We are in an age where we have information at our fingertips. And that is no exception for real estate investing.
But there is not always the time to dig through search results, crank out calculations, or ponder about what’s the best way to phrase things when starting from scratch. That is where Alma comes in handy.
If you have experience using artificial intelligence you might have a great starting point for what to ask Alma. But if you are drawing a blank on where to start or want to learn more phrases you can ask, we’ve got you covered.
Here are the top 5 phrases you should be asking Alma and a list of Alma’s quick prompts.
Top Questions to Ask Alma
1. Where should I start: wholesaling, flipping, or buy and hold?
If you’re a real estate investing beginner and need help determining what type of investing you should start with this phrase can help lay out guidelines you should consider. All of the experts have their preferences and favorite ways to invest. You can still seek guidance from mentors or these experts and not just an AI. Ultimately, the decision of where to start is yours and you should factor in a few perspectives.
2. How do I negotiate a property purchase?
Negotiation is a key skill in real estate investing. This is where knowledge of the market, the ability to assess the property's value accurately, and communication skills come into play. Being prepared with this information will give you leverage during negotiations.
3. What is the ARV of this property?
ARV is an estimate of the property’s value after all repairs and renovations are completed. It's crucial for investors who are considering flipping properties or buying distressed properties. To calculate ARV, you need a good understanding of the property's current condition, the cost of necessary renovations, and the market value of similar, renovated properties in the same area. When you ask Alma this question, it pulls the relevant information from the lead card and calculates it almost instantly.
4. How can I diversify my real estate portfolio?
Diversification is an important strategy to mitigate risk in real estate investing. If you are looking to expand and diversify your portfolio this question can help lay out the options. The right approach to diversification depends on your personal investment goals, risk tolerance, and the amount of time and effort you're able to dedicate to managing your portfolio.
5. What should I look for in a property (wholesale, flip, or rental)?
So you’ve done all the research to determine what type of real estate investing strategy you want to start. Next, you know that you need to start looking for properties, but are a little unsure of where to start when looking for these properties. That is where this question comes in handy. Alma will give you a few suggestions on what to look for in a property. We also recommend you look for off-market and distressed properties.
Quick Prompts with Alma
Now that we’ve gone through some of the top questions you should ask Alma and why, let’s go over the quick prompts that I left out of our top 5 since you readily have access to them.
- Analyze this property.
- How to get in touch with the seller?
- Write an SMS message to send to the owner.
- Help write a cold call script.
- Calculate the offer price.
- Help find a title company.
- Help me calculate repairs on this property.
- Help me practice negotiating.
- How do I find cash buyers?
- How do I find renters?
Navigating the world of real estate investing can seem daunting, especially for beginners. There's a lot of information to digest and decisions to make. But remember, you're not alone in this journey. With Alma, our AI Real Estate Assistant, you have a powerful tool to help you answer key questions and make informed decisions.
The top five questions and the quick prompts we've covered are great starting points, and they represent just a fraction of the capabilities of Alma. Whether you're pondering where to start—wholesaling, flipping, or buying and holding, calculating an ARV, or strategizing your portfolio diversification, Alma is here to provide data-driven insights to guide your real estate investing journey.
Remember, the road to real estate success isn't always straightforward, and it often requires time, patience, and learning from experiences. But with the right questions in mind and a powerful tool like Alma at your fingertips, you're well-equipped to navigate this path.
Embrace real estate AI and leverage Alma to simplify your real estate investing journey. Ask, learn, and grow as a savvy real estate investor.
