2018 was not just a year marked in my calendar; it also marked the end-to-end duration of a project in learning, sharing and applying property technology or #PropTech.
First came The Property Voice Podcast PropTech series. With 26 episodes, almost 100,000 downloads and 17 very special guests, spanning industry influencers, academics, journalists, company founders and all-around know-their-PropTech-stuff experts, this was no mean feat in itself. Then came the #PropTech book project, which is a whole other story! Anyone that has ever published a book will know that writing the book is less than half the story. Research, fact-checking, proof-reading, graphics and design, file conversion, printing, publishing platforms, promotion and more besides all eat up lots of time and stretch you out of your comfort zone as a content creator.
Was it all worth it? I would say yes it was and today's article is aimed at outlining some of the more practical outcomes for me personally resulting from this one-year project as we shall now see.
It's interesting how through this process it has changed certain aspects of how I now operate as a landlord/investor myself, here are some examples:
1. Introduced alternative energy sources into projects - I am now an energy supplier in some of my properties! This highlights the linkage between being green and sustainable on one hand with being commercial on the other.
2. Laying Cat 5 cabling inside the walls of HMOs during their conversion to ensure that each room has fast hard-wired, super-fast, Internet access. This gives a better service to my streaming-hungry Millennial tenants, as well as future-proofing them for more digital data services and the looming Internet of Things advances too. Tenants are customers, so providing them with a better experience can only be good for business, with fewer voids and tenant churn resulting.
3. I have now used or considering using alternative building methods, such as timber frame and pre-fab pods in the garden, which has saved me money and time already, which is nice 🙂
4. Looking at AI property management - I wanted to be a guinea pig with AskPorter's robot property manager, but it looks like I will have to join in their second or third wave...but having recently had to serve notice to an agent that was not looking after a tenant and property as they should, I cannot wait as this should provide a better service at a reduced cost, delivered in a way that suits how our tenants want to communicate. Put me on the wait list please Tom!
5. Keyless access for serviced accommodation - lock boxes are not new or particularly hi-tech, but key-less audio-visual, remote access entry systems, managed on your smartphone from halfway around the world are new...and some seriously awesome tech wizardry at a modest price too.
6. I now use DIY rental property listings through new tech online apps such as HomeRenter and upad, which makes self-management a more viable and cost-effective option; a defensive response in these S24-profit squeezed days.
7. My investments portfolio now includes PropTech startups like Polysolar, Labrador & Propifi. Blockchain-based property companies like Max Property Group (formerly Dominium) and BrickBlock have come from nowhere to offer alternative avenues to invest and raise funding in property. Somewhat speculatively, I have also had a modest flutter, in Cryptocurrencies such as Bitcoin, Etherium & Ripple. Much of this is now been possible through Crowdfunding sites like CrowdCube and SEEDRS, along with a broader awareness of what is out there through the PropTech VC community such as Pi Labs. This means it is now possible to have access to investments and funding channels not really possible or widespread just a couple of years ago.
8. Remote monitored, motion-detection CCTV for vacant sites - insurers place restrictions and policy conditions where a property is empty pending works, not to mention the risk, cost and delay to the property and project of theft or damage. So, technological solutions can deliver a security solution remotely as lower cost compared to physical on-site security.
9. Utilising big data in my property searches - sites like Land Insight can sift through large amounts of data to serve-up opportunities to pursue at reduced time input, thus reducing sourcing time and cost.
10. Plus, and to limit the list to just 10, I have extended the use of other PropTech resources that I already used, such as digital signatures, e-learning, mobile banking and offshore staffing to name a few
It's amazing how developments in PropTech is progressing and the process of writing the book has helped me not only to see these changes but to apply some of them, even as a potential 'property dinosaur' too 😉
So...how could the #PropTech book help you as a property investor, developer, industry service provider or homeowner? Well, perhaps Dan Hughes or @PropertyDan on Twitter, summed it up the best when he said...
Technology will change real estate and however you react to it, you must understand what is going on. This book will help you to do just that.
Call to action...
- Grab your copy of the #PropTech' a guide to how property technology is changing how we live, work and invest HERE. It is available in both Kindle and paperback formats to suit many reading needs and budget.
- Watch the video below for a little more insight and how you can get my book at a specially reduced price for the next week or two...but hurry, the offer will end soon!
https://www.youtube.com/watch?v=S6jqffRY-ZU&feature=youtu.be
3. Share this article to raise awareness of how PropTech or property technology can help your network contacts. If you share this between now and 19th January 2019 and also let me know, I will also enter you into a DAILY prize draw to win a FREE copy of the full-colour paperback version of the book (£17.50 RRP). Hint: you can share across multiple channels (Linked In, Twitter, Facebook, Instagram, etc.) EVERY day for more entries into the draw 😉
Thanks for looking...now go and see how PropTech can be applied to YOU. Alternatively, if you choose to ignore its inevitable advances, you might just be left behind...