Unless you've been living under a rock, you've probably heard about ChatGPT. It's the AI program taking over the world and shaking things up in nearly every industry. So, what does the rapid evolution of ChatGPT mean for us real estate investors? Well, G. Brian Davis from REtipster recently explored the capabilities of ChatGPT to answer real estate-related questions and compared its answers to what one would find through Google.
First, it's important to understand the difference between the two. Google is a search engine that delivers human-written web pages based on your search query. Meanwhile, ChatGPT is a large language model chatbot that is intended to feel more human. It comes up with answers for cues by sourcing data from a wide range of sources, including news articles, academic papers, books, and websites. An important thing to note is that currently, ChatGPT can only search data up until 2021.
This becomes clear as Davis tests the two programs. He chose five questions real estate investors would likely search for and compared the results. Davis found that overall, Google outperformed ChatGPT, although both programs typically came up with solid answers to his questions. In his opinion, Google encouraged users to keep digging deeper into topics. At the same time, ChatGPT often gave surface-level answers without all the nuances necessary to understand the topics. In addition, ChatGPT lacked the up-to-date data that Google was able to draw on.
Despite the drawbacks of ChatGPT now, this is only the beginning. The advancements made in the past few months alone are hard to wrap your mind around. It's clear that AI will become a vital tool in real estate investing. But for now, investors will need to stay up-to-date on the capabilities and limitations of these technologies in order to make informed decisions.
Read the whole article on the REtipster website.
FIRE ROUNDTABLE AND JAZZ N' APARTMENTS 8
This month, we dropped a brand new series on our Instagram page - The Fire Roundtable! This series gives viewers a sneak peek into the intimate behind-the-scenes moments at Multifamily Empire. How did we get here? What does happiness mean to us? What makes Neander cry? We are super excited to give you guys a chance to see real-life, day-to-day moments, challenges, and backstories of our team, so stay tuned for more installments of The Fire Roundtable!
We also held our 8th Edition of Jazz N' Apartments! We took the party back to our beloved Mio Nonno for an intimate evening of networking, jazz music, and Italian food. Each event is getting bigger and better, and they are the perfect place to grow your network and meet other industry professionals. If you haven't checked it out yet, stay tuned for an announcement for our next event!
With the rapid pace of technological advancements we've seen in recent years, it's absolutely essential to stay up-to-date and make the most of the technology available to us. New tools, such as the AI capabilities discussed above, are indispensable in optimizing businesses. For example, we use software to streamline the Investor Portal experience, automate the creation of reports and returns, and disseminate content such as our podcast and online course. While these technologies make our lives a little easier, the real advantage is that they allow us more time to spend on other things like building relationships with our investors, partners, and employees. In today's world, we can use technology to access rich content, connect with like-minded individuals, and channel relevant information to everyone who is interested. While technology will never replace real human connection, there is no doubt that it is a fantastic resource that allows us to excel at what we do and Build an Empire Together.
I am truly honored to be a part of the Multifamily Empire team. They have proven themselves to be a fantastic company to work for, consistently providing assistance in a variety of situations. My experience working with Neander and Delia has been nothing short of remarkable - their dedication to maintaining a family-oriented environment is evident, and their unwavering support has been instrumental in my success as a Property Manager.
In my years of experience in the industry, I am more than confident to say that Multifamily Empire stands out for their genuine commitment to employee growth and the well-being of their staff.
Minnie Gonzalez,Property Manager
Invest in Professional Tax Help
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Reinvest Capital ASAP
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Go With What You Know
Don't invest blindly - do your research! Take stock of what investments have worked in the past, what the market trends are, and what opportunities are available now. Invest wisely.
