Analyze Any Real Estate Deal Instantly With AI, Appraisals and Personalized Financing

Boris Sanchez (00:00)
So it’s got a lot of unique features. One of them, one of the coolest technologies that we made is instant appraisal technology. So for both residential and commercial, it pulls up both as-is and after-repair values on any property with an actual appraisal report. You know, just, you know, the the Fannie Mae 1004 form, everybody’s seen it. It actually pulls it up and it completely fills it out. In a commercial report, it’s a seventy-nine to eighty-page report full of facts, demographics, rent comps, and all that. It pulls all of that instantaneously.

Joseph Crooms (02:10)
Hey everyone. Welcome to Investor Fuel Real Estate Pros Podcast. Today we have someone I’ve been looking at… I’m your host, Joseph Crooms. I’m joined by someone I’ve been looking to chat with. His name is Boris Sanchez. He’s been making some serious moves in a very… he he’s been in real estate for almost an eternity, he’s been here for a while. But he’s talking… he’s gonna talk today about how he has solutions for real estate people. So hey, Boris, glad to have you here. Say hello to everybody.

Boris Sanchez (02:46)
Thank you so much. I appreciate it. Thanks for the opportunity to be on your podcast.

Joseph Crooms (02:50)
Thank you, Boris. I think our listeners are going to take something away from how you’re approaching business and how you po— and and your niche in the real estate industry. So let’s dive into it this way: what is the niche?

Boris Sanchez (03:05)
The niche is obviously real estate investments. We’ve provided a technology that solves a myriad of issues for real estate investors, of both beginning and experienced.

Joseph Crooms (03:19)
When you say from the beginning and… are you talking about newcomers into real estate? So how do you help the newcomer?

Boris Sanchez (03:25)
Correct. Yes. We help them understand, we help them personalize. So we help… we are rolling out in our app several features that make it easy for a real estate investor, especially beginners, to make a decision on whether or not to buy that specific type of real estate as well as personalize their financing. So we provide demographics, rentability, sales comps, and instant appraisal on the property. Neighborhood demographics such as crime, income reports, familial reports, school reports, and as well as personalize over five thousand lenders nationwide and their lending products to the users’ financials. And so you can do kind of like a… you can think about it as a Expedia, but for financing and for pro— for real estate, where you can browse the right loan program for you and for your investment.

Joseph Crooms (04:26)
Your experience, Boris, was it in flipping homes, or commercial, or residential, or both? Can you elaborate on that a little bit?

Boris Sanchez (04:38)
Sure, I have sixteen years in the business. I started in residential and then gravitated towards commercial. In 2020, I had over six hundred and fifty units of multifamily and self-storage and a million square feet of rentable space. And so, yeah, in my career, throughout my career, I’ve I’ve owned over twenty-five hundred units myself, mostly of commercial real estate.

Joseph Crooms (05:02)
When talked about capital now, what is the capital challenge that is it for your new company ready, or or what is your concern about that?

Boris Sanchez (05:14)
Well, yeah, I mean, obviously every startup has capital concerns, right? We’re all trying to put a little stake out there of ourselves, or slice of the of the world, if you will. So yeah, I mean, we want to make sure to capture as much market as we can with this very breakthrough technology that we’ve made. And so capital would be greatly appreciated and go towards marketing and operations.

Joseph Crooms (05:40)
So first of all, in addition to the other questions asked, for people who may not be familiar with ro— with your world, give us the short version. What’s the main focus these days, and what markets are you operating in?

Boris Sanchez (06:41)
So we will operate nationwide day one. We are actually launching this Friday, depending on when the user sees it, this is Friday, July thirty-first. And so if if you’re watching past that date, please go to the Apple Store and download the Reidy app. It is a nationwide platform where you can pull up instant appraisal reports on commercial and residential properties. And again, with all the demographics, all the studies, rentability, rent comps, sales comps… everything that you could possibly want to make a decision on the property as well as personalized financing, right? All categorized from lowest interest rate option, lowest monthly payment option, lowest down payment option, and and stuff like that. And so, yeah, we definitely wanna hit just the investor market, right? This is not for homeowners, but rather real estate investors across the nation. We’re starting pretty strong here in Houston, but we will be nationwide day one.

Joseph Crooms (07:39)
You still invest in yourself.

Boris Sanchez (07:41)
Yes, I am. Mm-hmm. I have real— I have obviously… well, investing in technology, but as yes, investing in properties as well. I have six different apartment complexes now and some residential properties as well.

Joseph Crooms (07:57)
Are you still into the commercial in also, Boris?

Boris Sanchez (07:59)
Yeah, yeah, apartment complexes. I have close to two hundred units in as of as far as apartment complexes, and I have five different homes.

Joseph Crooms (08:10)
So I can see how you’re bracing up your business. Can you give us a little peek into th— this AI… I I I I assume it’s AI because I think… Yeah. So what what is the unique feature of this?

Boris Sanchez (08:20)
It is AI and ML, yeah. So it’s got a lot of unique features. One of them, one of the coolest technologies that we made is instant appraisal technology. So for both residential and commercial, it pulls up both as-is and after-repair values on any property with an actual appraisal report. You know, just, you know, the the Fannie Mae 1004 form, everybody’s seen it. It actually pulls it up and it completely fills it out. In a commercial report, it’s a seventy-nine to eighty-page report full of facts, demographics, rent comps, and all that. It pulls all of that instantaneously.

And so we also developed a smart search technology that allows the user to prompt search. That means just like Chat GPT, you would search using prompts, whether you want a any kind of metric, cash-on-cash, profitability, cash flow, demographic, any crime reports, any and anything that you want that you make a decision on a property, you can search for it. Such as, let’s say you want to find a property in Southwest Philadelphia where you can make a hundred thousand dollars in profit or in cash flow that you know has less than a fifteen percent crime ratio in a mostly a low-income or high-income area. You know, whatever prompt that you want to use and in whatever way you want to use it, you actually will do that in in in a Reidy… in a Reidy app.

Joseph Crooms (09:59)
Boris, are you s— marketing this a la carte or you can also get the whole package? How are you doing it?

Boris Sanchez (10:07)
So in order to pull up any property reports nationwide, we do have some subscriptions. That starts at thirty-five dollars a month, so it’s very cheap. And depending on how many properties you pull up, obviously the more credits you use, the more properties you will need… you can pull up. But our marketplace, that means that our listings we will have listed on our on our on our app, will have all of this data: the instant appraisal, the analysis, the the strategy analysis. It’ll actually even tell you and advise you on what’s the best strategy to take on a any given property, whether that is buy and hold, buy and flip, rent per room, rent for Airbnb, buy for owner financing. So different strategies are actually weighed according to facts and, you know, on on the using the very best data that is out there on the market. So that will have a subscription… but I’m sorry, that will be in our marketplace. But if you want to pull it up on any property nationwide, you’ll have to use our subscription log.

Joseph Crooms (11:46)
Understood. And so d— is there a another level of subscription that you can purchase?

Boris Sanchez (11:56)
Yeah, so the base subscription is… it’s actually seventy-nine dollars, but for the… for our launch period, it is discounted fifty percent. And you can pull up, I think it buys eighty credits, which can buy you two commercial reports and two residential reports, or eight residential reports. So you use thirty for commercial and ten for residential. And at our next level will be a hundred and forty-nine dollars, again, discounted fifty percent, so it’ll like seventy-nine dollars. It’ll buy you two hundred credits. And our next level above that is two ninety-nine, discounted fifty percent, and that will buy you four hundred credits a month.

Joseph Crooms (12:39)
Boris, how long are you running this promotion?

Boris Sanchez (12:42)
Since, you know, for our launch period, I would say a few months.

Joseph Crooms (12:47)
Right. All right. So, you know, I I I know this, especially launching something new, it it can be very… it can be very stressful. Yeah. What’s the key? What do you think the key is that’s gonna keep your machine running?

Boris Sanchez (13:09)
The key is obviously users and word of mouth. Hopefully it does, you know, what it does help people. I know it can help people, but hopefully people see it that way, in in a way that it helps them. And so, you know, adoption, user adoption is always great. The fact that people can use it for, you know, their own deals… they can actually tell us about the deal that they have on the table and have us run our deal engine, our loan engine for it. So we can provide up to two hundred loan options available on their deal. You don’t have to buy one of ours, you don’t have to have a subscription—that’s completely done for free. We get paid if you select one of the loans, and so that’s how people, you know, are able to use it and and help their business and and make them a lot of money, of course.

Joseph Crooms (13:58)
Boris, sort of break that down into layman terms. So they can… it’s, you said they can run it into a f— this is a financial piece now, right? Am I correct?

Boris Sanchez (14:10)
It’s a feature within within the app. So what they can do is, let me say they have a property that they are wanting to buy, but they’re having a hard time finding financing, or just, you know, they’ve just started and they want, you know, to have the best financing terms out there. All they have to do is download the app Reidy, obviously log in, it’s free, tell us about the property that you’re trying to buy, you know, the price, the rehab, all that, and then it’ll get personalized loans on that deal, on their financials, and so ready-to-apply loans.

Joseph Crooms (14:47)
Thank you for sharing that. Now every operator I know has had a moment where things got real, Boris. You know, maybe a deal that went sideways or a time they had to pivot fast. You mind sharing one of those with us?

Boris Sanchez (15:01)
Yeah, I have plenty of deals that have gone sideways. One that happened in 2016: it was a twelve-unit apartment complex that I had bought for three hundred and fifty thousand, but then I had a myriad of problems happen to it. I had a flood without any insurance, because my insurance company had lapsed the coverage period and they didn’t… they didn’t insure it in time. I had a building burn down. I had bad contractors. I had people going by stealing materials. I had it for an initial renovation budget of three hundred thousand dollars; we ended up spending nine hundred and fifty thousand dollars on this project. And thankfully, we were still able to sell it because we found a way to master-lease the property. But it could have… it could have gone sideways really quickly if we would have just kind of not been creative and rented it per unit instead. It wouldn’t have the valuation it did when we when we had time to sell it.

Joseph Crooms (16:52)
Thanks for sharing that, man. That’s the kind of stuff people don’t talk about enough. And honestly, what separates the folks who just dabble from the lungs… or the ones who sorta stay in the game long term? Talk about what brought this AI revolution to the fruition.

Boris Sanchez (17:13)
I would say the opportunity window is there to to have a unique solution and being confident enough in myself to say, “You know what? I’ve taught hundreds of students how to invest in residential and commercial real estate. I’ve been in the trenches. I know what it’s like to be out there in the street looking for deals, renovating deals, getting screwed by contractors, getting screwed by lenders, and not being creative enough, not considering every engine, every every engine and every strategy available to me on a certain property.” That’s what led me to actually have this piece of of of software, right, and how to, you know, and make it from scratch with obviously the help of my dev team, is how do I provide that solution, or how how do I provide a solution for all these problems that I’ve seen, and how do I make it apply to, you know, all of the nation, and maybe one day the world? And so this app was built especially to be scalable. This app was meant to be used nationwide and to solve all of the issues from not only my perspective, but from a perspective of my students and clients as well.

Joseph Crooms (18:31)
Boris, where’s your next real goal?

Boris Sanchez (18:34)
My next real goal would be to scale this to a hundred thousand users and have a million transactions done with the app.

Joseph Crooms (18:44)
Big, especially in today when you’re, you know, you got things ready all up and and it’s sorta the next move can either compound things or create chaos depending on how you play it. And I believe that you’re gonna play it really smart. Now I know a lot of people listening are are either early in their journey, Boris, or leveling up. I think they’ll benefit from hearing this. When it comes to building relationships and growing your network, what’s made the biggest difference for you?

Boris Sanchez (19:15)
I would say definitely the power of social media has really revolutionized marketing and networking. I remember back after COVID, we were all so anxious to get to know others like us and other investors in the market, we had a real estate networking event every week. But the problem with networking is that sometimes you only get stuck talking to a few or a handful of people for the night. And so you’re kinda chancing that the people that you met, first of all, will be what you need, and second of all, will remain in contact. And so I think social media and social media groups have solved a lot of that where I’m able to immediately put up a need: “This is what I need, this is what I’m looking for,” or “This is what I have to offer.” And folks looking for that, you know, will actually connect and, you know, speak just just to that fact. So… but I would still think both avenues, right? So I’ve made some great business from meeting people in networking events and also social media, and so I wouldn’t choose one or the other. I think both are the correct way to go.

Joseph Crooms (20:28)
You can’t fake that. Relationships are everything in the space. So, before we wrap up, if someone wanted to reach out to you to connect with you, maybe collaborate and learn more about what you’re doing, what’s the best way to reach you, Boris?

Boris Sanchez (20:43)
Yeah, so that’s great. My email is [email protected]. My email is also listed on our website, Reidy.ai, it’s right behind me. And yeah, please reach out to me. Let me know what you think of the app. Let me know if if you think we can adapt any feature that you’re looking for. I’m always looking for feedback and always looking to adapt new things into our app and help as many people as I can.

Joseph Crooms (21:13)
You know, Boris, you know somebody was looking for a pen or trying to g— g— find something to jot this down. So if you don’t mind, repeat it one more time for our listening audience.

Boris Sanchez (21:22)
No problem. So my email is Boris, B-O-R-I-S, at Reidy, R-E-I-D-Y, dot AI. Again, just go to Reidy.ai and also your Apple Store and download the Reidy app.

Joseph Crooms (21:40)
Perfect. Well, listen, I appreciate your time, your story, your new business adventure, and I I and I believe that you’re gonna do well. We need more people in this space who are doing the right thing. Thanks again for being here, Boris. It means a lot.

Boris Sanchez (21:54)
Thank you, Joseph. I appreciate it. Yeah, I’m glad to be here.

Joseph Crooms (21:58)
Thank you so very much. And for those of you tuning in, I know you got some value for making… from this from Boris Sanchez. He’s talking about Reidy.ai. Look him up. We got more conversation with operators just like Boris, or people who are out there doing really good business, real business, but also helping both the business world and those that are looking to invest. We’ll see you on our next episode of what? Investor Fuel Real Estate Pros Podcast. And hey, Boris, tell everybody I’ll see you on the next episode.