Epic Real Estate Investing - TRIPLE Your Income with Peter Vekselman | Episode 200!

Episode Date: April 11, 2016

Today Matt is joined by one of the most successful investors in the Southeast, Mr. Peter Vekselman.  Peter has created a new approach to investing that has allowed him to triple his business in under a month – and is here to show you how you can do the same!  If you are an experienced investor looking to take it the next level, don’t miss this one! ------- The free course is new and improved!  To access to the two fastest and easiest strategies to a paycheck in real estate, go to FreeRealEstateInvestingCourse.com or text “FreeCourse” to 55678. What interests you most? E.ducation P.roperties I.ncome C.oaching Learn more about your ad choices. Visit megaphone.fm/adchoices

You've got the knowledge. Now, get the funding. It's simple. It's easy. Go to Epicfastfunding.com. Get up to $150,000 in revolving credit lines for your real estate business. Use your funds for property purchases, renovation expenses, marketing and promotion, anything your business needs. Go to Epicfastfunding.com. Fill out their 60-second application and receive your funds in as little as seven days. Epicfastfunding.com. When you combine wisdom and leverage, magic happens. Epicfastfunding.com. This is Terrio Media. Casting from Terrio Studios in Glendale, California, it's time for Epic Real Estate

Investing with Matt Terrio. Yeah. What's up? Hello. Hello. And welcome. Welcome to Epic Real Estate Investing, the place. where I show people how to escape the rat race.

Using real estate. You just got to do one thing and do it one time. Just got to shift your focus from making piles of money to making streams of money. Change that one thing, just one time, and you are on your way to financial freedom. It's not the most exciting path. No, it's not the Wow, Wild West. It's not fixing and flipping. It's not wholesaling.

No, it is not very exciting. It's actually rather boring. But it is the fastest. And that right there, that's a promise. And once you get there, life then becomes exciting. And speaking of exciting, today, do you know what today is? Today is show number 200. Yep, number 200 of Epic Real Estate Investing, been going strong for almost seven years now.

I can hardly believe that. And, you know, I just wouldn't be here if it weren't for you listening to the show and sharing it with your friends and your family and your associates. I'm eternally grateful for that. So thank you. Now, I just got off the phone with Amber, Amber over at Epic Fast Funding, and they are offering their services right now with zero upfront fees. And you can get approved for up to $150,000 of unsecured business credit.

It's just based off your credit score. You state your income and up to $150,000. In fact, they guarantee you are approved for $50,000 or you pay nothing. Meaning if you get approved for $40,000, there are zero fees. And she let me in on a secret that even I didn't know. She let me know through their credit counseling service that they show their clients how to essentially extend their zero percent interest indefinitely. Currently, I mean, you're looking at zero percent interest for the first 12 to 18 months. That's how it is as it stands.

But then through a slick little trick, they'll show you how to extend that zero percent indefinitely. And I went ahead and thank goodness, I recorded that conversation and I'll let you hear that next week. But if you want to jump to the front of the line, go to epicfastfunding.com and fill out their 60-second online application and get access in as little as seven days to the cheapest money on the planet. Epicfastfunding.com. All righty, on the phone today, I have a very special guest, a member of my mastermind group, one of the more successful and accomplished real estate investors in my group, maybe even in the entire country. And today he's going to share with you a new and creative approach to running your real estate investing business. And within a month's time of making the small tweak to his business, boom, tripled his business, tripled his income. And he's going to share with you exactly how he did it.

So without further ado, please help me welcome Mr. Peter Vexelman. Peter, welcome to Epic Real Estate Investing. Hey, great to be here. Thanks for having me, Matt. I appreciate it. You bet. It's pleasure. You know, we haven't talked in a really long time.

I know I visited your office down in Atlanta. And, you know, we were talking about doing business together. I can't really remember what came of that and why it didn't happen. It's good to talk to you again. Hey, good, good to hear your voice again. Super. So I guess just give people a little bit of a rundown or a quick background of, you know, how you got into real estate investing and then we'll take it from there.

Gosh, I've been in it so long. I think I've done it in my whole life. But I've been doing it for like 15 plus years. Started with the mobile home business for a couple of years. We really killed it there, did well. Then literally overnight, the financing fell out of the mobile home business for our buyers. So, you know, the natural transition. We jumped into real estate.

Did what every successful guy does, lost a bunch of money in the beginning, right? We all got the same story and made a bunch of mistakes. Then kind of right at the ship and three years later became, you know, a very strong investor. You know, since then, I've bought, you know, literally thousands of properties, built houses, done renovations, done subdivisions, done rezoning, done condo conversions. You know, just done it all. And, you know, in the last number of months or years or so, been running with this new model, we've combined an investment company with the traditional brokerage.

And I'd tell you what, as big as I was, and I was already the biggest investor in the Southeast, when we developed this new model, it just absolutely, it literally tripled my business overnight. Really? Wow. Okay, cool. So I definitely want to talk about that,

but I have another question, and maybe the answers are the same. Okay. As you, you know, you went through the downturn of real estate and you came out, looking your wounds and rebuilt yourself, what did you learn from that downturn that you're not going to do again that you think's going to protect you in the future? Well, actually, when I crashed, the first time was just when I got in, which was about 15 years ago. But good point. That's right. Thanks for reminding me. I also crashed during the downturn. And, you know, the biggest takeaway from me then is I just, you know, you hate to say it. It's almost an embarrassing. thing, but I didn't get out in time. If I would have gotten out in time, I mean, I lost tons of money

when the market crashed several years back. It was an ego thing. I, you know, I thought it was the biggest thing in the world. I was embarrassed. I was, big-headed about it. I was just, I was, you know, and if I would have gotten out, probably about seven or eight months earlier, I would have saved myself millions of dollars, but I just, my ego was out of control. I didn't want people to know I was in trouble, like the whole world was in trouble and stayed in too long. And so, there's no question that was my biggest takeaway got it so going forward is it more about being a little bit more in tune with what the market is saying to time it better or is it keeping your ego in check uh both it's both you know my models changed a little bit too since then it's more of a

short-term play whereas back then it was a long-term very over-leverage play um the ego has definitely been in check you know i can make decisions in the way our model is designed now in a much more quicker, more responsive way. And so it's a combination. You know, experience is the greatest teacher, right? Right. Absolutely. If you choose to listen to it, right?

You can listen to it. That's right. That's called the gut, right? Exactly, exactly. Cool. So let's talk about this new model. You got tripled your business overnight. That's quite the claim.

So I'm really interested in hearing about it, and I know the people listening to you right now want to know what's going on, how they can triple their business. Sure. Well, here's what happened. I, you know, again, always very big, you know, very large investor, did a lot of volume, did a lot of deals, and always had kind of agents in the side that I work with, real estate agents. And I used different capacities.

I use agents to buy properties. I use agents to sell properties in all traditional capacities. Then somewhere along the line, I said, you know what, let's use agents and take all the leaves that we can't convert, and let's throw them into the agent's world and see if they can at least convert them into listings. and ran with that model for a while. It was a good model. You know, I developed a huge income stream and aside. You know, it wasn't really an organized income stream.

We didn't really work with a team of agents. We worked with some dislocated agents, but it worked pretty well. And then somewhere along the line, a year and a half ago or a year ago, we said, you know what? You know, we're negotiating all our deals over the phone, which doesn't make us very efficient. We're doing as many deals as we are, only because we know how to market so well. you know, how do we get people inside people's houses, you know? And then, you know, somewhere along the hit us, you know, we got all these agents we're feeding these leads to. And then literally, Matt, overnight, my world changed.

We said this, let's do what we'd do before. Let's continue marketing the way we continue, the way we've always marketed. And, you know, at this point, I'll put my marketing against any investor in the United States. But now, when we're taking initial calls, instead of trying to negotiate a deal, let's just take a consultive approach. Let's tell these sellers that, you know, there's a number of things we do here. We have the ability, Mr. Seller, to buy your property. We have the ability to do this.

All the way, Mr. Seller, we have the ability to sell your property. So what we want to do is we want to send one of our licensed agents to your house and right in the spot, they can determine it. They can determine what's the right thing for you. And we call that consultative approach, and our numbers exploded. Because what happened now, you know, sellers are trained to hear two things. either from a set from a real estate agent how great they are or from a real estate investor how they want to steal their property we turn the whole world up so now we now we take it we take a consultive

approach we tell sellers there's options so then what happens our callers build a rapport relationship established trust with these sellers and they set appointments for our agents and then our agents get you know whatever two to four appointments that they set for them and so when they're going into people's houses okay so when they were going to people's houses they continue that consultative approach. For the first 10 minutes, they're putting together a cash offer. That's showing a seller something they never seen before. Every agent that shows up with their house, what do they want? They want an exclusive listing. They want a listing. They want to do this. Not our agents. They're working for that seller for that initial 5, 10, 15 minutes. They're calling back our office asking

for cash prices that tells that seller, wow, this agent's got buyers in the back end. So what happens, if an offer can be negotiated, the agents just do a simple purchase-sales agreement. Our investment arm takes over. We buy the property. Everyone's happy. But if they can't get that agreement signed or if they can't come up with the price, then it is very easy to turn that seller into a regular listing. Okay?

Because you've already built rapport. The seller knows you got buyers. The seller's established trust. The seller's seen something I've ever seen before. So, Matt, literally, when we ran an invest model, my investment business literally, went tripled in numbers. Because now we were sending live people into live homes to talk to people about their life situations. We became a lot more efficient on picking up investment properties before we're doing it all through the phone. And the retail, my retail business exploded.

I mean, we've had agents here in the first 30 days literally pick up 15, 16 listings and 30-day time span. I mean, an agent world, that's unheard of. You know what I mean? We have agents start on our team here that have come out of real estate school with the they don't even know how to spell the word real estate they just moved to the city they don't have mom or dad to call in for listings and they're picking up eight to nine listings so when you when we brought this world together the investor world the real estate the regular retail world we talked to consultative approach everything just absolutely exploded i mean absolutely exploded we started developing our own retail team with agents you know now we're killing it you know just you give you another number just in the

last couple months, we put over 200 listings. Forget the all the investment properties I bought. We put over 200 listings on the board. So we became a mega team in just a couple months time span. And then, you know, then the next step was the obvious. You know, I wanted to start growing, started expanding this business. And that's what we've been doing here for a little while now. We're now in eight different states doing it. We're actually partnering up with people that are already successful in their markets, successful investors, or successful agents, or sometimes our partners already have these pieces in place, they don't know how to fit them together, and we're partnering up with them. We're marketing for them out of Atlanta.

We're doing all the marketing for them into their marketplaces. We're qualifying the sellers. We're setting these appointments for them. Then they're going in, they're converting them into either listings or cash offers for them. And it's just this whole model is expanded. And right now, we're just literally in the process of just looking for some more partners or people that want to learn this model. We call it the trifecta model.

So you could either partner with us, become one of our partners, or, you know, you could spend a day with us and we teach you how to do it. But this model, I feel with the rate we're growing and the kind of people that are coming on board with us, Matt, you know, we just talked about how we're not going to be cocky anymore, but I think this thing is going to span the globe. I think in the next couple of years, everyone in this industry will, or this model will be just as commonplace as a Keller Williams or a Remax or a Century 21 broker ship. Yeah, it makes a whole lot of sense.

Have you changed the message in your marketing at all? We'll be back in 30 seconds. Right after this. There are two steps to wealth. First, stop doing what poor people do. Second, start doing what wealthy people do. The wealthiest people do what they do best and delegate the rest. If only you have the time and resources to do it, now you do.

We're VAs for Real Estate.com, and we have some free information for you. Get the five-step shortcut to hiring a rock star virtual assistant that will make you millions. Go to VAs for Real Estate.com. Stop doing what poor people do and do what wealthy people do. VAs for real estate.com. Have you changed the message in your marketing at all? No, that's the key. We haven't done nothing different.

You know, we've always been extremely good marketers. You know, we generate, you know, sometimes as many as a thousand seller calls a day into our office, just our Atlanta office. you know, sellers, just in Atlanta market. So the marketing has always been straight on. It's always been strong. It's always been good. Didn't change there. The whole model changes from the time that initial seller is talked to.

You know, you're going for with a consultative approach. And instead of getting someone in there with the, you know, instead of going in there from an investor perspective, instead of going there from an agent perspective, you go in there from the combination of the two. Right. And that's what makes this model absolutely explode. I love it. I love it.

So really, it's just the conversation, the initial conversation over the phone is where everything changes or has changed. It's where it starts. Right. Then the agent continues that consultative approach, you know, when they're there. And that's where the numbers could just go skyrocketing through the roof. So now, because we're teeing up appointments for our agents, it gives us the ability to recruit the best agents in town. Because we're giving options to the sellers they've never had, we're doing more deals and more listings than we ever have, you know. It's just the value added on the front end and the back end for everybody.

Got it. So when the agent goes in and they present a potential or one of the options as a cash offer, are you creating the same type of offers that you were before you had this approach? Yep, absolutely. The numbers don't change. The schematics, the formulas don't change. Everything stays the same except you now are a lot more effective because you have a real-life person sitting in a real-life kitchen talking about real-life situations.

Got it. So you were able to get more. That's why we're getting so many more deals. Because before it was all done through the phone. See, that's the problem with the investor world. The problem with investor world, you either have to stay very small or you've got to be huge like I was. See, if you're very small, you can still go inside people's houses.

So you're going to be a lot more efficient, okay, because you have time to run one or two leads you're generating. But there, you just got another job. job. Okay? You're just going from house to house trying to put deals together. So then what everybody's, so then everybody starts leading the other way. Well, let's negotiate over the phone. When you negotiate over the phone, you lose efficiency. So then the only way to do it is what I used to do, blow up our phone a thousand times a day. You see what I mean? Right. So you can't, you can't be in between. That's why most investors never get to be big. They cannot overcome how to be efficient as a real estate person. But when you're utilizing the agents to do this, there's There's no shortage of agents that don't want to go on listing of presentations. You know what I mean? Right.

So your team could be, you know, 200, 20, 30 as big as you want it to be. That's the brilliance of this whole model. It gives you to scale your business up. So when you say it's tripled your business overnight, is that tripled your income or is that actually tripled your investor deals? Yeah. Both. Yeah.

Okay. And so you're accrediting that to, and when I was talking about your income, I was talking about the listings and the investor deals combined. Oh, I'm not even talking about the listing side. The listing side is almost non-existent to one of the top teams in a nation now. Right, right. That's a whole new thing that developed as a result. Got it.

And are you crediting this to more of having this consultative approach, or do you think it's more that you're just actually getting in the house and being able to negotiate and talk face-to-face? It's both. Number one, you start with consultative approach. Sellers are not used to hearing that. Sellers are used to hearing either from a real estate agent, telling them they're the biggest, the baddest, they're the greatest.

or they're used to hearing from a real estate investor saying, let me get your property at 20 cents and a dollar. We could solve. We say, look, there is options with us, Mr. Seller. One way or another, we could help you. We could maybe buy it. We could help you sell it, but we're going to get you what you need. You see?

So it starts there, but it continues because now we're sitting also face-to-face with these sellers. So it's a combination of all of that that makes this thing explode. Sure. It makes a lot of sense. And it certainly makes a lot of sense in theory and on paper, but now you've got it out in the real world and you've proven it practically. Oh, it's, it's exploding. I mean, it's exploding with our partners.

It's exploding with people. We've taught us model, too. It's unbelievable. You know, it's really unbelievable how much, how people are taking this. We got one of the biggest real estate minds in the industry starting with us in three weeks, this model. And, I mean, this is a guy that if I used his name, and I'm not sure if it's even okay for me to use his name, but I'm sure once he joins us, it'll be okay. Everybody would know him.

And he flew in here, looked at this model. He said, this is unbelievable. We're going to roll it out in our shops. Awesome. Awesome. Well, congratulations. The people that are listening to you right now, most of them are not licensees.

And you kind of alluded to how you would help people set up, either set up their own operation or come and partner with you. What are the options that you would present to somebody that does not have a license? Well, number one, I don't have a license. I'm an investor. You know, I just partnered with a local broker. That's the beauty. thing. You don't have to change anything. So, so, but in terms of options, sometimes, you know,

people can fly in here for days, spend a day with us, and we show them all the intricacies of this model, and they just, they go home and implemented themselves. You know, we kind of coach them through it. And some people will literally partner with where we handle all the marketing for them, we qualify the appointments, we coach them through how to build the teams and all that, you know, both. But here's who's not a candidate for this. If you're just getting started in real state, You don't even know what a closing is or you don't know that you can build this business beyond just putting everything in a credit card. That's not for you. You know, our perfect candidates are people that are fairly savvy.

They've already successful. They understand this industry. People that are listening to this and they're like, holy crap, yeah, I got it. It makes all the sense. There you go. If someone's listening to this, they're like, well, that's a little weird. What the heck's going on there? You're definitely not a candidate.

Got it, got it. All right. So for those that are going, holy crap, this is amazing, where should they go? Well, you know, right now, because we're very selective, both on just teaching people and partnering with people on this, I want actually people to send me an email, I'm sorry, send me a text to my cell phone directly. Okay. My cell phone number is 404-915-9-6-85. That's 404-915-9-6-85.

We're calling this program Trifecta. It's the meeting of the marketing world, the investor world, and the retail world. So just put the word trifecta in a text and just tell me a little bit about what they're doing, what their model looks like. And, you know, we'll touch base with them, you know, and go through a screening process. Awesome. Love it. Very simple.

Straightforward. Straightforward. Cool. Well, let's check back in in six months. See how it's going. And, yeah. And let's not take, you know, three, four years to talk again. Anytime, Matt.

Hey, I appreciate you having me on. This has been great. You bet, Peter. It was a pleasure. Nice talk to you. And the best luck, and congratulations. That's what you've accomplished so far. Appreciate it.

You bet. Take care. Bye. Bye. Bye. I'll see you next week. I'm Matt Terrio, living the dream. You've been listening to Epic Real Estate Investing,

the world's foremost authority on separating the facts from the BS in real estate investing education. If you enjoyed this show, please take a minute to visit iTunes and share your thoughts. Thanks for listening. We'll see you next time here. at Epic Real Estate Investing with Matt Terrio. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.