Optimize Your Home Expenses and Reduce Property Taxes Now

The Texas Real Estate & Finance Podcast with Mike Mills

Struggling with skyrocketing property taxes and home expenses? Discover how technology can help you optimize your home expenses and reduce property taxes now with insights from Ownwell's CTO, Joseph Noor. Tune in to unlock the secrets to saving big on your biggest home costs.

In this episode, we focus on how to reduce property taxes and optimize home expenses now with expert insights from Joseph Noor, CTO of Ownwell. Discover the innovative technology solutions that make managing real estate costs easier than ever. Learn how to save on property taxes, lower your home insurance, and cut down on utility bills

Key Takeaways

Optimize Your Home Expenses

Joseph Noor explains how Ownwell's technology can optimize every line item on your property’s P&L, from mortgages to utilities. By leveraging AI and local expertise, Ownwell helps homeowners ensure their expenses are as low as possible, making property ownership more affordable.

Reduce Property Taxes with Ease

Learn about Ownwell’s streamlined process for protesting property taxes. Joseph Noor highlights how the company uses technology to prepare evidence and negotiate with assessors, ensuring homeowners pay no more than their fair share in property taxes every year.

Lower Your Home Insurance Premiums

Ownwell not only helps with property taxes but also offers solutions to reduce home insurance costs. By continuously monitoring insurance rates and pulling quotes from various providers, they ensure homeowners always get the best deals without the hassle of spam calls or emails.

Cut Utility Bills Effortlessly

Joseph Noor discusses how Ownwell can help homeowners lower their utility bills, including internet and electricity. By negotiating better rates and identifying savings opportunities, Ownwell makes it easy for homeowners to reduce these recurring expenses.

Embrace Technology for Savings

The episode underscores the importance of adopting new technology in real estate. Joseph Noor shares insights on how AI and automation can revolutionize property management, making it easier for homeowners and realtors to manage costs and improve financial outcomes.

Time Stamped Summary

[0:00 - 1:04] Introduction and Vision

• Joseph Noor introduces Ownwell's vision to optimize every line item on a property’s P&L, starting with mortgages and working down to taxes, insurance, and utilities.
• Discussion on monitoring the mortgage market and exploring ways to reduce standard bills, like internet costs.

[1:04 - 3:33] Episode Introduction

• Mike Mills introduces the podcast and the episode’s focus on reducing property taxes and home expenses.
• Discussion on the current unaffordable housing market, rising insurance costs, and the importance of managing these expenses.

[3:33 - 5:04] Ownwell’s Services

• Joseph Noor explains Ownwell's primary service of helping homeowners save money on property taxes.
• The process of protesting property taxes annually and ensuring homeowners pay no more than their fair share.

[5:04 - 6:56] Traditional Property Tax Protest Methods vs. Ownwell

• Comparison between traditional property tax protest methods and Ownwell’s technology-driven approach.
• Ownwell’s focus on making property tax protest accessible to all homeowners, regardless of property value.

[6:56 - 8:31] Technology and Local Expertise

• Joseph discusses the integration of local experts with technology to provide the best outcomes for clients.
• The importance of local relationships with assessors and using technology to support these interactions.

[8:31 - 10:25] Contingency Fee Model

• Explanation of Ownwell’s pricing model: charging 25% of the savings achieved.
• Emphasis on aligning Ownwell’s incentives with those of the clients to ensure the best possible outcomes.

[10:25 - 12:41] Expanding Services Beyond Property Taxes

• Discussion on Ownwell’s expansion into other services like home insurance.
• The process of monitoring insurance rates and finding the best deals for clients without spam.

[12:41 - 15:07] Challenges with Home Insurance

• Mike Mills talks about the challenges of rising home insurance costs and changing deductibles.
• Joseph explains how Ownwell helps navigate these issues by constantly pulling quotes and presenting savings opportunities.

[15:07 - 17:00] Autopilot for Home Expenses

• Joseph describes the autopilot nature of Ownwell’s services, handling annual property tax protests automatically.
• Emphasis on making the process seamless and stress-free for homeowners.

[17:00 - 19:22] Monitoring and Notifications

• How Ownwell monitors insurance premiums and utility bills to find savings.
• The criteria for notifying clients about potential savings and ensuring the notifications are meaningful.

[19:22 - 21:56] Embracing Technology in Real Estate

• Discussion on the slow adoption of technology in the real estate industry.
• Joseph’s belief in the transformative potential of AI and technology for property management.

[21:56 - 23:48] Personal Reflections and Future Innovations

• Joseph reflects on his background, including his time at NVIDIA and his passion for hardware and AI.
• Insights into future innovations and continuous brainstorming at Ownwell to improve services.

[23:48 - 25:39] Conclusion and Call to Action

• Mike Mills wraps up the episode, reiterating the importance of reducing property taxes and optimizing home expenses.
• Encouragement for listeners to visit Ownwell’s website and take advantage of their services.

[25:39 - 30:00] Personal Life and Background

• Joseph shares about his personal life, including his eight-month-old daughter.
• Discussion on balancing work and family life, and the role of fathers.

[30:00 - 32:00] Early Career and Inspiration

• Joseph’s journey from selling golf balls to working at NVIDIA.
• His academic background and the inspiration behind starting Ownwell.

[32:00 - 34:00] The Importance of Protesting Property Taxes

• Emphasis on the importance of protesting property taxes every year.
• How Ownwell simplifies this process for homeowners.

[34:00 - 36:00] Real Estate Market Dynamics

• Discussion on the differences in property tax systems between Texas and California.
• The impact of state income tax on property taxes and the importance of staying informed.

[36:00 - 38:00] Leveraging Local Expertise

• The significance of hiring local experts to navigate the property tax protest process.
• How Ownwell’s technology supports these experts to achieve the best results.

[38:00 - 40:00] Pricing Model and Client Alignment

• Detailed explanation of Ownwell’s contingency fee model and its benefits.
• Aligning the company’s success with the client’s savings.

[40:00 - 42:00] Expanding Services and Future Plans

• Plans to expand Ownwell’s services beyond property taxes and insurance.
• The potential for future innovations and continuous improvement.

[42:00 - 44:00] The Role of Technology in Real Estate

• Discussion on the slow adoption of technology in real estate.
• Joseph’s vision for the future and the role of AI in property management.

[44:00 - 46:00] Industry Regulations and Challenges

• Challenges faced due to industry regulations and the slow pace of change.
• The importance of adapting to new technologies while navigating regulatory frameworks.

[46:00 - 48:00] Personal Reflections on Career Choices

• Joseph reflects on his career choices, including his time at NVIDIA and his transition to academia and entrepreneurship.
• The satisfaction of making a meaningful impact through Ownwell.

[48:00 - 50:00] Housing Affordability and Homeownership

• Discussion on the current state of housing affordability and its impact on homeownership.
• The importance of making homeownership more accessible and affordable.

[50:00 - 52:00] Future Innovations and Opportunities

• Insights into potential future innovations in real estate technology.
• Joseph’s continuous brainstorming and dedication to improving the industry.

[52:00 - 54:00] Final Thoughts and Encouragement

• Mike Mills and Joseph Noor share final thoughts on the importance of reducing property taxes and optimizing home expenses.
• Encouragement for listeners to embrace technology and take advantage of Ownwell’s services.

[54:00 - 57:00] Closing Remarks and Call to Action

• Mike Mills concludes the episode with a call to action for listeners.
• Emphasis on visiting Ownwell’s website and signing up for their services to save on property taxes and home expenses.

Guest Bio

Joseph Noor is the Co-Founder and CTO of Ownwell, a technology platform dedicated to reducing the costs and complexities of owning real estate. Born into a family of Lebanese immigrants deeply rooted in real estate investment, development, and property tax collection, Joseph's immersion in the industry began at a young age. He holds a PhD in Computer Science from UCLA, where he specialized in architecting scalable distributed systems using applied machine learning and AI. Prior to founding Ownwell, Joseph worked as a software engineering consultant, crafting software MVPs and optimizing systems for scalability. At Ownwell, Joseph combines his tech expertise with local market knowledge to help homeowners reduce property taxes, lower home insurance premiums, and cut utility costs, making property ownership more affordable and efficient.

Resources

Ownwell Website:

Sign up and learn more about Ownwell's services for reducing property taxes, lowering home insurance premiums, and cutting utility costs.

https://www.ownwell.com

NMLS Consumer Access:

For information on licensing and equal housing opportunities.

https://www.nmlsconsumeraccess.com

Geneva Financial:

Visit Geneva Financial for mortgage services and more.

https://www.millsteammortgage.com

Mike Mills Social Media:

Stay connected with Mike Mills for the latest updates and insights.

• Facebook: https://www.facebook.com/mike.mills.3110
• LinkedIn: https://www.linkedin.com/in/mike-mills-49a09621/
• Instagram: https://www.instagram.com/mikemillsmortgage/
• X (Twitter): https://twitter.com/mikemillsMTG
• TikTok: https://www.tiktok.com/@mikemillsmortgage

Podcast Links:

Catch the full episode and more from The Texas Real Estate and Finance Podcast.

• Podcast URL: https://www.thetexasrealestateandfinancepodcast.com
• YouTube: https://www.youtube.com/channel/UCXkjOewltTYYIi0dTsyI9Eg

Contact Information:

For any inquiries or further information.

• Email: [e-mail]
• Contact Number: 817-689-6079