Digitally Verifying Tenant Applications
The most recent Door Grow Show podcast features Robert Hsu, of FinRET. They talk about how you can use the latest technology to digitally verify your applicants’ income, account balances, and cash flow. I’ve personally discussed FinRET with Robert and can attest to the value they bring property managers and landlords. His technological and business savvy have allowed property managers to cut financial verification processes from 5-days down to only 15 minutes AND he allows you to do this cheaper than other solutions. They’re definitely worth checking out.
Dallas-Fort Worth: Top Market for RE Investment
Money is flooding into Northern Texas for real estate investment as their economy continues to grow. Much of the investment is foreign direct investment coming from Canada. The Dallas-Fort Worth population continues to rise while new businesses continue to move to the area for tax benefits and more cost effective operations. These factors combined have made the area a prime target for real estate projects.
In a survey conducted by CBRE (NYSE: CBRE), Dallas-Fort Worth ranked second in the Americas for real estate investor interest, attracting foreign and domestic investors. Canadian investors are particularly interested in the area, funneling $326.2 million into North Texas over the past 12 months.
For a detailed profile of the Dallas-Fort Worth market, head here.
RE Tech is a Blessing not a Curse
Forbes explains why real estate technologies will change the game. As technology continues to sweep through the industry, real estate professionals will see accelerated growth in their business. Property management is a prime target for this technological innovation because so much of the daily workflow currently requires manual touch. As AI and chatbot interfaces become more sophisticated, property managers will find greater efficiency and accuracy in computer facilitated maintenance management and leasing management. Operations bottlenecks will slowly disappear allowing property management firms to unlock immense, scalable growth at higher profit margins.
Disrupting Real Estate
Real estate hangs on the verge of being disrupted by an influx of proptech companies like WeWork and Compass with over $7.6B in valuation. Venture funds have been pouring money into the space changing the commercial real estate landscape of cities like Manhattan, San Francisco, Los Angeles, and Latchel’s hometown of Seattle. As this pay to play model trends upward (being brand new to the commercial real estate space), the industry incumbents like CBRE may find themselves hardpressed to compete.