How Zip Offer Is Reinventing Off-Market Real Estate Deals for Investors

Glen Wyche (00:00)
You’re gonna see Zip Offer everywhere. And it’s gonna be like I say, a complete package with title funding. We’re gonna have verified vetted contractors. So even new investors, they can go on Zip Offer, find trusted contractors.

Issa Hanna (01:47)
Welcome back to another episode of the Real Estate Pro Show. Today I have Glen Wyche who’s developed a revolutionary new software for investors and sellers. that’s gonna change the game. Glen, welcome to my show.

Glen Wyche (02:02)
Hi, thank you for having me. It’s truly an honor to be here. I followed the podcast for quite a while. I’ve seen a lot of the guests you have on, so you know, it’s truly an honor to be part of the podcast.

Issa Hanna (02:14)
Well, I’m truly honored to have you on the podcast. And we were talking earlier and I’m super excited about about Zip Offer. I mean, the stuff you were telling me is just I mean, revolutionary. It’s gonna change the game of how investors look at houses. But instead of me telling can you kind of run down what Zip Offer is?

Glen Wyche (02:35)
Yeah, absolutely. It’s going to be a marketplace type infrastructure where we bring homeowners, sellers, investors, title companies, lenders, all in one transparent, efficient marketplace so that you know, sellers can rest assured they’re getting the best offer. They’re gonna have investors, multiple offers from investors. Investors can rest assured they’re dealing directly with homeowners, so they’re getting the best deal on the property. title companies.

We see the transparent process from beginning to end. Same thing with lenders. So they can begin evaluating properties as they come on the marketplace. They can put together the loan packages for the buyers. So when an offer is accepted, it’s one seamless, efficient, transparent process for everyone. So that’s the that’s the goal. And the the main thing that we’re focused on is trust and efficiency.

Issa Hanna (03:32)
Definitely. And it’s such a great idea. So basically for people sitting at home, Zip Offer, you can you can open it up. It’s gonna have a whole bunch of off-market properties that are only exclusive to Zip Offer. They’ll be on only Zip Offer. And then investors, you want off-market properties, you go right on Zip Offer and you and you look right through it. And another great thing that’s gonna help the the sellers is is the investor rating.

Right. So the investors will be rated by Zip Offer depending on how many deals they’ve done and certain criteria. Can you shed some more light on that?

Glen Wyche (04:13)
Yeah, absolutely. We’re gonna have a star rating system for the investors so that when a offer is presented to a seller, they could see, you know, how many deals they’ve closed, percentage of deals compared to offers made. They’re gonna be able to see that we have verified their funds or their letter of credit, whatever they’re using to buy the property. So they’re gonna, you know, that’s all gonna go into the star rating so that.

You can see this guy’s closed 70% of his deals. This guy’s closed 98% of his deals. So when they’re evaluating the offer, they’re not just evaluating the numbers, they’re also evaluating the investor themselves to see that they are a strong buyer. So they could be confident that, you know, barring any title issues or something like that, the property is actually going to close and it’s not going to be tied up endlessly, you know, a daisy chain of wholesalers moving around trying to find a buyer.

They’re dealing with the actual buyer that’s gonna buy the property.

Issa Hanna (06:00)
That’s amazing. And you rate the investors and you also vet the sellers to make sure nothing crazy is going on. They make sure they’re allowed to sell the home. So can you shed some more light on how you’re vetting the sellers?

Glen Wyche (06:13)
Yeah, absolutely. Once the seller they submit their information, the property condition, photos like that, we run through it, verify everything. We do a a quick search to verify that they are the person on the deed or that they have the paperwork showing if it’s an inherited property, that they are the person with the authority to actually sell the property. So once the investor makes the offers, accept it.

They know they’re buying directly from the seller and not, you know, a wholesaler or some brother that wants to sell it or just see what they can get for the property, that they’re it’s the actual person that has the authority to sign the paperwork. So we want to we want to trust, trusted, transparent transaction from start to finish.

Issa Hanna (07:04)
Definitely. And and you seem to build exactly that with with with this revolutionary idea. and you don’t have a tech background. You come from a real estate background. and and I can see how a real estate guy can think of such a great idea. but you’re all the way over here now. I wanna find out how young Glen got bit by the real estate bug. so give us your story. How’d you start?

Glen Wyche (07:30)
Yeah, absolutely. I was actually an operations manager for a trucking company for many years, until COVID happened, of course. You know, a lot of things happened there. the company went through some changes, made a lot of cutbacks. And one of those cutbacks was my position, unfortunately. you know, I was there for 20 plus years and they let us go over a phone call. They said, Hey, we got to the big conference call on Monday, everyone be on there, blah, blah, blah, blah. We lot we get on the call.

Hey, by the way, everyone on the call, your job’s been eliminated. HR’s on the line. So that’s kind of had me a little flustered there for a little bit, but I’ve always been interested in it real estate. So, you know, I took the courses, the tests, got my license, and actually I got in at a great time because you know, right after COVID, the market just went crazy. You know, anybody with a license was making money. So that was a perfect time to get into it. And then through my experience dealing with

being a realtor, you know, I started working with investors, started learning the investment side. And that really, you know, that’s for me, that’s what interested me the most was investment property because everything is about the numbers, you know. With dealing on the retail side, it’s you know, I don’t like the carpet or I don’t like the layout or the cabinets or massive bedrooms too small, or it’s only a shower, not a tub. So you’re showing, you know, 15 properties before they pick one.

Well, with investors, I mean, you’ve got the property, they run the numbers. If it makes sense, boom, it’s a deal. If it’s not, you try to renegotiate or find another investor that has a different exit strategy that might work for him. So that’s really what got me interested in the investment side. And you know, that’s kind of where I came up with the concept for Zip Offer dealing with investors because the whole system is fragmented, you know, people.

You know, finding the deals is, you know, like it’s difficult. I mean, you gotta do a lot of marketing. You’re dealing with wholesalers or direct mail, things like that. Sellers, when they don’t have a property that retail ready, they don’t know what it’s worth. They don’t know who to trust. You know, they’re getting bombarded with calls, direct mail. So, you know, they’re all confused. So

That’s why I came up with Zip Offer, you know, a transparent, trusted process. They could go on there, list their property. They know they’re getting buyers, verified buyers that are making actual offers and not just lowball offers trying to get it under contract to sell it off. So that’s kind of where, you know, just the difficulties I was having on the investment side. I came up with Zip Offer, just make it simple and easy, efficient.

You know, a lot of times by the time the title company gets the contract, you know, they’re already several days in, or you know, two or three days in, they’re still going through the inspection part. A lot of deals fall apart because wholesaler can’t find a buyer, or the seller wasn’t honest about the condition of the property, things like that. So we’re trying to make that more transparent up front so the deals make sense for everyone and it actually closes. So that’s the main thing.

Issa Hanna (11:28)
Mm-hmm. And I love you said that the investors you know, the it’s gotta make the money, you know. That’s when it makes sense. I always say if it makes dollars, it makes sense. that’s basically the investors, that’s all what the investors do. So and I love that you’ve brought everybody in under one umbrella. as a fellow realtor, you you know how it is. When you make a deal with somebody, you’ve got to put the loan officer, the title company.

Glen Wyche (11:39)
Hey I like it.

Issa Hanna (11:57)
everybody on the same email chain. and then, you know, you gotta pray and hope that you update them or everybody updates you about the file. But with your app, I mean this thing is in one pipeline. Everybody can see in real time what’s happening with the file, which is a is a huge, huge benefit in in our world. So I’m super excited about this app. that’s why if you guys see me moving around like that, it’s just definitely revolutionary. I haven’t heard anything

like this. So I’m loving what I hear. but you you said you you’re a real estate guy. every real estate agent has some type of real estate nightmare sometime where something went sideways. care to share a story of a real estate nightmare with us?

Glen Wyche (12:44)
Yeah, I’ve definitely had a few on my few myself. You know, we had one investment property we’re trying to get sold. Thought we were dealing with the person that made the decision. You know, it was a horrible house. He was said he was trying to sell it because his mother was elderly. She her health was terrible. She’s trying to get her in long term care. So he’s trying to sell the house. I go I went there, you know, the thing was like a hoarder’s house, as you can imagine.

You know, it was built in the 70s. Looked like the roof was the original roof, the plumbing, the foundation was all wanky, you know, the tub, like the bathrooms didn’t even work. So I don’t even know how they were taking baths or whatever was going on there. And on top of that, they had cats. So you can imagine the smell. So you know, we finally found him a buyer that was willing to take the property off his hands. Turns out, you know, the sister was involved, but he never mentioned her from the beginning.

So once we got going, we got the title, you know, got the contract over the title, found out the sister was also on the deed. So we had to track her down. She was questioning everything because she didn’t trust the brother. I mean, it was a nightmare. So luckily the investor was very patient. So we had to keep delaying the closing. we finally got it sold, you know, we finally got the sister on board where she would.

sign off on it, but it was probably about a month and a half, whereas we had a 10 day closing originally. And so we finally got it all done. the investor did a great job renovating the house. I don’t know how he did it, but he did an amazing job getting it done. So, you know, that one actually did go through, but I’ve had some similar that fell apart because one was the wife

You know, she had gotten the property and the divorce, but the husband still had a claim on it where if she sold it, he got a percentage of the proceeds. He wanted, you know, when it came to get him to sign on the title, he wanted more of the proceeds. So he held it up for a long time, but somehow, you know, that deal fell apart, but we eventually got him on board. I found we were able to find another buyer for it.

So eventually it did work out, but that was maybe six, eight month process where he was just being a butthead not wanting to sign off. You know, when you get exes involved, it’s more about spite the rather than getting a little money.

Issa Hanna (16:02)
Divorces are the hardest to deal with in our field when you’re trying to make them come together and and he’s like, Yeah, you guys are gonna make money, come on. But I definitely relate to that and it’s sounds like a nightmare. But with Zip Offer now, this first situation that would have been totally avoided if this deal was on Zip Offer and your investor went straight there and and bought it because you would have vetted and you would have saw the sister would was on the title already. And that’s the the part of the game that that

Glen Wyche (16:10)
Yeah.

I yeah, absolutely.

Issa Hanna (16:32)
Zip Offer is is is cleaning up, you know, is is is that part exactly that confusion that, you know, you gotta trust what that person who’s selling you is saying. A lot of these people who who are selling to investors, the houses are dilapidated, like you said. and and, you know, they don’t know. They just wanna get rid of the house. They think they could slide one by you. They don’t know that the title company checks and whatnot. So

Glen Wyche (16:58)
Yeah, absolutely. Yeah, they don’t know the process of the it’s like like you said, they think they’re getting one over on you and they don’t. So it’s not just about sellers not knowing who to trust, it’s buyers or the investors. You know, they’re tying up their time and effort for nothing. So, you know, it’s a it’s better for them too, you know, it’s a trusted process for both parties.

Issa Hanna (17:21)
yeah, Zip Offer is just bringing these parties together. And like I said, everything’s out in the open. You can see in real time what’s happening. And that’s why I love this app. and then another thing, we’re talking about future plans. And you have some major vertical integration plan for Zip Offer. You plan on doing, you know, zip lending and zip just a whole bunch of stuff all in one where you can just come to Zip Offer and everything will be done.

under one umbrella. Can you give our viewers some more about that?

Glen Wyche (17:54)
Yeah, eventually we’d like to integrate title into the platform with Zip Title so that it’s more of a seamless process and we can actually run title from the beginning. you know, you’re not you’re not, you know, having to wait till the end to find out all of the issues. Also, we’ll have Zip Funding so the investors need that funding. We’ll have that available as well. Right now we’re working with.

Hard money and private lenders, we’re partnering with them so that we have that feature from the beginning, but it is, you know, it’s going to be different lenders competing for the buyer’s business. So even with the lenders, you know, they’re going to be on the front end of the transaction. So they could see the properties as they come online. They could begin evaluating the properties, what they’re willing to lend, what interest rate they’re willing to offer. Of course, on the end, it depends on the buyer.

You know, experienced buyer as opposed to a new buyer who’s gonna get different rates, things like that. But as soon as the buyer, as soon as the contract’s accepted, they have lending options right there available so that the transaction closes faster. They’re not having to, you know, go search for a lender, things like that after the contract’s done. It’s all done in real time. So every party’s coming together and each party can see the dashboard, the properties, the progress of the offers.

You know, everything is just a complete transparent marketplace infrastructure.

Issa Hanna (19:26)
That’s a revolutionary idea. surprised nobody else thought of this before, but

Glen Wyche (19:31)
Me too, I was surprised.

Issa Hanna (19:34)
It’s amazing. I mean, I’m just you’re telling me and I’m picturing, you know, one of my files going through where I I don’t have to update anybody. Everybody already knows what’s going on and it just it’s a lot easier. It’s just such a easier process.

Glen Wyche (19:48)
yeah, everyone can communicate. Everyone will communicate through the platform. like I say, you gotta upload the documents, they’ll go into Zip Offer, you know, title has access to them, the lender, the buyer. So it’s just more efficient. Like you said, you’re not having to create different emails for this and that, make sure everybody’s on, everybody’s right there in their portal, they can see everything, even the progress of the offers. They say, another offer submitted.

Another offer, another offer. So title and Lindy can see those offers as well. So they know what to prepare for whenever an offer is accepted.

Issa Hanna (20:27)
Definitely. I’m telling you, this this is gonna change the game, Glen. You you created something that you know, I I don’t want to keep talking it up so much. I promise he’s not paying me, you guys. Yeah, it’s gonna be huge. and with that, five years from now, where are we gonna see Zip Offer?

Glen Wyche (20:44)
You’re gonna see Zip Offer everywhere. And it’s gonna be like like I say, a complete package with title funding. We’re gonna have verified vetted contractors. So even new investors, they can go on Zip Offer, find trusted contractors.

we’re gonna have, you know, there’ll be, you know, like a guarantee, a Zip Offer guarantee where if a contractor does somehow for some reason rip you off, of course, they’re gonna be.

separated from Zip Offer, but we’ll reimburse you for any losses, things like that. So that if you use one of our trusted partners, you could rest assured you’re going to be made whole if something does follow through, fall through with one of those partners. So we want to have people that want to be a part of Zip Offer, that they have the same integrity, transparent idea that we do so that, you know, there’s just more business for everyone.

treat people right, you know, the business is gonna come. So we want to have also, you know, an educational section for homeowners. It might be the first time selling a home, you know, what to expect, how the process works, things like that. So they can go step by step. Okay, this should happen. This is what’s next. Same thing with investors, even newer investors, they can get on there. They could learn how the process works, how to make a good offer, what a good offer looks like. Even if you’re

A new investor, maybe you put up more earnest money or you know, you squeeze your numbers a little more to give a better offer to get yours accepted, things like that. You know, it’s a learning experience for everyone. Of course, we’re gonna have experienced investors as well. So they’ll be able to go in there. yeah, pick, you know, we could submit 10 offers, you know, buy 10 properties at once if they want. So it’s just a better system. Right now it’s so fragmented, you know.

The leads are coming from everywhere. All these lead vendors, you know, I’m sure there’s still a place for them, you know, for investors, but we have one marketplace where if you don’t want to deal with all that, you just go to Zip Offer. And these are exclusive off market properties. where, you know, we don’t want properties already on the MLS, things like that, because then you get more parties involved. You’re getting realtors and all of this involved. So

You know, there is a place for that. If you want to go that route, go that route. If you want off market exclusive, go to Zip Offer.

Issa Hanna (23:17)
Definitely. And that’s how some of the great inventions of our time have started. You know, somebody’s in the field and and they saw something missing. They they’re like, Why is it so fragmented? And, you know, you had the knowledge and the the chutzpah, you could say, to go out and and and put this thing together to where, you know, now you’ve got a fellow investor like me, like, man, I’ve never heard of this. This is very exciting.

I could see this thing taking over in the future in five years. A hundred percent, Glen. but for our new viewers, for people that are just starting out, you know, you were started in trucking and logistics, and then you pivoted to real estate, and now you’re you’re here with Zip Offer. So you’ve been able to build, you know about building networks, you know about growing business relationships. for our new guys that are just starting out and and they’re getting inspiration from you.

What advice would you have them on on how to do this?

Glen Wyche (24:16)
I would say for them, the best thing they can do is networking. You know, learn from people that are already doing what they want to do. Go to the investor events, even realtor events events because you’re gonna meet investors there, you’re gonna meet people that have experience in the field, even title companies, they have events. I would go to those. You could learn more about the process and what to look out for when you are buying property. So I think the biggest thing is networking.

And that’s what we’re going to build into Zip Offer as well. you know, a blog networking section where you can connect with other investors, ask questions, especially for newer investors. You know, what I do in this situation, or what would you do? I’ve got this property. You know, they can actually get advice from experienced investors. And same thing with homeowners, they can go on there and learn, you know, hey, I’ve got this property. What, you know, what’s the best route? What should I do? Even if listing the property.

on Zip Offer is not their best option. You know, giving them the options, the knowledge to know which way to go is certainly better than, you know, them putting it on there and not getting a deal they’re happy with. You know, I’d rather them get advice, learn, and then hey, spread Zip Offer name. Hey, you know, Zip Offer help me with this, even though you know I didn’t sell my property through them. So I think just learn as much as you can from

Experienced people.

Issa Hanna (25:47)
All successful people give some sort of that version, you know. so to shorten it up, you guys, if you’re new, get around somebody who knows what they’re doing, be quiet and listen to that’s how that’s how you soak up the knowledge.

Glen Wyche (26:02)
And watch podcasts like Investor Fuel. You guys have a lot of guests on here that give out a lot of knowledge. So you could definitely learn a lot from the podcast.

Issa Hanna (26:12)
Well, thank you for plugging us, Glen. And I’d like to do the favor and and return the plug. So I’m gonna give you the floor. If people are excited about Zip Offer and and want to sign up or want to get a hold of you, how could they get a hold of you?

Glen Wyche (26:26)
the fastest way is, you know, by text or give me a call. my number 817-255-0794. like I say, shoot me a text, call, whatever. we can connect. I’ve got I can send you my email if you’d rather do it that way as well. yeah, we’re just excited to get this marketplace going. we’ll should have it up and running regionally so that we can test it out.

Make sure all the kinks are out of it soon before we go nationwide. hopefully by the end of the year is the goal.

Issa Hanna (27:04)
Okay. So make sure you guys at home keep your eyes out for Zip Offer. End of the year. revolutionary. I mean, take it from a guy who’s closed hundreds of transactions, invested in a lot of real estate. There’s no space like this. This is definitely a revolutionary app. So make sure you check out Zip Offer and give Glen a call or contact Glen if you have any questions because he’s a very nice guy, very personable.

we’ve been talking for almost an hour now. I feel like I’m talking to a really good friend of mine. So Glen Man, thank you for coming on the show. We’re all out of time. I do want to extend an invitation for you to come back next year so we can check your progress with Zip Offer.

Glen Wyche (27:45)
Yeah, that would be exciting. See the progress and see where we’re at. Yeah, and I I really appreciate the opportunity of being on the podcast. Like I say, I’ve watched it for many years and I’ve seen the guests you had on here. That’s a pretty extraordinary guest. So I’m happy to be part of that.

Issa Hanna (28:03)
We are truly honored to have you. I’m super excited about Zip Offer. and I I really enjoyed this conversation. I cannot wait to have you back on our show. To our viewers at home, if you guys enjoyed my conversation with Glen and want to hear more just like it, make sure to hit like and subscribe. I talk to people every day that could bring us different knowledge on every aspect of the real estate industry. Until next time, the Real Estate Pros are out.