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Peter (00:07):
Hey gang. How are you? Peter Vekselman. And I got my partner, Ed Frawley and other side. Hi Ed, how are you? Great. How are you? Good as ed popped on. I’m like, dude, you look like a movie star, which is we just got to showcase you more. Huh? All right. Well, listen, we just closed the deal. Did you get your money?
Ed (00:26):
I did. I did
Peter (00:26):
Get my money. All right. Uh let’s uh, let’s analyze it. Let’s talk it through all the way from the beginning. Kind of how the partnership was involved in this whole thing. How we work together, what you did. Oh, by the way, Brad jubilations on the deal. Well, what else? There’s something. Oh,
Ed (00:46):
My new baby girl.
Peter (00:48):
Good. I’m glad we’re recording this. He had literally had a baby and he closed the deal. I’m like, congratulations on my deal. This will go viral. Um, no, congratulations on the baby. Um, all right, let’s walk it through. First of all, just how did, uh, we walk into it
Ed (01:09):
Into the, into the deal? Um, I use, uh, Facebook groups to obtain, uh, seller leads. Um, so I attained a few so leads and uh, this one popped up that an owner was just looking to get rid of their property. Like here, do whatever you want. Like, can you get rid of this for me? Um, so I put it on her contract.
Peter (01:29):
Can you just let me interrupt because this is an important piece for people listening. How do utilize Facebook groups to generate a seller lead?
Ed (01:38):
Uh, there are certain groups like buy, sell groups, and then you post that. You’re looking to basically buy a property. It’s all about the language and how you post it. And then people will comment or send you a direct message. Say they’re looking to sell their property. Um, you willingly say you’re looking to either fix some flip, um, buy, fix and rent, or, um, if another vessel is interested, you can sell off the contract to them. So those are the three options that you work with, uh, from a seller. Give me the seller, like the highest chance possible from actually selling the property. And that’s how I pitch it.
Peter (02:15):
Ah, very interesting. You as an investor, obviously we, as investors know about these groups, right? Was this, and lead directly to the owner
Ed (02:24):
Directly to the owner.
Peter (02:26):
How would it, so this is the question that always gets asked me. How would like an everyday owner even know about this? Like somebody, I got a house to sell, how in the world would I even know this space group, X face group group exists? How do you think they would know about it?
Ed (02:40):
There it’s just a general group. So it’s a buyer cell group, um, that they’re in and you post in there and then it’s like 5,000 people in the group and you post and you get a few people saying, you know, I’m looking to sell my property. I have this property, it’s vacant, it’s a run down. And, and I’m just looking to get rid of it. Uh,
Peter (02:59):
Was it, was this an investor owner or an owner owner, like,
Ed (03:04):
Uh, non-primary residence. This was an investor owner.
Peter (03:07):
And this is a very important piece that a lot of people don’t understand because that’s the question that was asking me to like, well, how would an owner owner even know to be in the group like this? And I tell them there’s more than one type of an owner. There is an owner who probably wouldn’t write if you’re just like mom and pop living in a house, they might not even know that these space groups exist or how to find them. But there’s other owners, there’s investor type of owners who also, obviously, by what, what we’re talking about here also are, uh, you know, sell at a discount. So why would this investor who does what you and I do? Why would he sell it at discount? What was the, what, what was the factor motivating factor here?
Ed (03:45):
Uh, he had started a company, a solar company, and he said, I don’t have any time to look into this. I can just say yes to you. And then it can be sold instead of looking into an agent or looking into other investors and having to put in the effort. Um, he just said, can you can, you know, can you get rid of this from me?
Peter (04:03):
Which point? This is a huge, huge point. A lot of people have this preconceived notion. Obviously you did an ad that an investor can not get in trouble. You know, a lot of times when I say it, it’s okay to market, to investors. People like, well, they do a, we do like, Y you know, it’s like, why would a car dealer buy from another car dealer? Well, in the, in our investment, yeah. Well, it’s just in our investor world. Investors get in trouble, you know, they, like you said, look at another venture. They might get in trouble on this venture. Okay. So I love it. You, you, you laser focused on a specific, uh, social media groups that other owners non-owner occupied owners like exist in the guy raises his hand, says I want to sell it. What was the initial price said of the house? Do you
Ed (04:46):
Remember 25,000?
Peter (04:49):
Where did it end up?
Ed (04:51):
Uh, 25,000, because he said that he bought it at it at that amount and he was willing. That’s what he bought it at. And he’s willing to get rid of it at that amount. I mean,
Peter (04:59):
The huge point so many times people think that, and I hear it all the time, especially cause I’m like, I’m huge into negotiations. So, so many times people tell me, well, Pete great D it’s impossible to get a good deal unless you know how to negotiate. And I don’t know how to negotiate, so I don’t want to go after deals. And I always tell them, well, Hey, you probably know how to negotiate better than you realize, but B it is literally possible for somebody at the right time, at the right place with the right situation, call you and ask 25, say I ain’t going to lower. And 25 actually be at the right price. Right.
Ed (05:33):
But yeah, it was a good price. So I wasn’t, I mean, it didn’t make sense for me to negotiate or try to a nickel and diamond when I knew based on I was able to do comps and things like that. And in current comps and it just was very low priced. It was five years ago. He bought it at 25,000 and that was at a low price when he bought it.
Peter (05:50):
Beautiful. And then we just an as this condition, we put it in the market for how much,
Ed (05:57):
Uh, put it on the market for when we put it on MLS. Cause we had a conversation. I was looking at N direct investors and it wasn’t really working out. We had a direct one-on-one coaching and you asked me if I had put it on MLS yet. And I had not. So I put it on MLS. And I think the second day I got an offer site on scene, uh, for the asking price,
Peter (06:19):
Which was 55,055. So we, we, we get them for 20, we got it for 25. We put it on the market for 55. And within two days we got an offer for 55,000. Right? Correct. And another huge, huge point here and on this one. Well, no on this one, we could use that as an example because you did try some local investors first. Right? And, and the power of what we’re able to do in our partnering program is we have these contracts that allow us to pre-market, which is very unusual, uh, in real estate before we have to even close and, and people, you know, there’s another pushback we get all the time. Well, no one local wanted it. So it’s not a deal. And I always tell people, no, no, it’s not just a couple of local guys that determine whether something is a deal. It’s all about exposure. And so in our contracts that allows us to do something, an average investor can’t do literally expose it to the world. They S they may, they did a site unseen offer. And from, I understand it was a fairly quick closing when then like a month or so, or maybe I know
Ed (07:22):
We tried to shoot for 10 days. I think I went for 14 days,
Peter (07:25):
14 days, all cash, right.
Ed (07:27):
Cash, no contingencies, nothing.
Peter (07:29):
You got it for 25. Will you sold it for 55? Right. Anybody can figure out the profit on that. That’s awesome. Um, and, uh, they didn’t renegotiate, you know, they just all cash or went to closing, right? Correct. Yes. Beautiful deal. And, and again, great, great. Along the way, great teaching a it’s possible to get a deal from an owner it’s possible to get a deal. Uh, even an owner, who’s an investor who for some reason gets in trouble. It’s possible to be at a deal without remit, without negotiating. I mean, let’s face, it didn’t happen a lot, but it, it, it, it is possible. Uh, our local buyers and other huge thing that I get pushed back on sometimes is local buyers. There’s only way to go. Not true. Sometimes the whole local contingency could say no, but it’s all about exposure on these deals. And there’s no bigger exposure. There’s no bigger buyers list. There’s no bigger a way to, to let the world know than MLS our contract allowed us to do that. We had an offer and closed it in 14 days. Um, and we made super-duper money for not having to do anything to the property. So nothing. Hey, that, that is absolutely awesome. Ed listened to it. It is great. And I know, I know you kind of said it since you had the baby, you know, you need a little time, I’m ready, ready for you to let’s
Ed (08:46):
Get back.
Peter (08:48):
So later on today, let’s get back on everyday accountability. You and I give me a text or we’re going to pick off and, uh, uh, let’s get another five, 10 going. Okay. Sounds good. All right. Hey, I appreciate it. Thanks ed. Thanks. All right. Be driven guys. See ya. Hey gang. How are you? Peter? [inaudible] and I got my partner, ed Frawley and other side. Hi ed. How are you? Great. How are you? Good as ed popped on. I’m like, dude, you look like a movie star, which is please just got to showcase you more. Huh? All right. Well, listen, we just closed the deal. Did you get your money? I did. I did get my money. Alright, cool. Uh let’s uh, let’s analyze it. Let’s talk it through all the way from the beginning. Kind of how the partnership was involved in this whole thing, how we work together, what you did. Oh, by the way, Brad jubilations on the deal. Well, what else? There’s something. Oh,
Ed (09:44):
My new baby girl.
Peter (09:46):
Good. I’m glad we’re recording this. He had literally had a baby and he closed the deal. I’m like, congratulations on my deal. This will go viral. Um, no, congratulations on the baby. Um, all right. Let’s walk it through. First of all, just how did, uh, we walk into it
Ed (10:07):
Into the, into the deal? Um, I use, uh, Facebook groups to obtain, uh, seller leads. Um, so I attained a few so leads and, uh, this one popped up that an owner was just looking to get rid of their property. Like here, do whatever you want. Like, can you get rid of this for me? Um, so I put it on her contract
Peter (10:28):
And let me interrupt, because this is an important piece for people listening, how to utilize Facebook groups, to generate a seller lead.
Ed (10:36):
Uh, there are certain groups like buy, sell groups, and then you post that. You’re looking to basically buy a property. It’s all about the language and how you post it. And then people will comment or send you a direct message. Say they’re looking to sell their property. Um, you willingly say you’re looking to either fix some flip, um, buy, fix and rent, or, um, if another vessel is interested, you can sell off the contract to them. So those are the three options that you work with, uh, from a seller giving the seller like the highest chance possible from actually selling the property. And that’s how I pitch it.
Peter (11:14):
Ah, very interesting. You as an investor, obviously we, as investors know about these groups, right? Was this, and lead directly to the owner
Ed (11:23):
Directly to the
Peter (11:23):
Owner. How would it, so this is the question that always gets asked me. How would like an everyday owner even know about this? Like somebody, I got a house to sell, how in the world would I even know this space group, X face group group exists? How do you think they would know about it?
Ed (11:39):
There it’s just a general group. So it’s a buyer cell group, um, that they’re in and you post in there and then it’s like 5,000 people in the group and you post and you get a few people saying, you know, I’m looking to sell my property. I have this property vacant, it’s a run down. And, and I’m just looking to get rid of it.
Peter (11:57):
Was it, uh, was this an investor owner or an owner owner like owner,
Ed (12:03):
Um, non-primary residence. This was an investor owner.
Peter (12:06):
And this is a very important piece that a lot of people don’t understand because that’s the question that was asked me. They’re like, well, how would an owner owner even know to be in the group like this? And I tell them, there’s more than one type of an owner. There is an owner who probably wouldn’t write. If you’re just like mom and pop living in a house, they might not even know that these space groups exist or how to find them. But there’s other owners, there’s investor type of owners who also, obviously, by what, what we’re talking about here also are, uh, you know, sell at a discount. So why would this investor who does what you and I do? Why would he sell it at discount? What was the, what, what was the factor motivating factor here?
Ed (12:43):
Uh, he had started a company, a solar company, and he said, I don’t have any time to look into this. I can just say yes to you. And then it can be sold instead of looking into an agent or looking into other investors and having to put in the effort. Um, you just said, can you can, you know, can you get rid of this from
Peter (13:01):
Huge point? This is a huge, huge point. A lot of people have this preconceived notion. Obviously you did an ad that an investor can not get in trouble. You know, a lot of times when I say it, it’s okay to market, to investors. People like, well, they do a, we do like, Y you know, it’s like, why would a car dealer buy from another car dealer? Well, in the, in our investment, yeah. Well, it’s just in our investor world. Investors get in trouble, you know, they, like you said, look at another venture. They might get in trouble on this venture. Okay. So I love it. You, you, you laser focused on a specific, uh, social media groups that other owners non-owner occupied owners like exists. Then the guy raises his hand, says, I want to sell it. What was the initial price said of the house? Do you remember
Ed (13:45):
25,000?
Peter (13:47):
Where did it end up?
Ed (13:49):
Uh, 25,000, because he said that he bought it at it at that amount and he was willing. That’s what he bought it at. And he’s willing to get rid of it at that.
Peter (13:57):
I mean, another huge point. So many times people think that, and I hear it all the time, especially cause I’m like, I’m huge into negotiations. So, so many times people tell me, well, Pete great D it’s impossible to get a good deal unless you know how to negotiate. And I don’t know how to negotiate, so I don’t want to go after deals. And I always tell them, well, Hey, you probably know how to negotiate better than you realize, but B it is literally possible for somebody at the right time, at the right place with the right situation, call you and ask 25, say I ain’t going in lower. And 25 actually be at the right price. Right.
Ed (14:31):
But yeah, it was a good price. So I wasn’t, I mean, it didn’t make sense for me to negotiate or try to a nickel and diamond when I knew based on I was able to do comps and things like that. And in current comps and they were just was very low priced. It was five years ago. He bought it at 25,000 and that was at a low price when he bought it.
Peter (14:49):
Beautiful. And then we just an as this condition, we put it in the market for how much,
Ed (14:56):
Uh, put it on the market for when we put it on MLS. Cause we had a conversation. I was looking at N direct investors and it wasn’t really working out. We had a direct one-on-one coaching and you asked me if I had put it on MLS yet. And I had not. So I put it on MLS. And I think the second day I got an offer site on scene, uh, for the asking price,
Peter (15:17):
Which was 55,055. So we, we, we get them for 20, we got it for 25. We put it on the market for 55. And within two days we got an offer for 55,000. Right? Correct. Another huge, huge point here and on this one. Well, no on this one, we could use that as an example because you did try some local investors first. Right? And, and the power of what we’re able to do in our partnering program is we have these contracts that allow us to pre-market, which is very unusual, uh, in real estate before we have to even close and, and people, you know, there’s another pushback we get all the time. Well, no one local wanted it. So it’s not a deal. And I always tell people, no, no, it’s not just a couple of local guys that determine whether something is a deal. It’s, it’s all about exposure. And so in our contracts that allows us to do something, an average investor can’t do literally expose it to the world. They S they may, they did a site unseen offer. And from, I understand it was a fairly quick closing when then like a month or so, or maybe I know
Ed (16:20):
We tried to shoot for 10 days. I think I went for 14 days,
Peter (16:24):
14 days, all cash, right.
Ed (16:25):
Cash. No, nothing.
Peter (16:27):
You got it for 25. We sold it for 55. Anybody could figure out the profit on that. That’s awesome. Um, and, uh, they didn’t renegotiate, you know, they just, all cash shopper went to closing. Right? Correct. Yes. Beautiful deal. And, and again, great, great. Along the way, great teaching a it’s possible to get a deal from an owner it’s possible to get a deal. Uh, even an owner, who’s an investor who for some reason gets in trouble. It’s possible to be at a deal without it, without negotiating. I mean, let’s face, it didn’t happen a lot, but it, it, it, it is possible. Uh, our local buyers and other huge thing that I get pushed back on sometimes is local buyers. There’s only way to go. Not true. Sometimes the whole local contingency could say no, but it’s all about exposure on these deals. And there’s bigger exposure. There’s no bigger buyers list. There’s no bigger a way to, to let the world know than MLS. Our contract allows us to do that. We had an offer and closed it in 14 days. Um, and we made super-duper money for not even to do anything to the property. So nothing.
