Today on Boomer Living we have a returning guest, Joe Anfuso, CFO of MG Properties Group, responsible for directing the financial management of company operations. He’s also an adjunct professor at the University of San Diego, teaching classes in Commercial Real Estate Finance and Investment. We're excited to catch up and talk about how Big Data and AI data science are being put to use in real estate today, and how his company coped during this last year through the COVID-19 pandemic, and much more...
[00:00] Pre-intro dialogue
[01:59] Introduction
[02:56] How have you been since the last time that we talked around a year ago?
[04:43] What makes MG Properties group stand out from other similar companies in terms of technology use? Do you think MG is leveraging the technology more?
[06:38] How does MG Properties use predictive analytics to measure things like delinquency rates?
[11:15] How accurate are the types of estimations? How much can one trust them without scrutiny?
[12:30] How can big data be used to develop more accurate property valuations?
[13:48] You mentioned predictive analytics. Are you using forecasting and predictive analytics to forecast market trends?
[15:56] Before data science and AI, five years ago, what was the mode of operation at MG Properties?
[17:07] What sorts of trends are you predicting in the post-pandemic world for multifamily?
[18:19] To what extent is MG Properties using Big Data to predict consumer behavior in the real estate market?
[20:04] How do you make sure that you understand the latest and greatest technology and are able to leverage this knowledge, for the company?
[22:28] Are there limitations of AI, Big Data, and predictive analytics in the real estate space?
[23:56] How can you balance relying on these technologies while also looking at them critically to make sure that we're not putting blind faith in them?
[25:41] What has the pandemic taught you about leadership?
[28:14] Do you have anything else that you would like to add?
[31:22] Wrap-up
Joe Anfuso is a 2015 addition to MG Properties Group, responsible for directing the financial and fiscal management of company Operations, including budgeting, treasury, tax, accounting, information technology, risk management, and insurance. Prior to joining MG, Joe was the CFO and Director of Development with ColRich, a diversified privately held Real Estate company, specializing in Apartment investment, ownership, construction and management (9,400 units), land development, and home building in the Western U.S. Joe’s real estate experience also includes being the COO/CFO of Florsheim Homes, a Northern California based homebuilder/developer, with operations in CA and NV, from 2006 - 2011. Joe was also the CFO for Shea Homes San Diego from 2001-2006 and worked for the international firm Deloitte & Touche. Joe earned his BBA in Accounting and MBA from the University of San Diego. Joe is a Certified Public Accountant, in addition to possessing a California Real Estate Brokers and General Contractors License. Joe is the chairman of the Residential Real Estate Committee for Burnham-Moores Center for Real Estate. Recognized as an industry expert, Joe has been a frequent contributor on CNBC television, discussing the housing and real estate markets.
You can listen to Joe's first interview appearance on the show (season1, episode3) here: Lessons Learned From Real Estate Operator And Educator Joe Anfuso