The Impact of AI in the Real Estate Investing Space with Scott Fahl CEO of Privy
Scott Fahl is the founder and CEO of Privy, a real estate software that helps investors find the best deals and evaluate them, all in one place. Scott’s knack for innovation paved the way for Privy and the impact it has made on the industry, and he is with us today to talk about how it all started and where he is today.
Listen to this episode to learn more about the story behind Privy, how Scott’s innovative nature impacted his career and many others’, and how technology can make real estate easier for investors!
Key Talking Points of the Episode
00:00 Introduction
01:40 What was real estate investing like for Scott before 2008?
03:01 What influenced the beginning of Privy?
08:00 Where does Scott’s entrepreneurial spirit and drive come from?
09:39 What is the biggest contributor to Privy’s success and longevity?
11:01 How does Scott lead his team at Privy to success?
15:49 How can you be successful with the technology you’re going to use?
17:54 How important is access to proactive date to Privy’s success?
22:09 Why is proactive data important in the success of real estate investors?
24:17 How is AI impacting the real estate investing space?
27:35 How does customer feedback help Scott and his team improve Privy?
31:29 How does Scott manage nerves and uncertainty about his business?
36:43 What are the biggest deal breakers and deal makers in real estate?
40:11 What new updates are coming to Privy soon?
42:17 What has it been like to innovate a product like Privy?
44:10 What is Scott passionate about outside of real estate?
47:34 How can you learn more about Privy?
Quotables
“When you can start with what everybody is having success with, you could just repeat off of that.”
“That’s the biggest thing – you have to listen to what people are saying and if you give them what they want, they’re gonna be happy. That’s all there is to it.”
“You’re never gonna get it 100% right but if you’re in the 80-90 percentile, push it out because you go back to that, you’re not afraid anymore because you’re trusting people to tell you.”
Links
Website: Privy
Website: RCN Capital
https://www.rcncapital.com/podcast
Instagram: RCN Capital
https://www.instagram.com/rcn_capital/
Website: REI INK