You’ve heard us giving updates on Property Llama, our new software that helps investors analyze their portfolios. Over the past few weeks, we’ve had a whirlwind of opportunities, culminating in presenting the software at the Inman Conference.
To hear the Property Llama presentation, go to 5:59 of this episode’s YouTube video!
- Listen to the podcast “#373: Property Llama Goes to New York” on the Denver Real Estate Investing Podcast
- Watch the YouTube video (at the bottom).
- Read the blog post. Note, the blog is an executive summary. Get the in-depth breakdown from the podcast or video.
What is the Inman Conference?
This year was the 25th anniversary of the conference, started by Brad Inman. He founded Inman News, a Global Newswire Distribution Network for real estate professionals. Inman’s journalism is known for accurate coverage of the real estate industry, including staying on the cutting-edge of technology. They put on two marquee conferences a year, one in New York City and one in Las Vegas.
These conferences are attended by the biggest names in real estate, and are a great opportunity to connect with others in the PropTech (Property Technology) space.
How Did We Get There?
Chris came up with the concept to turn financial planning, portfolio analysis, and real estate investing from a spreadsheet into software about 18 months ago. In the past two months, we’ve been really focusing on getting the software out into the world.
Recently, we gained support from DMAR, the local association of realtors in the Denver metro area. Their CEO is a huge believer in technology, and he got us into the regional conference, where we presented Property Llama. That presentation was a success, and we built on the momentum.
I got a message from one of my co-presenters asking if I saw that Inman was looking for a female presenter in the startup space. I reached out to them, applied, and within a week was speaking on stage as part of their New Kids on the Block segment.
What Happens at the Inman Conference?
This conference is a full on contact sport. The days start at 7:30am and go until the early morning hours, with some of the best connections and conversations happening at the after hours events. It’s one event after the next, and you don’t want to leave because of all of the great people there. There are coffees, luncheons, wine roundtables, and after parties all over the city.
Each day gets more exciting as it goes on. People start to loosen up, get a little less business focused, and spawn great conversations and connections.
What Other Companies Are Making Advances in PropTech?
Two companies really stood out to me at the conference: Doorsey and Torii.
Doorsey is bringing transparency into the buying process by showing live bids on properties. They’ve figured out how to get around regulations that keep bids private and bring the seller and buyers together. They are essentially running an auction, where buyers can bid on the home in real time.
At the conference, they ran a great after party at a bar where they ran a live auction for us all to watch. It was fascinating to watch the price of a home go from the mid-$500s to the $700s by the end of it. While there are more questions about qualifying offers and negotiations, it’s exciting to see how this develops.
Torii out of Boston is creating a platform for buyers to purchase real estate using cryptocurrency. While capital markets understand crypto really well, the general public is still catching up. Torii is working on bridging that gap and making real estate transactions with crypto more common.
How Can I Replicate Your Success?
My biggest piece of advice is to look for opportunities. Even if the opportunity is local or seems small, it can snowball into something bigger. Get involved in groups and make meaningful connections. I focus on nurturing my relationships with people and adding value to them.
Don’t be afraid to ask to start a Mastermind, either. Get on Google Meet and share ideas with each other. It’s great to talk to people, but you need to follow up and build relationships, too.
Get Involved in the Future of Property Llama
What makes Property Llama so unique is not just that no one else is in this space, it’s that it’s borne out of a need of our clients. A Silicon Valley venture capitalist didn’t come up with the idea and roll it out–it grew from the services we’re already providing.
When it comes to proof of concept, we are already there. We have advised over 200 clients on how to track, gauge, grow, and forecast a portfolio of real estate investment properties, and our clients love it!
We built on this by running a live streamed Portfolio Analysis Mastermind over Facebook with over 100 attendees putting their properties into Propertyllama. The feedback we are getting is great. People need this. Clients want this. Few, if any, other brokerages are doing anything like it!
Going forward, we’re going to keep putting energy into Property Llama. We had a huge success with our Portfolio Analysis Mastermind and got a great reaction from the conference, too. If you have ideas and want to work with us, reach out. This software was a grassroots, group effort, and that’s how we’ll make it better.