Technology has a way of doing things bigger, better, and faster, and in doing so, it has the ability to disrupt established business plans, markets, and entire industries completely. Today’s guest Neal Bawa is known as the “mad scientist of multi-family” and in this episode, he warns us that if we ignore the developments in PropTech it could be detrimental to our livelihoods as real estate asset managers. He also explains that by getting ahead of the game there are a lot of expenses that can be reduced and money to be made from the innovative developments in this field. Neil is a data guru, process freak, and outsourcing expert with almost $1 billion in assets in his portfolio and 800 active investors. He is well known for his ability to apply big data, big data analytics, technological processes, and outsourcing to real estate. Listening in you’ll hear more about what PropTech is, what you can do with it today, and what you will be able to do with it in the future. To hear about some revolutionary ways to save money on real estate management, from smart vents to water leak detection devices, robots security guards, and others, tune in today!
Key Points From This Episode:
- An introduction to Neal Bawa and how he came to be known as the “mad scientist of multi-family”.
- How he applies analytics to different asset classes to figure out which are performing better at any given time.
- An introduction to what PropTech is, what you can do with it today, and what you will be able to do with it in the future.
- The power of technology to disrupt business models and why everyone should follow developments in PropTech.
- The example of smart vents to demonstrate the value of PropTech.
- Water leak devices as a way of reducing insurance costs.
- How not staying up to speed with advancements in technology can cost operators money.
- Moving robots in the place of security guards as a way to save you money.
- How PropTech can help you generate income from a pet lease.
- Technological developments that we will benefit from in the future; including 3D printing and modular construction.
- Parking machines as a solution for land shortages.
- Why Neal considers his employees in the Philippines to be his asset management superpower.