Use AI to Optimize Communication In STR Business

00:30:03
https://www.youtube.com/watch?v=sMReR5Cb7tQ

摘要

TLDRIn this episode of the Patrick Real Estate Show, host Patrick Swch welcomes Cole Rubin, the CEO of host AI, an innovative platform geared towards automating messaging in real estate. Cole shares his entrepreneurial journey, including his background in real estate investing and the establishment of host AI. They discuss the evolution of AI in property management, focusing on its potential to streamline communication with guests and stakeholders. Cole highlights the importance of a centralized approach to property management and how host AI aims to redefine support for real estate professionals. The episode also explores the challenges of developing AI, the creation of effective communication workflows, and the future vision for host AI as a leading solution in the real estate industry.

心得

  • 🏡 Host AI revolutionizes real estate communication.
  • 💡 Cole Rubin's journey from real estate investor to tech entrepreneur.
  • 🤖 AI automates guest messaging and property management tasks.
  • 📈 The future of AI in real estate is focused on seamless communication.
  • 🌍 Host AI aims to become the leading support platform for the built world.
  • 🚀 Centralization of real estate communications enhances efficiency.
  • 🔍 Challenges in AI accuracy and classification persist.
  • 📚 Key resources include essays by Paul Graham and videos by Alex Hormozi.
  • 📊 Innovative solutions are needed for real estate finance management.
  • 📞 Future developments will integrate phone and voice AI capabilities.

时间轴

  • 00:00:00 - 00:05:00

    In the introduction to the Patrick Real Estate Show, host Patrick Swich introduces himself as a passionate real estate investor and entrepreneur dedicated to helping others achieve financial freedom. The show features inspiring guests from the real estate industry to share their journeys and successes, setting the stage for insightful discussions on real estate investing.

  • 00:05:00 - 00:10:00

    Patrick welcomes Cole Rubin, the founder and CEO of Host AI, an innovative AI auto messaging platform designed to revolutionize guest messaging in short-term rentals. Cole has extensive experience in real estate, having completed numerous rental deals. Together, they explore AI in real estate and its potential to streamline property management processes.

  • 00:10:00 - 00:15:00

    Cole shares his journey into the real estate space, detailing his early entrepreneurial ventures and how he transitioned into property management following internships in loan underwriting. After successfully flipping a property in Joshua Tree, he decided to fully commit to the real estate industry and later co-founded Host AI to address challenges he encountered managing his own properties.

  • 00:15:00 - 00:20:00

    The conversation shifts to Cole's record-breaking Juniper deal and its significance in the Joshua Tree market. The duo emphasizes the importance of efficient guest communication and how Cole's experience prompted the development of AI solutions designed to handle messaging and property management tasks more effectively, thereby reducing the burden on hosts.

  • 00:20:00 - 00:30:03

    Finally, they discuss Host AI's capabilities and future possibilities, particularly the integration of voice and phone communication and the creation of a comprehensive CRM tailored for real estate. Cole articulates his vision for the platform, aiming to become the leading support system in the real estate industry, enhancing communication, and automating processes to allow property managers to focus on scaling their businesses.

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视频问答

  • What is host AI?

    Host AI is an AI auto messaging platform that automates guest messaging and manages various communications for real estate investors.

  • Who is Cole Rubin?

    Cole Rubin is the CEO and founder of host AI, with experience in real estate property management and investment.

  • How does AI messaging work in host AI?

    Host AI uses AI to draft responses to messages based on a knowledge base, allowing users to approve or edit responses before sending.

  • What industry does host AI serve?

    Host AI primarily serves the real estate industry, focusing on property management and short-term rentals.

  • What was a notable deal by Cole Rubin?

    Cole completed the Juniper deal, which became a record-breaking sale in the Joshua Tree market.

  • How does host AI improve communication for property managers?

    Host AI consolidates communications from guests, homeowners, and maintenance teams into one platform, simplifying management.

  • What is the vision for host AI?

    The vision is to become the leading support platform for the built world, enabling seamless communication across all real estate asset classes.

  • What challenges are present in the AI space?

    AI's accuracy and ability to classify messages accurately are ongoing challenges as the technology continues to evolve.

  • What inspiration does Cole Rubin have in his career?

    Cole draws inspiration from successful entrepreneurs such as Alex Hormozi and essays by Paul Graham.

  • What does the future hold for host AI?

    The future involves expanding the platform's capabilities, focusing on phone and voice AI integration, and targeting real estate enterprises.

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  • 00:00:00
    welcome to the Patrick real estate show
  • 00:00:02
    where we explore the fascinating world
  • 00:00:04
    of real estate investing with your host
  • 00:00:07
    Patrick swch Patrick is a dynamic young
  • 00:00:10
    entrepreneur and an accomplished real
  • 00:00:12
    estate investor who's passionate about
  • 00:00:14
    helping others Achieve Financial Freedom
  • 00:00:17
    each week we sit down with some of the
  • 00:00:19
    most inspiring individuals in the real
  • 00:00:21
    estate industry and delve into their
  • 00:00:23
    personal Journeys Lessons Learned and
  • 00:00:25
    secrets to their success let's dive into
  • 00:00:28
    this week's episode
  • 00:00:31
    my man Cole welcome to the Patrick real
  • 00:00:33
    estate show for the people that don't
  • 00:00:35
    know Cole Rubin is the CEO and founder
  • 00:00:39
    of host AI which is an AI Auto messaging
  • 00:00:43
    platform it does more than just guest
  • 00:00:45
    messaging it does all sorts of messaging
  • 00:00:46
    it's a CRM it's allinclusive product
  • 00:00:49
    it's amazing I actually beta tested it
  • 00:00:51
    I'm just waiting for the hostfully
  • 00:00:53
    integration which they're working on
  • 00:00:55
    actively before I get on board but it's
  • 00:00:58
    been awesome working with him on the
  • 00:01:00
    product I've seen him demo it it's been
  • 00:01:02
    incredible I just wanted to bring him on
  • 00:01:04
    the show to talk all things uh AI
  • 00:01:07
    messaging the future of shortterm modals
  • 00:01:09
    and get to know Cole a little bit more
  • 00:01:11
    uh but Cole is not has a background in
  • 00:01:14
    uh managing his own properties he's done
  • 00:01:16
    around 30 shter rental deals to this day
  • 00:01:20
    either developing or flipping or even
  • 00:01:24
    buy and hold and just burer if if that's
  • 00:01:27
    even a word so Cole's been in this
  • 00:01:30
    industry for a while he saw the need for
  • 00:01:32
    the product he got into YC he built the
  • 00:01:35
    product he's back and flourishing better
  • 00:01:38
    than ever but without further Ado let's
  • 00:01:40
    just welcome Cole to the Pod yeah thanks
  • 00:01:43
    for having me Patrick excited to be here
  • 00:01:45
    I know we've been talking about this for
  • 00:01:46
    a while um super excited to talk to you
  • 00:01:49
    like super uh Tech forward dude running
  • 00:01:53
    a serious management company in the same
  • 00:01:55
    Market I was doing deals in so happy to
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    talk about Jos tree if we want to get
  • 00:01:59
    into that as well
  • 00:02:00
    yeah no that's the one thing that we
  • 00:02:02
    have in common is we met through he's
  • 00:02:04
    doing a lot of developments in Josh Tre
  • 00:02:06
    and of course like our portfolio is in
  • 00:02:07
    joshu tre so how we cross paths but I
  • 00:02:10
    feel like we've gotten into knowing each
  • 00:02:12
    other a lot better we became good
  • 00:02:13
    friends and it's been awesome just
  • 00:02:14
    seeing a growth with everything you're
  • 00:02:16
    doing man we both young Hustlers and so
  • 00:02:18
    that's what we have in common you're
  • 00:02:19
    what 26 Now 26 26 almost 25 for a few
  • 00:02:24
    yeah 26 next year yep dang let's get it
  • 00:02:27
    without further Ado man how did you even
  • 00:02:29
    get into this space like what what were
  • 00:02:31
    you doing what was Cole doing before he
  • 00:02:32
    even got into shter rals mhm so started
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    off just always been like
  • 00:02:38
    entrepreneurial person Drop Shipping
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    stuff in high school reselling stuff on
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    eBay in college really found my groove
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    in real estate had some internships
  • 00:02:47
    doing loan underwriting so I was seeing
  • 00:02:49
    like how these flippers were getting
  • 00:02:51
    their deals funded and I was like oh
  • 00:02:52
    like it's really like the asset that's
  • 00:02:54
    qualifying for them the qualifying them
  • 00:02:56
    for the deal like they don't have these
  • 00:02:58
    crazy bank accounts like I could see how
  • 00:03:00
    you could go flip a house with not a
  • 00:03:02
    ridiculous money in the
  • 00:03:03
    bank Flash Forward Co was looking to go
  • 00:03:07
    somewhere like local with my friends I
  • 00:03:09
    was at school at Chapman University in
  • 00:03:11
    Orange County we wanted to drive up to
  • 00:03:13
    JW tree for weekend I was like look at
  • 00:03:15
    the price I'm like this is like really
  • 00:03:17
    expensive for a weekend and I know these
  • 00:03:18
    houses out here can't be that expensive
  • 00:03:21
    look on Zillow did like quick back of
  • 00:03:23
    the napk math I'm like oh this makes
  • 00:03:25
    sense then for a year of thinking about
  • 00:03:27
    it finally pulled the trigger on my
  • 00:03:29
    first deal like the plan was like I I
  • 00:03:32
    graduate college I have like my one-year
  • 00:03:34
    B&B I get a job and this is like my
  • 00:03:37
    passive income it turned into being like
  • 00:03:40
    an accidentally super lucrative flip
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    deal I flipped it had some money had
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    some resources to go do three more deals
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    did those three did well crushed it kept
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    snowballing eventually got to the point
  • 00:03:53
    where I quit the job I had out of
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    college I was a analyst for a private
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    Equity Group buy an apartment build
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    buildings quit that went fulltime on on
  • 00:04:02
    Equity Group was my development
  • 00:04:04
    management company did 31 deals and then
  • 00:04:07
    suck I wanted to do something that had
  • 00:04:09
    like potential to go bigger was
  • 00:04:11
    infinitely scalable not so Capital
  • 00:04:13
    constrained not so ccal with the market
  • 00:04:16
    I met my co-founder pun and we started
  • 00:04:19
    hacking together on host AI applied to
  • 00:04:21
    YC got in and just taking off from there
  • 00:04:24
    and and we're working on it day in day
  • 00:04:27
    out trying to build a a mass massive
  • 00:04:30
    software
  • 00:04:31
    company that's awesome man I think one
  • 00:04:34
    of the most notable deals that you've
  • 00:04:35
    done was the Juniper deal and I bring
  • 00:04:39
    that deal up because it was a
  • 00:04:41
    record-breaking deal in the Joshua Tree
  • 00:04:43
    Market can you maybe talk a little bit
  • 00:04:45
    about that yeah so that was I bought
  • 00:04:48
    that piece of land for I think it was
  • 00:04:50
    42,000 off market with the proceeds I
  • 00:04:54
    made from my first deal took about a
  • 00:04:56
    year of planning permitting to get it
  • 00:04:59
    ready to build built it in about 10
  • 00:05:02
    months the plan was keep it as sgr that
  • 00:05:04
    was going to be like my baby it was like
  • 00:05:07
    beautiful house four bedroom all with
  • 00:05:09
    onsweet bathrooms all opening up to this
  • 00:05:11
    infinity pool that like spilled over
  • 00:05:13
    into this pickle ball court the teered
  • 00:05:15
    down beautiful house great location
  • 00:05:18
    Justin my buddy let's throw this on the
  • 00:05:20
    market see what happens we listed at
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    like a crazy number and I think it was
  • 00:05:24
    like the first day on the market
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    someone's I want to look at it cuz if G
  • 00:05:28
    gives me an offer I can't say know too
  • 00:05:30
    at the time it was like highest price
  • 00:05:32
    sale for Josh tree flipped it and then
  • 00:05:35
    that was like actually like the first
  • 00:05:37
    weekend I stayed in that house with my
  • 00:05:39
    friends was the day I got into YC like
  • 00:05:41
    all just fell into place finished this
  • 00:05:43
    house flipped it got it off my plate
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    record-breaking number move to San
  • 00:05:48
    Francisco start YC and just focus on
  • 00:05:51
    host ey
  • 00:05:52
    now yeah and I think that was a pivotal
  • 00:05:56
    moment I think in your journey because
  • 00:05:57
    you made really good money on that deal
  • 00:06:00
    and I think that kind of propelled you
  • 00:06:02
    into this world of hey you know what
  • 00:06:04
    this is I'm closing this chapter of my
  • 00:06:07
    book and I'm opening up this new chapter
  • 00:06:09
    and I think from the conversation I had
  • 00:06:11
    with you and one key detail that you I
  • 00:06:13
    don't think you really mentioned is the
  • 00:06:15
    fact that you did self-manage a lot of
  • 00:06:16
    your properties and you were thinking to
  • 00:06:18
    yourself there has to be a better way to
  • 00:06:20
    message guests than having to constantly
  • 00:06:22
    be on call and AI was being coming on
  • 00:06:25
    the scene and you were talking about how
  • 00:06:27
    you can actually utilize AI to be able
  • 00:06:30
    to fully take that off your plate like
  • 00:06:32
    overnight for example who's going to
  • 00:06:33
    message the guest if they need to enter
  • 00:06:36
    the house or whatever the county call if
  • 00:06:38
    if you don't answer within 30 minutes of
  • 00:06:39
    the county who's going to do that so
  • 00:06:41
    it's like thinking about oh somebody
  • 00:06:42
    else can do this for me without having
  • 00:06:44
    it to be a VA without having to pay
  • 00:06:46
    somebody for the whole overnight shift
  • 00:06:48
    you could just have ai respond for that
  • 00:06:50
    specific time that's just such an
  • 00:06:52
    interesting concept but anyways so cool
  • 00:06:56
    you did the deal you closed it now
  • 00:06:58
    you're building this product
  • 00:07:00
    you got into YC at the time when you got
  • 00:07:02
    into YC you already had predict you
  • 00:07:04
    already had Revenue at that time so how
  • 00:07:07
    did you even start getting interest from
  • 00:07:09
    people to utilize your product like when
  • 00:07:11
    you first got started mhm so out of the
  • 00:07:15
    gates it was just Network like people we
  • 00:07:17
    did like first integration with hostway
  • 00:07:19
    we texting people I know use hostway try
  • 00:07:22
    this out a lot of pestering like
  • 00:07:23
    admittedly at the time like the product
  • 00:07:25
    was like miles behind where it's at
  • 00:07:28
    today back then it was is really just
  • 00:07:29
    like a bot to respond to messages it's
  • 00:07:32
    involved this whole platform now you can
  • 00:07:34
    manage your sales leads homeowner
  • 00:07:36
    conversations cleaners maintenance this
  • 00:07:39
    like internal knowledge base that knows
  • 00:07:41
    everything about your company if it's
  • 00:07:42
    like an internal tool and this is the
  • 00:07:44
    brain for the AI but yeah really just
  • 00:07:46
    started out something basic had some
  • 00:07:49
    revenue and we got into YC found the
  • 00:07:51
    initial people just like doing things
  • 00:07:53
    that don't scale like looking up
  • 00:07:55
    websites using hostway finding the owner
  • 00:07:57
    on LinkedIn sending them email message
  • 00:07:59
    just try to get him to use it give us
  • 00:08:02
    feedback and then iterate from there so
  • 00:08:04
    just really just like to get those first
  • 00:08:07
    people just like searching like under
  • 00:08:10
    the couch cushions for them that's great
  • 00:08:12
    and I I think you did mention you went
  • 00:08:14
    to vrma too and and that was like
  • 00:08:16
    instrumental for finding other big
  • 00:08:18
    operators that could utilize it cuz it
  • 00:08:20
    gets pretty hectic once you get into the
  • 00:08:22
    big leagues and you have a lot of
  • 00:08:23
    properties can you maybe talk about
  • 00:08:26
    maybe from a product standpoint how does
  • 00:08:28
    AI messaging work maybe you can talk
  • 00:08:30
    about do you like always have to have it
  • 00:08:33
    on is there a way to approve can you
  • 00:08:35
    maybe talk more about that aspect of
  • 00:08:37
    things so with host a it's totally up to
  • 00:08:41
    the operator how automated or
  • 00:08:44
    unautomated they want host to be so
  • 00:08:46
    right when you connect your PMS it's
  • 00:08:48
    going to be on co-pilot mode co-pilot
  • 00:08:50
    mode we just autodraft a response to
  • 00:08:52
    every message and it's up to you if you
  • 00:08:54
    want to prove it taking it from there we
  • 00:08:57
    can build out we automatically build out
  • 00:08:58
    this knowledge base but we want to get
  • 00:09:00
    your knowledge score up to like around
  • 00:09:02
    60% and then once your knowledge score
  • 00:09:04
    is at 60% we're like okay like this
  • 00:09:06
    knows enough of the basics let's turn on
  • 00:09:08
    the autopilot and when the autopilot is
  • 00:09:10
    on it responds to everything it knows if
  • 00:09:13
    it doesn't know an answer with 100%
  • 00:09:15
    confidence we're going to push it back
  • 00:09:17
    to you we're going to have a draft
  • 00:09:18
    approve dra we're going to have a
  • 00:09:20
    message drafted we're not going to send
  • 00:09:22
    it until you approve it if we're not
  • 00:09:23
    100% confident in the answer and there's
  • 00:09:27
    part two to the autopilot which is
  • 00:09:28
    conversation tax so there could be some
  • 00:09:31
    instances where we know with 100%
  • 00:09:34
    certainty the answer we don't want to
  • 00:09:36
    necessarily send it because it's a
  • 00:09:37
    sensitive situation like maybe there's
  • 00:09:40
    an emergency the guest is unhappy they
  • 00:09:42
    want to refund or they're locked out we
  • 00:09:44
    want to flag these instances with a
  • 00:09:46
    specific tag so for example like access
  • 00:09:49
    issue you get a notification hey this
  • 00:09:51
    guest is having an access issue we've
  • 00:09:54
    pre-drafted the message but we haven't
  • 00:09:55
    sent it yet because this is like a
  • 00:09:57
    sensitive situation other cases for this
  • 00:10:00
    tagging could be like pool heating like
  • 00:10:01
    it it's not necessarily urgent but you
  • 00:10:03
    want to be tagged with it so you can
  • 00:10:04
    filter out see all your pool heating
  • 00:10:06
    requests and update the pool accordingly
  • 00:10:08
    just cuz the AI is not at a point yet
  • 00:10:12
    I'd say within less than 16 months it
  • 00:10:14
    will be where it can't actually go heat
  • 00:10:16
    the pool for you if there was like an
  • 00:10:18
    API we could connect to where this
  • 00:10:19
    happened triggers this workflow we could
  • 00:10:21
    do it but today we just like filter it
  • 00:10:23
    give you the insights that certain tags
  • 00:10:25
    are hitting you can filter out and carry
  • 00:10:28
    through the actions you need to take
  • 00:10:29
    take as the
  • 00:10:31
    manager wow I think that's what's
  • 00:10:33
    interesting you're already alluding to
  • 00:10:34
    it but the capability of AI to
  • 00:10:37
    eventually get to the point where it can
  • 00:10:39
    do these menial tasks that like let's
  • 00:10:43
    say not to replace vas per se but the to
  • 00:10:46
    really automate a lot of the processes
  • 00:10:48
    like pool heating but also it could be
  • 00:10:51
    like creating Breezeway tasks or things
  • 00:10:54
    of that nature to start creating a
  • 00:10:56
    workflow because I think what's
  • 00:10:57
    interesting about this space and I think
  • 00:11:00
    you've realized that too and how you're
  • 00:11:02
    pivoting your product is in as a
  • 00:11:05
    shortterm rental operator you're getting
  • 00:11:07
    inquiries all the time there's so much
  • 00:11:09
    communication going on there's the
  • 00:11:11
    owners are communicating with you the
  • 00:11:14
    sometimes there's multiple owners there
  • 00:11:16
    are the stakeholders in terms of the
  • 00:11:19
    vendors you have the guests you have if
  • 00:11:23
    you have 100 properties now multiply
  • 00:11:25
    that and then you have just like all
  • 00:11:28
    these other like the county and every
  • 00:11:30
    there's just so many people that you
  • 00:11:31
    have to communicate to and then you have
  • 00:11:32
    to communicate with your own team and
  • 00:11:34
    because all this communication is
  • 00:11:36
    happening there's no like concrete way
  • 00:11:38
    to organize that communication I we do
  • 00:11:40
    it through slack right now which is
  • 00:11:42
    great in a lot of capacities but what's
  • 00:11:44
    interesting is like communication is the
  • 00:11:46
    first part right and then the second
  • 00:11:48
    part is okay cool now every
  • 00:11:51
    communication Point has a assigned
  • 00:11:54
    either either it's a one-way thing but
  • 00:11:56
    there's a lot of communication that
  • 00:11:58
    becomes a task right for example what a
  • 00:12:02
    pool needs to be heated that's a task
  • 00:12:05
    hey there's an issue with the drywall at
  • 00:12:07
    this property that's a task maybe from a
  • 00:12:09
    cleaner let's say the inspector comes in
  • 00:12:12
    the toilet's broken that's a task a
  • 00:12:14
    plumber can completes a task and they
  • 00:12:16
    message you that's a completion of a
  • 00:12:17
    task right so there's all these
  • 00:12:19
    different aspects that happen and
  • 00:12:22
    there's no concrete way to organize
  • 00:12:23
    those tasks and then assign them to the
  • 00:12:25
    right people so right now the the best
  • 00:12:27
    way to do that is like monday.com maybe
  • 00:12:30
    or a spreadsheet I'm curious what are
  • 00:12:32
    your thoughts on on that kind of space
  • 00:12:35
    yeah so the managers have a lot of
  • 00:12:38
    different stakeholders to manage outside
  • 00:12:40
    just the guest person type which is
  • 00:12:42
    largely like the only conversations that
  • 00:12:44
    are managed through other like AI
  • 00:12:47
    inboxes other PMS inboxes it's just the
  • 00:12:49
    guest but now there's the homeowners
  • 00:12:51
    there's the cleaners the maintenance
  • 00:12:53
    people there's sales like you got to
  • 00:12:55
    acquire more homeowners to scale the
  • 00:12:57
    company manage all these conversations
  • 00:12:59
    like previously all these different
  • 00:13:01
    stakeholder conversations were managed
  • 00:13:03
    in different apps you have like your
  • 00:13:04
    guests and your PMS your homeowners and
  • 00:13:07
    maybe like a shared email account your
  • 00:13:09
    sales leads in this HubSpot CRM and then
  • 00:13:13
    your maintenance you track and and click
  • 00:13:14
    up we have a very flexible data model
  • 00:13:18
    where you can bring all those
  • 00:13:19
    conversations into host AI through
  • 00:13:21
    different inboxes so you have your guest
  • 00:13:23
    inbox your homeowner inbox your cleaner
  • 00:13:25
    inbox and whoever manages those people
  • 00:13:28
    just just gets access to those specific
  • 00:13:30
    inboxes where you can carry out all the
  • 00:13:33
    communications across every channel text
  • 00:13:36
    phone call WhatsApp email the chat
  • 00:13:39
    widget on your website everything
  • 00:13:41
    funnels into the right person and the
  • 00:13:43
    necessary team member on the manager
  • 00:13:45
    team has access so for example like for
  • 00:13:48
    stay you like you could have your guest
  • 00:13:50
    inbox that all only all your support
  • 00:13:52
    agents are in you could have your
  • 00:13:54
    homeowner inbox that like you and your
  • 00:13:56
    account managers are in and then you
  • 00:13:58
    just have like your maintenance inbox
  • 00:13:59
    your contractor inbox the just your
  • 00:14:01
    maintenance manager and maybe you guys
  • 00:14:03
    are in and we there's other apps you
  • 00:14:07
    guys still have to use we know we can't
  • 00:14:09
    own the whole system so we just want to
  • 00:14:12
    make it convenient to trigger workflows
  • 00:14:14
    in other apps from our inbox sidebar so
  • 00:14:17
    like issue comes up with a cleaner we
  • 00:14:18
    need to make a maintenance ticket click
  • 00:14:20
    create a task make the task and we shoot
  • 00:14:23
    that to Breezeway clickup whatever
  • 00:14:25
    external task manager you're using we
  • 00:14:28
    just support push data into so it's
  • 00:14:31
    there and you're not having to like copy
  • 00:14:33
    paste open a new app put it in just
  • 00:14:35
    shoots into where you need it and then
  • 00:14:37
    another comment with the T with slack a
  • 00:14:40
    lot of times like issue comes up copy
  • 00:14:42
    that guest name copy the issue this
  • 00:14:44
    property send it to spe specific slack
  • 00:14:46
    Channel hey team what do we do here with
  • 00:14:48
    host you just go to the notes section
  • 00:14:50
    tag the team M you need to talk to
  • 00:14:52
    triage the issue in the notes and take
  • 00:14:55
    it from there it stays all in one app
  • 00:14:59
    yeah and that's that the centralization
  • 00:15:01
    of that is is huge and I think maybe
  • 00:15:04
    allude to the fact what are you trying
  • 00:15:07
    to really create with Jos like what's
  • 00:15:09
    really the vision here and I know you're
  • 00:15:11
    that kind of was a recent development
  • 00:15:13
    more or less and this is a product
  • 00:15:14
    that's probably evolving a lot and even
  • 00:15:17
    by the time that I post this it's
  • 00:15:19
    November 21st today but by the time I
  • 00:15:21
    post it and by the time that people even
  • 00:15:24
    watch this the product is probably going
  • 00:15:26
    to evolve but I'm assuming there's a
  • 00:15:28
    core mission here that you're trying to
  • 00:15:29
    achieve what is that core Mission M so
  • 00:15:32
    core Mission we're trying to solve is we
  • 00:15:34
    found that Enterprise property managers
  • 00:15:37
    across all asset classes shter rentals
  • 00:15:40
    apartment buildings hotels are using
  • 00:15:43
    incumbent support platforms that do not
  • 00:15:45
    serve the real estate industry very well
  • 00:15:47
    so like Salesforce intercom zenes front
  • 00:15:51
    real estate is like one of the largest
  • 00:15:53
    Industries they all serve but none of
  • 00:15:55
    them do it very well CU they don't have
  • 00:15:57
    the bespoke Integrations to serve these
  • 00:15:59
    people like they don't have access to
  • 00:16:01
    the OTAs the pms's the crms that all
  • 00:16:04
    their leads are in they just display
  • 00:16:07
    inbound conversation and it's up to them
  • 00:16:08
    to hire like an internal CTO to map it
  • 00:16:10
    all to the guest so you have that
  • 00:16:12
    context on the sidebar so where we're
  • 00:16:15
    positioning ourselves as as is the
  • 00:16:18
    support platform support and engagement
  • 00:16:20
    platform for the built world so you'll
  • 00:16:22
    manage all your stakeholders all your
  • 00:16:25
    conversations all your relationships for
  • 00:16:28
    property management through host
  • 00:16:31
    AI got it so it's going to be
  • 00:16:34
    essentially support platform at the end
  • 00:16:35
    of the day but AI is the support it's it
  • 00:16:39
    seems that you guys aren't really as
  • 00:16:41
    focused what I like about and coming
  • 00:16:44
    from a background let me backtrack
  • 00:16:45
    coming from a background of TCH right I
  • 00:16:48
    found myself building an augmented
  • 00:16:51
    reality product and I built a product
  • 00:16:53
    and found a solution for it you see what
  • 00:16:56
    I mean where I built okay this is cool
  • 00:16:58
    technology can we apply it to and yes
  • 00:17:01
    there's a problem there but it wasn't as
  • 00:17:02
    strong of a problem versus I think what
  • 00:17:05
    you're doing which is interesting is yes
  • 00:17:08
    it was stemmed from AI but at the end of
  • 00:17:10
    the day you're using AI as a tool to
  • 00:17:14
    solve the core problem which is support
  • 00:17:17
    at a centralized support at a bigger
  • 00:17:20
    scale for Real Estate Investors or real
  • 00:17:22
    estate industry so it's interesting
  • 00:17:26
    because it's it's like the people that
  • 00:17:29
    focus on the AI and just like work off
  • 00:17:32
    of the AI versus focus on solving the
  • 00:17:35
    actual problem is is it's a different
  • 00:17:38
    ball game so I I really do like that
  • 00:17:41
    aspect of things now let's talk about AI
  • 00:17:45
    in general let's dive into that because
  • 00:17:47
    it's it serves a purpose to enhance
  • 00:17:51
    communication but it's not it's a tool
  • 00:17:54
    right so can you talk a little bit about
  • 00:17:56
    how accurate AI has been how has the the
  • 00:17:59
    growth been where does it pull the
  • 00:18:01
    information from how do you like put it
  • 00:18:04
    together where it knows what it knows
  • 00:18:06
    maybe can you simplify that a little
  • 00:18:08
    bit Yeah so the AI is only as good as
  • 00:18:12
    information it knows so like some of the
  • 00:18:15
    information we can find on the internet
  • 00:18:17
    like we have your property address guest
  • 00:18:20
    asked how far is the closest grocery
  • 00:18:22
    store that's something we can figure out
  • 00:18:24
    but if the guest says hey where is the
  • 00:18:26
    The Cutting Board in the kitchen if
  • 00:18:27
    you've never told us that's not
  • 00:18:29
    something we could accurately respond to
  • 00:18:31
    we're going to flag that as we don't
  • 00:18:33
    know this we don't have enough info to
  • 00:18:35
    answer this we're going to try to answer
  • 00:18:36
    like we come up with an assumption of
  • 00:18:38
    where it could be but we're never going
  • 00:18:40
    to Auto send that unless the manager
  • 00:18:42
    approves it and then when they do
  • 00:18:44
    approve it or they edit the response
  • 00:18:46
    we're going to learn from that we're
  • 00:18:47
    going to pull extrapolate like the
  • 00:18:49
    knowledge they sent in that message out
  • 00:18:52
    until The Cutting Board is in the second
  • 00:18:54
    kitchen the second cupboard on the right
  • 00:18:56
    below the sink and be like add to base
  • 00:18:59
    so as you respond to more we uncover
  • 00:19:01
    more knowledge pull it out and they just
  • 00:19:03
    come into these suggested knowledge
  • 00:19:05
    cards then maybe every week you click
  • 00:19:07
    through add the relevant findings to
  • 00:19:08
    your knowledge base and this knowledge
  • 00:19:10
    base grows over time learns more
  • 00:19:13
    automates more the AI gets smarter
  • 00:19:15
    basically from that and then to create
  • 00:19:18
    the knowledge base yeah you take all the
  • 00:19:20
    like information from your PMs and then
  • 00:19:22
    you can upload external documents so if
  • 00:19:24
    you have a master CSV of all your
  • 00:19:26
    properties you have a guide book you
  • 00:19:29
    have a notion page whatever data it is
  • 00:19:32
    you dump into host a we map it all add
  • 00:19:34
    it to the knowledge base and you're good
  • 00:19:37
    to go from there what are some do you
  • 00:19:40
    have some problems that maybe people
  • 00:19:41
    face with AI is there anything that's
  • 00:19:44
    needs a little bit more growth in the
  • 00:19:45
    space in general CU you guys I'm
  • 00:19:47
    assuming you guys use you guys use the
  • 00:19:48
    same pretty much the same AI as anybody
  • 00:19:51
    else pretty much has access to but what
  • 00:19:54
    Special Touch do you guys put on top of
  • 00:19:56
    that that makes it easier for people to
  • 00:19:59
    utilize the tool there's tons of
  • 00:20:01
    experiments we're doing on top of these
  • 00:20:03
    General Frontier models I the biggest
  • 00:20:06
    thing we're doing is like when a message
  • 00:20:07
    comes in we're like classifying the
  • 00:20:09
    message what is this okay like it's a
  • 00:20:11
    availability question this is the route
  • 00:20:13
    this measage flows down or is this
  • 00:20:15
    message urgent okay this is like an
  • 00:20:17
    access issue like we tag it push down
  • 00:20:19
    this way so like it's a lot of it's not
  • 00:20:21
    just using AI to come up with the answer
  • 00:20:24
    it's using AI to classify the message
  • 00:20:26
    and send it down the right path so it
  • 00:20:29
    gets an accurate
  • 00:20:31
    response got it so it's that's the
  • 00:20:34
    backend work that you do to make that
  • 00:20:36
    process a lot more simplified so that's
  • 00:20:38
    the difference then just hey I can just
  • 00:20:41
    go on chat GPT on the Side Bar and then
  • 00:20:44
    figure it out but at the same time what
  • 00:20:46
    you're saying is that processing of
  • 00:20:48
    these different requests and using that
  • 00:20:52
    data that's that's your special sauce
  • 00:20:55
    now granted okay what do you see in the
  • 00:20:58
    future
  • 00:20:59
    of AI like how do you see that evolving
  • 00:21:02
    what do you suspect is going to happen
  • 00:21:04
    with that technology mhm yes so the
  • 00:21:07
    workflows that these AI agents will be
  • 00:21:10
    able to execute on are just going to
  • 00:21:12
    become a lot more complex and that's why
  • 00:21:15
    we've like really doubled down on
  • 00:21:18
    building the interface that this agent
  • 00:21:21
    lives in like without us owning the full
  • 00:21:24
    inbox infrastructure we're at the mercy
  • 00:21:26
    of someone else's platform like we're
  • 00:21:28
    only able to control like what we get
  • 00:21:31
    access to within an API where if they're
  • 00:21:33
    using our ecosystem we have full control
  • 00:21:36
    of the platform what this looks like in
  • 00:21:38
    the future is within host you'll just
  • 00:21:40
    have different types of Agents like
  • 00:21:42
    you'll have your customer support agent
  • 00:21:43
    you have your sales agent your task
  • 00:21:46
    agent and you just build workflows where
  • 00:21:48
    these agents talk to each other within
  • 00:21:50
    the host ad box over time the UI is just
  • 00:21:54
    like across all apps it's just going to
  • 00:21:55
    get more abstracted away and it's not
  • 00:21:57
    going to be like these beautiful like
  • 00:21:58
    intricate interfaces like Salesforce
  • 00:22:01
    just going to be chat you just chat with
  • 00:22:02
    your data find what you need and you
  • 00:22:04
    build workflows like when this happens
  • 00:22:06
    with the support agent you talk to the
  • 00:22:08
    task agent and execute this workflow
  • 00:22:10
    just over time is like we get AI op
  • 00:22:13
    you're GNA have oh sorry I I was just
  • 00:22:16
    going to say you're going to have ai the
  • 00:22:17
    role is going to be you just prompt the
  • 00:22:19
    AI that's basically the role of the
  • 00:22:21
    human in this case yeah the role of the
  • 00:22:24
    human like the AI has access to like all
  • 00:22:25
    your data all your platforms all your
  • 00:22:27
    channels OTAs and you just build
  • 00:22:30
    workflows that the agents execute on and
  • 00:22:33
    work like the box or the playground that
  • 00:22:36
    these agents live in this is like that's
  • 00:22:39
    AGI
  • 00:22:42
    world yeah okay dang okay that's
  • 00:22:45
    exciting cool just want to know Cole
  • 00:22:48
    with the platform that you're building
  • 00:22:50
    and the support and everything that you
  • 00:22:52
    have going on where are your focus
  • 00:22:56
    points like in your life and in the
  • 00:22:58
    product like where are you trying to
  • 00:22:59
    improve or grow within what you
  • 00:23:03
    currently
  • 00:23:04
    have so I would say the biggest things
  • 00:23:08
    are going to be around the phone product
  • 00:23:11
    like phone is largely siloed in other
  • 00:23:14
    apps right now and phone is generally
  • 00:23:16
    tied to text messaging like you want to
  • 00:23:19
    be doing those on the same number you
  • 00:23:20
    don't want to be like text me on this
  • 00:23:22
    one call me on this one and then
  • 00:23:23
    WhatsApp me on this one we want to have
  • 00:23:25
    one number that you can call text
  • 00:23:27
    WhatsApp on and to do that we need to
  • 00:23:30
    have the platform so phone and voice AI
  • 00:23:34
    is something we're we're really doubling
  • 00:23:36
    down on at the end of this year early
  • 00:23:38
    next year as well as a CRM so like CRM
  • 00:23:42
    is built out on the back end like we're
  • 00:23:43
    mapping all these people to a specific
  • 00:23:46
    person object and you're managing all
  • 00:23:47
    the conversations but for like the sales
  • 00:23:50
    inbox where there's different stages
  • 00:23:52
    within that inbox like lead nurturing
  • 00:23:55
    onboarding closed we want to have the
  • 00:23:58
    inter face to control all those actions
  • 00:24:00
    move the person down the funnel and even
  • 00:24:03
    like with scheduled messages like build
  • 00:24:05
    sales like B2B SAS style nurturing drip
  • 00:24:09
    campaigns for your homeowners based on a
  • 00:24:11
    certain status in the CRM after you just
  • 00:24:13
    talk to this home owner they move into
  • 00:24:15
    like in the into the nurture sequence
  • 00:24:17
    and they're getting like an email once a
  • 00:24:19
    week about like how stay you like is the
  • 00:24:22
    best manager in joser tree crushes the
  • 00:24:25
    competition maybe you're sending them
  • 00:24:26
    some case studies if you couldn't close
  • 00:24:28
    the deal on the phone call then over
  • 00:24:29
    time this like lead is more receptive to
  • 00:24:32
    convert cuz you've been nurturing them
  • 00:24:33
    for the last few
  • 00:24:36
    weeks yeah I'm going to challenge you on
  • 00:24:39
    that point okay for Devil's Advocate on
  • 00:24:42
    that do you think that is deferring or
  • 00:24:45
    going away from the core product that
  • 00:24:47
    you're offering which is a support or
  • 00:24:49
    that aspect of things or do you think
  • 00:24:50
    that is an essential part of that
  • 00:24:53
    process yeah I would say that sales like
  • 00:24:56
    nurturing a sales lead is just a form of
  • 00:24:59
    support and
  • 00:25:02
    engagement got it so you're saying
  • 00:25:04
    that's like the first from an owner
  • 00:25:06
    perspective that's the first touch point
  • 00:25:08
    that they have with the company right
  • 00:25:10
    that's the first time they actually have
  • 00:25:11
    an interaction with the company and the
  • 00:25:14
    first impressions everything and so the
  • 00:25:16
    speed that you can get back to that lead
  • 00:25:18
    is going to be huge in being able to
  • 00:25:20
    convert it and show that you know what
  • 00:25:22
    you're talking about and that's a
  • 00:25:23
    representation of how you're going to
  • 00:25:25
    respond to guests right that's what
  • 00:25:26
    you're getting at yeah like can't do
  • 00:25:28
    sales without communicating to another
  • 00:25:31
    person we want to be the platform that
  • 00:25:34
    you communicate all to all your sales
  • 00:25:35
    leads
  • 00:25:37
    through got it cool man and I do want to
  • 00:25:42
    get into the last three questions for
  • 00:25:45
    you man and we'll wrap this up here the
  • 00:25:48
    first question I have for you is what
  • 00:25:51
    educational resourcer book really helped
  • 00:25:54
    shape your life it could be anything it
  • 00:25:57
    doesn't have to be real estate related
  • 00:26:00
    I
  • 00:26:02
    think most helpful person I listen to is
  • 00:26:05
    probably honestly Alex hor MOSI a lot of
  • 00:26:07
    the Paul Graham essays on my education I
  • 00:26:10
    think learning how to use Excel in
  • 00:26:13
    business is like the most under
  • 00:26:15
    underrated thing ever taking that class
  • 00:26:17
    in college honestly that's probably the
  • 00:26:19
    only class I had to take in college like
  • 00:26:21
    I use something that I took away
  • 00:26:23
    from books I haven't been reading too
  • 00:26:26
    much lately but a lot of Alex for mosy
  • 00:26:29
    videos um and Paul Graham essays would
  • 00:26:32
    be like my go-tos right
  • 00:26:34
    now awesome and what does that focus on
  • 00:26:37
    usually it's like business stuff right
  • 00:26:39
    getting to from a business perspective
  • 00:26:42
    how to grow and scale yeah it like I
  • 00:26:44
    think Paul Graham and Orosi do like a
  • 00:26:46
    good job of talking for a really high
  • 00:26:47
    level like just like you got a couple
  • 00:26:49
    things to focus on don't try to like you
  • 00:26:51
    got to a million in Revenue like don't
  • 00:26:53
    try to go like start some new side
  • 00:26:55
    hustle or side product that you try to
  • 00:26:57
    go to 100 100K it'd probably be a lot
  • 00:27:00
    easier if you like spent all those
  • 00:27:01
    resources you would to start this 100K
  • 00:27:03
    side hustle on getting your $1 million
  • 00:27:06
    business to 3 million and like you're G
  • 00:27:08
    to make a lot more money just stay focus
  • 00:27:11
    on one thing the marginal yeah yeah the
  • 00:27:14
    marginal cost of cool and then second
  • 00:27:18
    question is in a world where let's say
  • 00:27:23
    that you couldn't do an AI product and
  • 00:27:26
    you had to start over and you had to
  • 00:27:27
    build the software company what would
  • 00:27:29
    you do I do a Neo bank for Real
  • 00:27:33
    Estate I think okay
  • 00:27:35
    explain I think like managing like all
  • 00:27:38
    the the accounts for Real Estate is like
  • 00:27:40
    very fragmented the way you like send
  • 00:27:43
    money to different contractor
  • 00:27:44
    stakeholders I think could be improved I
  • 00:27:47
    think like these bank accounts could
  • 00:27:49
    like actually connect to the pms's or
  • 00:27:51
    erps that like your business is running
  • 00:27:53
    on and like
  • 00:27:54
    those items in there like automatically
  • 00:27:57
    categorize your the banking Ledger I
  • 00:27:59
    just think there's a lot of opportunity
  • 00:28:01
    on the real estate banking side it's
  • 00:28:03
    company Baseline out there but I don't
  • 00:28:05
    think they're doing it very well they're
  • 00:28:07
    very focused on like the consumer side
  • 00:28:09
    of real estate no one's doing like
  • 00:28:11
    Enterprise real estate banking too well
  • 00:28:13
    in my
  • 00:28:15
    opinion got it that's sick and then last
  • 00:28:19
    question you did mention what the future
  • 00:28:21
    holds more or less for host AI but I
  • 00:28:24
    wanted to give you another opportunity
  • 00:28:25
    just to elaborate so Cole what does the
  • 00:28:29
    future hold for you and or ji let's just
  • 00:28:33
    elaborate more I know we talked a little
  • 00:28:34
    bit about it but I just want you to dive
  • 00:28:36
    a little bit deeper if that's okay yeah
  • 00:28:38
    future for Cole is I'm living in San
  • 00:28:41
    Francisco fulltime now host is moving to
  • 00:28:44
    a new office in 3 weeks in financial
  • 00:28:48
    district raise some money we're going to
  • 00:28:50
    be hiring a lot more Engineers start
  • 00:28:53
    building out the sales team so future of
  • 00:28:56
    coal is is scaling host in San Francisco
  • 00:28:59
    and future host AI is being that de
  • 00:29:02
    facto support engagement CRM platform
  • 00:29:05
    for the built world for all of real
  • 00:29:07
    estate there's no de facto support
  • 00:29:10
    platform yet and it's the largest asset
  • 00:29:12
    class in the world there's tons of
  • 00:29:15
    support platforms for B2B software
  • 00:29:18
    Ecommerce things like that more digital
  • 00:29:20
    based businesses nothing for the built
  • 00:29:23
    world so that's going to be our Focus
  • 00:29:25
    for the foreseeable future
  • 00:29:29
    awesome man well Cole thanks so much for
  • 00:29:32
    hopping on talking the game speaking
  • 00:29:35
    about the AI industry as a whole I
  • 00:29:39
    appreciate you man of course yeah
  • 00:29:41
    hopefully you have an awesome day man
  • 00:29:43
    yeah you as well thanks for having me
  • 00:29:45
    and we'll talk soon and that's a wrap
  • 00:29:47
    thank you for listening to the Patrick
  • 00:29:49
    real estate show if you found this
  • 00:29:50
    episode helpful please give us a follow
  • 00:29:53
    and leave us a five-star review your
  • 00:29:55
    support truly means a lot and connect
  • 00:29:57
    with with Patrick in the show notes
  • 00:29:59
    below until next time
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