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Show Summary
In this episode of the Real Estate Pros podcast, host Michelle Kesil interviews Oliver Wright, a seasoned real estate investor and creator of a predictive analyzer designed to help investors assess property deals more efficiently. Oliver shares insights into the development of his tool, its unique features, and how it can benefit both new and experienced investors. He discusses the importance of understanding market dynamics, learning from past experiences, and the future of real estate investing, including opportunities in emerging markets.
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Investor Fuel Show Transcript:
Oliver Wright (00:00)
⁓ and the funny thing is it kind of said, no, said, don’t, don’t do this deal right now. ⁓ and, as I put more information in there, like the CCRs, ⁓ the, the county covenants and restrictions, ⁓ I was able to put the, ⁓ contract in that we put together for the actual structure itself, put that in and then it said, okay, now that I have more information, ⁓ this looks a little bit better, for you and you’re not getting a great deal. You’re getting an okay deal, which.made me feel a little better. ⁓ at the end of the day though, it, kicked out to us, what it thought we would be able to sell the property for. And again, very pleasantly surprised. We actually just went under contract on that home for about $5,000 less than anticipated, but man, it was pretty spot on.
Michelle Kesil (02:19)
Hey everybody, welcome to the Real Estate Pros podcast. I’m your host, Michelle Kesil and today I’m joined by someone I’m looking forward to chatting with, Oliver Wright, who is a real estate investor, as well as created a predictive analyzer to support other investors in finding the best deals. So, excited to have you here today, Oliver.Oliver Wright (02:43)
Yeah, yeah, great to be here. Thank you so much for having me on.Michelle Kesil (02:46)
Of course. So for those who are not familiar with you and your world yet, can you share what your main focus is?Oliver Wright (02:53)
The main focus of our predictive analyzer, which we call our home seller’s dream, is to help people who are looking to not only get into real estate investing and also seasoned investors be able to analyze their deals faster and be able to predict better what the outcome of that deal will be. The predictive analyzer goes into quite a few different arenas when looking at a deal.But basically at the end of the day, once you put the information in and that you’re looking to process, it’ll look it over and give you a grading scale on if it’s a good deal, hey, stop, get some more information or hey, this is a bad deal, you need to kill this or at least get, you know, look out for what you’re running into. So we’re really happy with the development of it. And that’s what we’re looking to get out there in the market and help people with.
Michelle Kesil (03:47)
Awesome. And how did this idea come about for you?Oliver Wright (03:52)
Yeah. So again, being a real estate investor, maybe you’ve talked a little beforehand, but I’ve been in the industry for 22 years now and I just, just actually entered into a deal where I bought several parcels of land. We’re going to do some building on it and rental a lot of hiccups along the way. Not that it’s anything that would kill going forward, butIt definitely was things that I wasn’t expecting. I typically done more on purchasing real estate and renting them out, things of that nature. That was really more of the arena I was in, but I wanted to get into developing as well. So it was a learning process and we thought that we could develop something that would help people understand what they’re getting into without having to go through that learning process, right? If you can have the experience of someone else, tell you what’s coming before you.
you can make better decisions. So with the development of AI, which has come upon us, I mean, just so quickly, right? I mean, the other day it wasn’t here and all of sudden it’s all you hear about. With the development of AI, we’ve been able put together this predictive analyzer, which we call our wholesaler’s dream. And it can certainly help people analyze their deals better. And what used to take maybe weeks, a week or two to kind of think through, you can get in minutes.
Michelle Kesil (05:10)
Awesome. And so what exactly is it looking at for the deals in order to get the right criteria?Oliver Wright (05:16)
Right. So, I mean, you’ll get a lot, ⁓ I’ve just thought the address, ⁓ when you put that in, it will look at the area, it’s going to look at sales for the area. It’ll look at ⁓ square footage and all that kind of different, those kinds of different things, ⁓ square foot per, I’m sorry, price per square foot ⁓ of land, that kind of a thing. So you’ll get a lot just off of that, but you can also upload documentation to the analyzer.⁓ again, the deal that I’m in right now, that we pretty much finished with, but I went back and I put the information in and I was really pleasantly surprised that that’s kind of what we decided to take this forward to, to mark and offer to other people about the information that I was able to get. I mean, it really broke down what we were going to run into the kind of things that we had to walk through the pitfalls and the things we need to look out for and had already been through it. So I knew that it really worked. So we put that in.
⁓ and the funny thing is it kind of said, no, said, don’t, don’t do this deal right now. ⁓ and, as I put more information in there, like the CCRs, ⁓ the, the county covenants and restrictions, ⁓ I was able to put the, ⁓ contract in that we put together for the actual structure itself, put that in and then it said, okay, now that I have more information, ⁓ this looks a little bit better, for you and you’re not getting a great deal. You’re getting an okay deal, which.
made me feel a little better. ⁓ at the end of the day though, it, kicked out to us, what it thought we would be able to sell the property for. And again, very pleasantly surprised. We actually just went under contract on that home for about $5,000 less than anticipated, but man, it was pretty spot on.
Michelle Kesil (07:48)
Yeah. And so is this available for all investors, like nationwide?Oliver Wright (07:54)
Yeah, yeah, we have it right now at a partnership with ⁓ Panko. ⁓ We offer it on Beacons and it is available to purchase online. And honestly, when we looked at this, ⁓ we ran it through ⁓ a couple of other programs that we have, and it suggested that we would go to large scale wholesale firms and ⁓ different kinds of ⁓ investment firms with this.The sell it for 20, $30,000. said, that seems a little over the top. So we’re not offering for 20, $30,000, a lot more cost effective than that. Cause again, we want to get to those people who are thinking about putting their foot in and sticking their toe into a real estate investment. last thing they want to do is buy something for 20 grand if they’re going to go buy a house for $200,000. Right? So, no, we were offering it for 1500 right now on beacons and I can get you guys that information.
If you have more questions, of course, I have an email phone number, whatever you need, and we can talk a little bit more about the about the program.
Michelle Kesil (08:55)
Yeah, awesome. And so what would you say differentiates this platform from others that are out there?Oliver Wright (09:02)
quite honestly, I haven’t seen a whole lot out there that would be comparable, ⁓ to the, ⁓ wholesaler’s dream that we have. Not saying there isn’t something, but it’s to, me, it’s a lot more comprehensive than if you went to, ⁓ just your ordinary AI out there, put the address in or whatever. It’s not giving you that rating scale. It’s not breaking down some of those again, challenges or struggles that you may run into. And it’s certainly not going to.I would say predict what you’d be able to really realistically sell it for because it doesn’t have all the components that it needs. We had to develop this for quite some time with Canco to come up with the results we wanted. So I was going to give you a step above the competition. And again, if you’re a seasoned investor, it’s going to save you time. You’ve been through this already, but you know, and you know the steps to take, but this will save you time. If you’re a brand new.
It’s going to save you time and a lot of money. Good mistakes.
Michelle Kesil (10:37)
Yeah, absolutely. And so what do you feel are some of the main keys that maybe this platform does or just other aspects of your real estate business that have made the biggest difference in your own growth?Oliver Wright (10:51)
just this experience. ⁓ and as explained earlier, I’ve been in the industry now for, for 22 years. ⁓ one way or another, different facets started off again, ⁓ as a real estate agent, I was in college actually quickly find out, found out I didn’t quite quite like that. ⁓ it went into, ⁓ insurance and financial, ⁓ selling, ⁓ different kinds of insurances.But then I moved over to the mortgage industry, which I’ve been for the last 13 years. having that experience and seeing that ⁓ different avenues and different ways of looking at the real estate industry from different ⁓ vantage points, it’s given me lot of experience to kind of know how to navigate real estate investing. But again, nothing trumps going through it and seeing it yourself. So once again, this can help.
give you a leg up with if you don’t have experience, you don’t have to run some of those things. As far as growth is concerned, you’re looking at a market right now that’s very, very, it’s unpredictable. ⁓ A lot of people right now are kind of sitting back and waiting to see what happens. lot of your seasoned investors are also sitting back waiting to see what happens. ⁓ But again, if this is something that you think is gonna be something that you wanna get into,
having as many tools as possible is going to be beneficial.
Michelle Kesil (12:14)
Yeah, absolutely. All of the tools that you can gather are going to be supportive. And what advice would you give to an investor that’s maybe earlier on in their business or just looking to get started?Oliver Wright (12:28)
before this too, I would say I would would have said, take your time in, in review and take your time and understand, the markets that you’re, you’re getting into. ⁓ I can give you a real world example with this particular process. have one right now. we purchased the land to me for the real estate environment was vastly different. It took about a year between purchasing the land, ⁓getting the ⁓ build custom builder out there, doing everything, putting the home up and all that great stuff. It took about a year in between the time that we went forward with the deal and finished product where we can actually take this and go sell it. Things had changed pretty drastically. ⁓ So looking forward at what may be coming down the pipeline, looking forward at the economy, really paying attention to ⁓
The whispers from the bushes, so to speak, will be beneficial for anyone looking to get into investing. Also, you want to have some backstop. Things sometimes don’t go the way that you think they’re going to go. And if you’re down to the penny on your investment, things go sideways or something is delayed or whatever, it can really put you in a bad position. So definitely be prepared on that end as well.
Michelle Kesil (13:47)
Yeah, absolutely. And what would you say is like a challenge or a hardship that you’ve experienced and overcome on your journey?Oliver Wright (13:55)
being an investor, ⁓ one of the first properties that I purchased, ⁓ needed a lot of work, needed a lot of work. ⁓ again, ⁓ just kind of knowing and analyzing what you’re getting into and having all the information you possibly can, ⁓ will be, is gonna, is gonna set you apart and put you in a much better position than, ⁓ kind of going in.Just because you’re excited about being an investor. I have my money set to the side. I can move forward now I’m ready to go. Uh, but you really need to take your time and understand. that property I purchased, we ended up having to put some around 15 to $20,000 and before we were really ready to go and get rented out. Um, and it’s just something that, uh, I had to learn. Uh, don’t, don’t purchase homes of a certain age, right? Uh, make sure you get that extra inspection done, those kinds of things.
So you just, just have to have some of those experiences, but it’s always best to take a, take a second and take a beat and understand what you’re really looking at. Again, that’s kind of what this whole thing goes towards. This tool helps you out with at least a portion of that. So you can not have to make those mistakes.
Michelle Kesil (15:48)
Yeah, definitely that is important. And what are you most focused on solving or scaling next in your business? ⁓Oliver Wright (15:57)
⁓ We’re probably going to continue to look at ⁓ going to the development side. We also thinking about getting into more fix and flips ⁓ than just getting homes and renting them out. ⁓ will see ⁓ a strong, hopefully we’ll see a strong number of people coming into the market who are first time home buyers very soon. All right, now you’re a home buyer who already owns a home, not a first time home buyer.A lot of those people got the advantage of this really low interest rates four or five years ago. They’re sitting at interest rates lower than 4 % right now. So a lot of those folks are not getting back into the real estate market to buy or even refinance. So you’re seeing a lot of stagnant right now on that end. But so what you’ll see is a large number, a lot of the real estate is going to be with first time homebuyers. So what we’re thinking is offering
lower priced homes going into a home that you can maybe purchase for 50 or $60,000, pay up another $45,000 into it, and then sell to a first time home buyer. So that’s probably the way that we’re going to be looking to go. Again, this program that we have is pretty good. Analyzer can help out with those kinds of things as well. You can look at the entire deal. So got to put it in there first before moving forward.
Michelle Kesil (17:17)
Yeah, amazing. That’s exciting to have those opportunities lined up.Oliver Wright (17:22)
Yes, ma’am.Michelle Kesil (17:22)
Awesome. And so what would you say like, as far as your platform goes, like how are you looking to scale that as well?Oliver Wright (17:33)
So yeah, we’re looking to again offer it to those to those ⁓ people who are looking to get into real estate investing again also Seasonal estate investors will take a look as we go. We’re going to continue to add more features ⁓ to the to the suit to the predictive analyzer As we go ⁓ things that we can add in that will help once again avoid some of those pitfalls it’s possible that we canscale it little bit more, ⁓ add some things that would help larger firms as well. It’s something that we may possibly take more commercial, so to speak, ⁓ to your larger real estate firms, investment firms, ⁓ some of your closing attorneys, ⁓ they will like something like this as well. ⁓ So it’s possible that we may go that way with it. But right now we’re probably still looking just to get a foothold in the market with this predictive analyzer with the wholesalers dream.
and more with people who are starting out or again, wanting to save time in the different real estate investments they’ve been looking at.
Michelle Kesil (18:40)
Yeah, awesome. And it’s available in all 50 states.Oliver Wright (18:43)
Yeah, yeah, you can buy it. And now, of course, understand that state laws is by no means it’s some we’re not lawyers, right? State laws change from one place to another. So you’ll want to always understand your local market. But this can analyze anything that you put into it anywhere. So any deal could be an international deal. That’s also another arena we’re looking to possibly get into.Michelle Kesil (18:51)
Sure.Oliver Wright (19:10)
Too deep into that, but there’s going to be a lot of different opportunities in different countries. If you look into the news right now, you’ll see a lot of talk about Africa and some of the more developing countries. They’re going to start tapping into those resources and those that land there will start to become very valuable. So especially if you’re looking at something that you haven’t seen yet, you’re going to want some help on is this something you should really, really be ⁓ putting.putting your assets and your time into. So ⁓ it’s something that think that could be beneficial for anybody, anywhere.
Michelle Kesil (19:47)
Amazing. What an exciting opportunity that you have created to support people.Oliver Wright (19:52)
Yes, ma’am.Michelle Kesil (19:52)
Awesome. So before we wrap up here, if someone wants to reach out, learn more, be updated with everything that you’re creating and your platform as well, where can people find you and connect with you?Oliver Wright (20:06)
Yeah, yeah, you can reach us email that email is L as in Larry right? Wright @firstcreationllc.com That is our email you can visit us online as well at firstcreationllc.com and you can find the bot information on that would be at beacons ⁓ One second here. I to get that information up for youbeacons.ai, beacons.ai/kryptokhari who is our partner. That’s K-R-Y-P-T-O-K-H-A-R-I beacons.ai/kryptokhari and that’s where you can purchase the predictive engine.
Michelle Kesil (20:56)
Perfect, well appreciate your time, your story, your perspective. Thank you for being here.Oliver Wright (21:01)
Yes, thank you guys so much for having me. I do appreciate it.Michelle Kesil (21:04)
course. And for the listeners tuning into the show, if you got value, make sure you have subscribed. We’ve got more conversations with operators like Oliver, who are building real businesses and we’ll see you on the next episode.
