Proptech Firm Introduces AI-Enabled Property Sourcing

Backflip, a Dallas-based real estate and fintech platform, has come out with a feature that uses AI to provide investors with pre-analysed deals

Dallas-based Backflip, an all-in-one real estate and fintech platform for fix-and-flip investors, has launched My Leads, an AI-enabled property sourcing feature that leverages artificial intelligence to act as a deal analysis assistant. It detects, parses, and comps while alerting users automatically to the most attractive potential investment properties available to them, whether the properties are on-market or off-market.

“The integration of AI technology, when applied thoughtfully and with purpose, has potential to be the catalytic force that reignites the proptech market,” CEO and co-founder Josh Ernst said in a statement. “As AI assumes an increasingly vital role in our lives, it is imperative that individual real estate investors—not just institutions—remain at the forefront of leveraging the newest and best technologies.

Ernst added, “Through My Leads, we have harnessed AI’s capabilities to quickly provide investors with pre-analysed deals for them to assess and ultimately decide to purchase or not. It’s not only a tool that equips our members with a comprehensive array of data, but also enables them to navigate the competitive and volatile real estate landscape with confidence as they scale their businesses.”

The company said that real estate investors must be fully equipped to navigate the complexities of the fast-paced housing market, including the ability to move quickly on good property deals before others do. Investors often source for lucrative deals via email distribution lists, which is a time-consuming, inefficient, and manual process. Hence, My Leads addresses that “burdensome process” by providing real estate investors with an AI-powered assistant to locate the best prospective property deals from their inbox instantly. The company further added that active real estate investors using the beta of My Leads are experiencing 10 hours or more time savings per week.

Expanded to 41 new US markets, Backflip said that My Leads builds upon its current suite of advanced algorithms that provides investors with immediate access to comprehensive data and analyses they need to accurately value a property. That includes As-Is valuation, after-repair value, and comparable properties. “We’ve experienced tremendous growth since launching in Texas in 2021,” Ernst said at the time. “We’re thrilled to expand our real estate technology and financial services nearly nationwide, so every real estate entrepreneur has access to what they need to up-level their business operations and contribute to a healthier housing market.”