. Mm-hmm. Yeah. And this is what we were talking about. The implications for real estate is if you are into deal this year, today, okay, and I go fully understanding of how I can leverage AI right now, in five years, the returns that I'm gonna give you are gonna be completely ahead of another company that is not.

Forward thinking as I am because in five years they're gonna have way more expenses and they, they, they will be able to compete with me. So in every industry, but in real estate, I think this is very detrimental. 

Whitney Sewell: All right, Vanessa, a few final questions. What are, what are some of the most important metrics that you track?

That could be personally or professionally? Real estate. It could, yeah, it, it could be your bench press number or it could be your, you know, it could be, a real estate metric that you track. It could be something in your marketing, anything. What are some of the most 

Vanesa Alfaro: important [00:12:00] metrics? I try. I track everything.

We use the e o s system, which is the entrepreneurial operating system, and we have a scorecard and we track everything on the asset management aspect. I track things every week. Okay. So with the idea of non waiting, not waiting, that we receive a T 12 or a p and l. Okay. And we see that everything is off tracked.

So we track, uh, turnarounds of the units. When people, how, how long do they take to may ready that unit, how long does it take the people to move in? How long we, we track everything. We track how many people go walking to that door. Now with ai, it's gonna be much easier because we don't have to trust that it's a number than someone else is telling me.

We'll just have it right there and we will know exactly how much it's so we'll be more accurate. Uh, and we track everything in acquisitions we track. In marketing, we track in customer service. In, in my life, I track everything, how many times I drink water. 

Whitney Sewell: Wow. No, that's awesome. Or yeah, you don't, you don't know if you're improving, if you're not tracking it, right?

Mm-hmm. What about a couple habits that have produced the highest return for you? 

Vaneaa Alfaro: Habit has produced return for me. I would say that innovation again. Yeah. Because I'm always thinking how to do things different. Even before ai we were always thinking how is everybody is going this way, where we can go And uh, last year we just bought four Deal, not much.

It was actually two per portfolios. That's how much we purchased last year. But we were looking into It was so, the market was so crazy and all the, the cap rate was so compressed. Okay. So we could not follow everybody else and going into this crazy bridgeland. So actually last year we did not buy [00:14:00] anything into Bridgeland.

We were very clear on what we were looking for because we knew something like this was coming. So we're trying to go into different markets. We were looking how everybody is going. We wanna go somewhere else. So I think that having the idea of innovation and doing things different it has been very important for, for the business.

Whitney Sewell: And how do you like to give back? 

Vanesa Alfaro: Oh, wow. That's another podcast. I has been very involved into philanthropy. I have here in the US I have one that I love is calling Visible People. Okay. And he actually creates content to educate people about homeless and what is the real issue about homelessness and it's not what people think.

So he goes around the world, okay, to many countries. He live here, he's the founder. I met him actually about 12 years ago. Oh, I met him in 2006 when all the breakthrough of social media. And I was invited to a global summit of a hundred entrepreneurs and social media founders. That we're working on making the world a better place.

So it was actually about how to use social media for good. Wow. And I met Jack Dorsey from Twitter. I met Matt from mark, from Invisible People. And I has been very involved into philanthropy. Many times are not the same organizations that you will usually hear. Okay. I like to go to other smaller organizations that are doing something different.

And listen, that's one thing, but on the other side I try to also, I don't try, I do dedicate enough time to my kids. Okay. Because I believe they [00:16:00] are the future. Every kid in this world, they are the future and this is where they're going to create with this worthy 10 of them. So, uh, I have to dedicate more time.

But My, my teachings to my sharing of the knowledge, okay. To everybody else, cannot be bigger of what I do to my kids. Hmm. 

Whitney Sewell: Vanessa, grateful for your time and really sharing your expertise and helping all of us kind of get on the, the bandwagon here of, of ai. I feel like so many of us are, are way behind already, right.

On learning of what this could do for our businesses. And so just thank you for just really breaking it down. Very simple in the beginning, but then even going into some very specific ways for our investors and us as operators could help the ways we could really benefit, you know, from these platforms.

Thank you so much for your time. How can the listeners get in touch with you and learn more about you? 

Vanesa Alfaro: Of course. Thank you for asking. Well, if you go to my website, it's venus partners.com. I also have and I invite you to download this ebook that I have about AI and entrepreneurship. Okay. I think I have a lot of AI listed in that document that you can check, review, see what is important for you, and please just play with what you think is going to help you in your business and in your life, because this is overwhelmed, and then you can spend so much time learning about this and so much time playing with this.

I can even tell you that. Then you lose focus. So my business is real estate. It's not ai. I just love technology and I love innovation. So I, I spend some time learning about this and trying to catch up with what is new and what is applicable. To my business. But please go and download that ebook. Okay? And just remember as well that this can be an, a shiny object, okay?

[00:18:00] So use whatever is gonna help you in your business and in your life. So my website is venus partners.com, and you can also sign up for our newsletter as well. Okay? I, I talk about AI just in applications for Resa sometimes. So see if you wanna catch up with that, just sign up for our newsletter. And remember that AI and I say that AI is gonna bring some of our biggest, uh, freedoms to life.

AI is gonna help us to create financial freedom. Time freedom and geographical freedom. So I invite you to, in get involved into AI and with witness what your business can do and how you can thrive Okay. In ways that maybe you'll never imagine.