Today's Guest: Paul Wakim
Paul is the co-founder of TwnSqr, a real estate technology startup devoted to breaking down the barriers of the real estate industry by providing homeowners and real estate professionals full control over the connections they make for their next real estate transaction. Paul started TwnSqr as a project to create an algorithm to predict who would sell their house next so he could buy more deals. Today, TwnSqr has reimagined how the real estate process works for buyers, sellers, agents, and investors, and it’s the most secure and fastest way to connect with the best person for your next real estate transaction on your own terms.
Highlights From The Show:
We begin the episode with Paul sharing why you need TwnSqr software and how it works. Paul shares that they have broken the real estate investors' transactions into three parts. The first is data gathering and marketing to find the property, the second is the acquisition and management of the lead through CRM, and the third is disposition. According to Paul, big successful companies predict who will sell their house next, and they have all the tools in place for data gathering, marketing, and organization of leads into a CRM. However, there is no real estate-specific software for disposition. With this in mind, Paul shares that TwnSqr is focused on being the go-to deposition platform for real estate investors.
We then talk about how TwnSqr focuses on large investors and individual investors. Paul shares that they recently started focusing more on individual buyers because they have invested a lot of time focusing on big institutional buyers. He shares that whenever they were pivoting from retail and back to off-market real estate, they had some institutional hedge fund private equity firms come to them for a platform like they had but for off-market properties. They had an itch that there were properties that existed off-market and sold among small real estate investors, but nobody had created a door they could easily open and peer into the market of off-market and investor properties. However, according to Paul, they are creating technology at TwnSqr for the small real estate investor to support their business.
Next, we discuss TwnSqr’s focus on individual investors and its goal of creating something that works with what they are currently doing, the people they serve, and the larger market. Paul shares that they are doing a lot for smaller real estate transactions in addition to helping real estate investors connect with giant institutional buyers. Paul explains that everything in TwnSqr comes in threes - transaction, marketing, and disposition. With these three foci, they realized that if they supported the activities of the everyday investor, they would be able to get more properties on their platform. To achieve that, they incorporated two more pieces: sending your deal to your buyers and JV with another user to expand their buyers' network. So as a user, the first thing you can do on TwnSqr is to post your property to the market to hit institutional buyers. Second, send your deal to your buyers directly through the platform. Third, knock on the door of other investors in your market, ask them to send your deal to your buyers, and sign an agreement with them to make sales and help them monetize their buyers’ list.
Lastly, we talk about what you should expect from TwnSqr in the coming months. Paul shares that their mantra is giving their users the ability to maintain control over their entire process on TwnSqr. They have built their platform to give their users complete discretion and flexibility to do whatever they want while maintaining control over their buyers and deals the entire time. In light of that, some of the things they are building are in line with trust and more control. So, if you bring a deal to TwnSqr, you can see all the people that are available to share your deal with. Paul also shares that what they want rolled out in the next couple of months is a kind of google search result of people to work with, where people performing best will rank at the top of search results.
Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with Paul Wakim and get valuable information on how to unlock the potential of your dispositions process with TwnSqr!
Notable Quotes:
“Not everyone knows how to professionally contact their buyers and other investors in their market to JV with, and TwnSqr brings all that online to add structure to investors' businesses.”
“The TwnSqr software is coming at a great time in the market where investors need access to a wider world and list of people interested in buying properties.”
“Anybody can go to TwnSqr, create a free account, manually upload their property and send it to the marketplace where big institutional buyers have buy boxes set up to test against the properties being posted.“
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Resources and Links From Today's Show:
TwnSqr
Paul Email
Paul on LinkedIn
Paul on Instagram
Paul on Twitter
Paul on Youtube
More Resources From Mike:
