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Justin Colby

👤 Person
3971 total appearances

Appearances Over Time

Podcast Appearances

The Science of Flipping
Will AI Take Over Real Estate? Here’s the Truth...

That all the underwriting for the tenants can be done through technology and AI and bots. I understood, you know, kind of all their points about making sure again, the downside risk of a bad tenant, how you can basically use all the screening and all of these different things, how you can find tenants through technology and, and then you can manage it through, uh, certain levels of technology.

The Science of Flipping
Will AI Take Over Real Estate? Here’s the Truth...

That all the underwriting for the tenants can be done through technology and AI and bots. I understood, you know, kind of all their points about making sure again, the downside risk of a bad tenant, how you can basically use all the screening and all of these different things, how you can find tenants through technology and, and then you can manage it through, uh, certain levels of technology.

The Science of Flipping
Will AI Take Over Real Estate? Here’s the Truth...

And then kind of the point I brought up as a landlord, uh, and I asked, this is a panelist that I basically asked him. Um, and it was great by the way. Um, I basically just said, Hey, when it's time for said tenant to leave,

The Science of Flipping
Will AI Take Over Real Estate? Here’s the Truth...

And then kind of the point I brought up as a landlord, uh, and I asked, this is a panelist that I basically asked him. Um, and it was great by the way. Um, I basically just said, Hey, when it's time for said tenant to leave,

The Science of Flipping
Will AI Take Over Real Estate? Here’s the Truth...

Is there going to be technology or a bot that's going to come in and give me a number of how much money I need to spend to repair or fix the home as they lived in it for 2, 3, 4, 5, 6, 7, 8, 9, 10 years? He said, well, no, that there's going to have to be a contractor involved that kind of gives you an estimate. And I said, OK, fair enough. And I only asked not to be rude or to, you know.

The Science of Flipping
Will AI Take Over Real Estate? Here’s the Truth...

Is there going to be technology or a bot that's going to come in and give me a number of how much money I need to spend to repair or fix the home as they lived in it for 2, 3, 4, 5, 6, 7, 8, 9, 10 years? He said, well, no, that there's going to have to be a contractor involved that kind of gives you an estimate. And I said, OK, fair enough. And I only asked not to be rude or to, you know.

The Science of Flipping
Will AI Take Over Real Estate? Here’s the Truth...

I just asked because I just believe as much as we can systemize screening a tenant as much as in by the way again is the you know proper expectations you need to inspect what you expect at all times so I didn't want to you know pepper him but I would make an argument you know letting technology simply you know underwrite whether a tenant is worthy

The Science of Flipping
Will AI Take Over Real Estate? Here’s the Truth...

I just asked because I just believe as much as we can systemize screening a tenant as much as in by the way again is the you know proper expectations you need to inspect what you expect at all times so I didn't want to you know pepper him but I would make an argument you know letting technology simply you know underwrite whether a tenant is worthy

The Science of Flipping
Will AI Take Over Real Estate? Here’s the Truth...

know ladies and gentlemen i hate to say this but there's not the most scrupulous people out there doctoring some documents and you know pdf editors and all these other things that people can submit to technology and have no human component uh i don't believe that to be the best decision right um

The Science of Flipping
Will AI Take Over Real Estate? Here’s the Truth...

know ladies and gentlemen i hate to say this but there's not the most scrupulous people out there doctoring some documents and you know pdf editors and all these other things that people can submit to technology and have no human component uh i don't believe that to be the best decision right um

The Science of Flipping
Will AI Take Over Real Estate? Here’s the Truth...

You know, I know that people out there doctoring documents and income and whatever the things are, they can go out there and there's enough, again, technology that you can make it look pretty seamless.

The Science of Flipping
Will AI Take Over Real Estate? Here’s the Truth...

You know, I know that people out there doctoring documents and income and whatever the things are, they can go out there and there's enough, again, technology that you can make it look pretty seamless.

The Science of Flipping
Will AI Take Over Real Estate? Here’s the Truth...

I mean, I just remember COVID and people were saying that they were taking their positive COVID test and just editing it on whatever I'm guessing PDF editor and turning it negative and submitting it. and then they would be able to travel or whatever the case. This isn't that hard to change things.

The Science of Flipping
Will AI Take Over Real Estate? Here’s the Truth...

I mean, I just remember COVID and people were saying that they were taking their positive COVID test and just editing it on whatever I'm guessing PDF editor and turning it negative and submitting it. and then they would be able to travel or whatever the case. This isn't that hard to change things.

The Science of Flipping
Will AI Take Over Real Estate? Here’s the Truth...

So then we're talking about allowing a tenant to occupy one of my rentals, that all we did was allow technology to say, yes, they have the income, and yes, they have the credit. Is that really where we want this to go? And I'm going to argue no. This is, again... I didn't want to pepper in myself.

The Science of Flipping
Will AI Take Over Real Estate? Here’s the Truth...

So then we're talking about allowing a tenant to occupy one of my rentals, that all we did was allow technology to say, yes, they have the income, and yes, they have the credit. Is that really where we want this to go? And I'm going to argue no. This is, again... I didn't want to pepper in myself.

The Science of Flipping
Will AI Take Over Real Estate? Here’s the Truth...

I just, you know, knowing what I know about finding tenants and filling tenants and having tenants and dealing with tenants, like, holy moly. Like if you are just going to let technology make those decisions, I believe on a pretty large percentage basis, you're going to come into not the tenant you wanted. Right. Um, Again, this is, and maybe I'm old school, guys.

The Science of Flipping
Will AI Take Over Real Estate? Here’s the Truth...

I just, you know, knowing what I know about finding tenants and filling tenants and having tenants and dealing with tenants, like, holy moly. Like if you are just going to let technology make those decisions, I believe on a pretty large percentage basis, you're going to come into not the tenant you wanted. Right. Um, Again, this is, and maybe I'm old school, guys.

The Science of Flipping
Will AI Take Over Real Estate? Here’s the Truth...

Maybe you guys are listening to this and say, Justin, I totally disagree. I think this is going to be totally easy or, you know, it'll get to this place. I just believe you want great tenants who won't trash your home and will pay on time. Allowing tech to, you know, make that decision for you is, to me, pretty short-sighted. This goes back to inspect what you expect. If you expect technology...

The Science of Flipping
Will AI Take Over Real Estate? Here’s the Truth...

Maybe you guys are listening to this and say, Justin, I totally disagree. I think this is going to be totally easy or, you know, it'll get to this place. I just believe you want great tenants who won't trash your home and will pay on time. Allowing tech to, you know, make that decision for you is, to me, pretty short-sighted. This goes back to inspect what you expect. If you expect technology...