Watch Me Build – Industrial Offering Memorandum Analyzer Custom GPT
In this Watch Me Build session, I’ll walk you through constructing a custom GPT that near-instantly sifts through Industrial Offering Memorandums to pinpoint whether an investment aligns with your criteria. At the heart of this build is a tailored GPT setup that efficiently processes and analyzes complex data sets found in these OMs.
Custom GPTs are individualized versions of large language models (LLM) specifically designed to solve bespoke tasks. In this case, the task of analyzing a commercial real estate OM. While I use ChatGPT’s custom GPT feature in this Watch Me Build, this same method can be used as a ‘prompt’ with your favorite LLM (e.g. ChatGPT, Claude AI, Gemini, etc.).
- Click here to try out the Custom GPT built as part of this tutorial (Note: Custom GPTs are now available to both paid and free users of ChatGPT Click here to learn more.)
Note: Are you an Accelerator member? This video together with accompanying files is included in our ‘Apply AI’ segments scattered throughout the Accelerator core curriculum. Not yet an Accelerator member? Consider joining the real estate financial modeling training program used by top real estate companies and elite universities to train the next generation of CRE professionals.
What are Custom GPTs?
Custom GPTs are a specialized extension of OpenAI’s ChatGPT, designed to serve unique needs across various industries, including commercial real estate. These tailored AI models enable users to fine-tune the technology for specific tasks, such as analyzing intricate data within offering memorandums, ensuring both precision and efficiency. By creating a Custom GPT, professionals can integrate industry-specific knowledge and skills, making the tool an invaluable asset for tasks that require deep, sector-focused insights.
The creation and application of Custom GPTs are straightforward and accessible, encouraging innovation across all professional levels. For the commercial real estate sector, this means the ability to craft AI solutions that can sift through complex documents, align with investment criteria, and even connect to external data sources for comprehensive analysis. Privacy and data security are paramount, with measures in place to protect sensitive information, making Custom GPTs a reliable and adaptable tool for CRE professionals.
- Check out the list of custom GPTs we’ve built and shared here at A.CRE
Why Build a Custom GPT to Analyze Offering Memoranda?
The rationale behind developing a Custom GPT for the analysis of Offering Memoranda (OMs) is compelling. Firstly, it addresses the significant time investment required in the traditional review process; where analysts might spend anywhere from 15 minutes to several hours per OM, a Custom GPT can reduce this to mere seconds.
This efficiency gain not only saves valuable time but also amplifies the scale at which analysts can operate, enabling them to review a larger volume of deals. This increased capacity allows analysts to focus their efforts on deals with a higher likelihood of alignment with their investment criteria.
Furthermore, the precision of a Custom GPT in identifying specific, often overlooked details—such as expense caps or environmental concerns—enhances the quality of analysis. By training the GPT to recognize and flag these critical elements, the risk of missing vital information on the initial review is significantly mitigated, leading to more informed decision-making.
Ultimately, a custom GPT like this can be thought of as another set of eyes on the deal but at a significantly lower price than a typical real estate analyst.
Watch Me Build – Industrial Offering Memorandum Analyzer Custom GPT
In this Watch Me Build video, I go through the process of creating a Custom GPT specifically designed for analyzing Industrial Offering Memoranda. Effectively, the GPT is a complex ‘prompt’ following the R.O.D.E.S. prompt engineering framework that we prefer here at A.CRE.
- Click here to try out the Custom GPT built as part of this tutorial (Note: as of April 2024, a ChatGPT Plus membership is required to use or create custom GPTs)
- Accelerator member? Click here and then go to lesson 14 of course 4 to find links to a) view a detailed description of the R.O.D.E.S. framework, b) download the GPT instructions used in the Industrial OM Analyzer, and c) to read an additional sample conversation to provide greater context.
Frequently Asked Questions about the Industrial Offering Memorandum Analyzer Custom GPT
What is the Industrial Offering Memorandum Analyzer Custom GPT?
It’s a custom-built GPT designed to analyze Industrial Offering Memoranda (OMs) quickly and efficiently. It applies tailored logic to sift through complex documents and determine whether a deal aligns with a user’s investment criteria.
Why use a Custom GPT to analyze offering memoranda?
A Custom GPT reduces the time needed to review an OM from hours to seconds, allowing analysts to review more deals and catch important details like expense caps or environmental risks that may be missed manually.
How is this GPT built and customized for CRE analysis?
The GPT follows the R.O.D.E.S. prompt engineering framework developed by A.CRE. This framework guides how the prompt is structured so the model can accurately identify and extract key information from complex real estate documents.
What is the R.O.D.E.S. framework?
R.O.D.E.S. is a proprietary prompt engineering framework used at A.CRE to structure prompts effectively for custom GPTs. Full details are provided to Accelerator members in lesson 14 of course 4.
Can non-Accelerator members access the GPT?
Yes, the GPT is accessible to both free and paid users of ChatGPT, though as of April 2024, a ChatGPT Plus subscription is required to create or use custom GPTs.
How does this GPT improve the underwriting process?
It acts as an additional set of eyes, flagging potential concerns and verifying alignment with investment criteria, minimizing the risk of human oversight and enhancing decision-making efficiency.
What makes this Custom GPT better than traditional methods?
It is faster, scalable, and more consistent than manual review. Analysts can process more deals with greater accuracy, freeing up time for deeper analysis where needed.
Can this GPT be adapted for non-industrial real estate?
Yes, the same method can be applied to other asset types by adjusting the prompt to focus on relevant terms and data unique to that property type (e.g., multifamily, retail, office).
Where can I try or download the source files for this GPT?
You can access the GPT via a direct link in the post. For Accelerator members, the source files and setup instructions are located in course 4, lesson 14 of the core curriculum.
Version Notes
v1.0
- Initial release
