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Show Summary
In this conversation, Jerry Jackson, CEO of GivePayAI, discusses his journey into the real estate and payments industry, the evolution of payment systems, and the innovative AI solutions his company offers to real estate professionals. He introduces REINA, an AI negotiation assistant designed for real estate investors, and emphasizes the importance of strategic partnerships and outcomes in business.
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Investor Fuel Show Transcript:
GivePay AI – CEO Jerry Jackson (00:00)
Yeah, absolutely. So it’s a great question. Glad you asked. So REINA, we’re super excited about it. It stands for Real Estate Investor Negotiation Assistant, which is, of course, it means queen in Spanish. obviously, of our Spanish real estate investors loves that. And so we’re actually building that and beta testing that here this month with a particular client. But that’s going to be available to more real estate investors.here in the next 30 to 60 days. But it’s an exciting new AI system with multiple AI agents that essentially reaches out to realtors and it makes them offers of course below market.
Dylan Silver (02:12)
Hey folks, welcome back to the show. Today’s guest is the founder of GivePayAI, which is a platform that unites AI and payments to help real estate investors and folks across a spectrum of different businesses excel in business. Please welcome Jerry Jackson. Jerry, welcome to the show.GivePay AI – CEO Jerry Jackson (02:35)
Hey, thank you, Dylan. Appreciate you having me on today.Dylan Silver (02:38)
It’s great to have you on here. And I always like to start off at the top really by asking folks how they got into the real estate space. But in this case, we have so many different use cases for this. How did you get into real estate AI and and with give pay specifically, right?GivePay AI – CEO Jerry Jackson (02:54)
Yeah, great question. actually kind of have that rich dad, know, poor dad story, the Robert Kiyosaki kind of story. You grew up, a best friend, have a best friend that is big in real estate. His dad was huge in real estate growing up. You know, I grew up kind of poor and, you know, his dad would pick us up in a Rolls Royce at school and it was a public school. But his dad had airplanes and, you know, all the cars and everything. So I was super, of course, impressed by all of that.And growing up with him helped me kind of see the wealth and the opportunities that real estate provides. So when I was in my, I kind of moved out at early age. I was moved out at 16 and then got myself guardianship, all that stuff. not many people would rent an apartment to a 16 year old. But this guy did. This guy had apartments, obviously. And so he rented this apartment to me. And when I was 30, I bought that apartment complex.
Dylan Silver (03:40)
Yeah, you can.GivePay AI – CEO Jerry Jackson (03:49)
It was a small apartment complex, it’s not overwhelming. But that was kind of like one of my first decent sized deals. I bought a number of rent houses, did a bunch of flips in my 30s, ⁓ and then shifted into payments. ⁓ in around 2010, I founded a company called I Give Here with Switch Commerce, which is a large ATM processing company. I’ve kind of been in the payments fintech space for many years.You’ve probably seen all these gift cards ⁓ in the grocery stores. ⁓ Income is the big aggregator of that. And I was a director there for Income for many years and helped basically set up some of those national accounts and then worked for Bank of America, large corporate, and payments. And so that payment background runs deep. ⁓ I built ⁓ GivePay Commerce, which is the parent company of GivePay and GivePay AI.
Dylan Silver (04:21)
Yeah.GivePay AI – CEO Jerry Jackson (05:31)
I founded the company in 2017 and we launched the world’s first digital gift card mall for ATMs, automatic teller machines. And we list that in a thousand locations and then COVID hit. And so nobody wanted to touch an ATM during COVID. So we kind of pivoted, went more into payments. And I’ve been doing payments ever since. We’re partnered with Clover Square, SpotOn. These are leading point of sale systems and brands for payments.Dylan Silver (05:40)
Wow.It’s raining.
GivePay AI – CEO Jerry Jackson (05:58)
We have a Clover app out there. We’re a Clover developer. And we have a unique sort of cash discount program for retail and restaurants and things like that. But on the real estate side, you know, it’s always been kind of a hobby and kind of a near and dear thing to my heart. And we started building AI solutions a little over a year and a half ago or almost a year and a half ago. And one of our first clients was actually a prominent real estate investor in Little Rock, Arkansas.And as we got started, we just built the first things that made sense. Like we built, you know, like what everybody did, we built AI agents that would automatically manage your Facebook or social media. And, you know, it would answer those questions. But then we started building, of course, know, web funnels and AI agents that answer phone calls. And so now she’s got multiple AI assistants that do a number of things, ⁓ qualify leads, help her buy more properties.
and, you know, updater CRM, all that stuff. So we’re, we’re, we’re a big fan of all the many things that, you know, that AI can do for, for the real estate space. Not just real estate investors. We, we also focus on wholesalers, broker offices, you know, brokers, busy brokerage offices, obviously realtors, property managers. I call it the top, you know, top five, you know, real estate pros.
Dylan Silver (07:08)
Yeah.GivePay AI – CEO Jerry Jackson (07:19)
And we focus on those top five on the real estate side and have solutions for all of those. And you can, of course, check out our website to see all that at getpayai.com or getpay.com. So really it’s two brands. We do payments. We do AI and we bundle it. ⁓ And so we uniquely offer discounts and we subsidize our AI solutions when someone signs up for us with payments.Dylan Silver (07:44)
I want to ask you about the payment background because this is a world that I’m really fish out of water and I’m a real estate guy and of course I’ve used the point of sale tablets and when they flip it around right and everyone has been seeing these now but you have a background in that space and then navigating through it through through COVID and then you saw where this potential unity could be with AI when it comes topayments specifically. At what point in time or what year was it or what tail end of what decade was it when everything started to go from old, I’m thinking like cash registers to now we have this point of sale and you hit your phone to it and it pays. At what point in time really did that become the norm?
GivePay AI – CEO Jerry Jackson (08:32)
my gosh.Well, I mean, think, you payments have been around since the 90s, you know, the first, you know, credit cards and, know, what a lot of people don’t realize is that, you know, Visa and MasterCard have buy rates. You know, they have a cost for industry, industry specific costs that varies by the merchant type, meaning the business type. So if you’re a real estate investor, a lot of people don’t realize this, but real estate investors qualify for a special discounted, you know,
credit card rate for accepting payments for rent, right? So if you accept, you know, rental payments above $500, you know, per transaction, if you’re a real estate investor or property management company, you qualify for a special rate. What a lot of people don’t realize, or lot of, you know, people in the real estate space don’t realize is that there are merchant service provider companies like myself, and we all make money. That’s how we, and it’s a passive income. So it’s very much like real estate and that, you you make money while you sleep.
So if one of our real estate ⁓ clients that does payments accepts a rent, we get a little piece of that rent, right? It’s a small piece. It’s like, half a percent to a percent depending on how we’re setting them up and how they’re set up. But they save a lot of money with us because we give them those discounts, right? We automatically give them those discounts.
They qualify at those lower rates. We make sure they’re also set up correctly. That’s key. think a lot of times, you know, people will just start accepting payments for rent or what have you. And if you don’t have the right sort of sick code set up and you don’t have the right gateways or, you know, a lot of the tools out there like Rent Manager and those tools, they can help you get set up correctly. But if you have a partnership with a company like ours that can provide, you know, a free AI assistant to answer your phones and…
kind of buy back your time and do all the things that AI can do, but you also bundle that with payments, you really kind of win-win, right? Because you save on the payment side and you have this tool that can help you in a number of ways to scale and grow your business.
Dylan Silver (11:12)
Are folks coming to you and asking questions about, you know, how to market as well and hey, how can I integrate with the payments and also with the material that I currently have, the marketing that I currently have and then I like the AI agent idea but I’m not familiar with it. we prototype this out or are they coming to you with a really specific vision? Hey, I want to do calendar booking and that’s it and these other things that are interesting to me but this is the main thing that I’m lookingGivePay AI – CEO Jerry Jackson (11:38)
Yeah, that’s a great question. So, you one of the things that we do when we have a new client intro call, it’s basically a free AI, you know, discovery call. It’s an AI audit. We sit down with the client for at least 30 minutes to an hour and just understand, you know, what their goals are, what their needs are, you know, what’s the outcome. We don’t really, I like to say we don’t sell payments, we don’t sell AI, we sell outcomes, right? So if the outcome is that you want to make more money, of course, we all do.But the outcome is that you want to use that money to do more. You want to go on more vacations. You want to spend more time with your family. You want to, you know, the outcome is you want to, you want to have more flex time to scale your business. You know, that’s really, I think what, what we try to do is we try to partner strategically, find out that strategic initiative for the client, right? For our, our, our real estate investors or brokers or, or wholesalers, et cetera. ⁓ And so understanding that helps us tailor the solution.
We have a number of ways that we can buy back the time that someone needs to create those outcomes. so, for example, a good example, a real estate investor is looking to go on a two week vacation. Actually, we had one that just went on a two week vacation. And one of the challenges that she had prior to…
Dylan Silver (12:51)
Yeah.GivePay AI – CEO Jerry Jackson (12:59)
adding AI Automations and really AI systems to her business was it wasn’t about the money, it was about the hectic things that you had to keep up with, right? And so by having systems in place, automations that manage email, automations that handle your phone calls, and not just like answering the phone and qualifying leads, but like getting people to the right answersquickly, right? So like a ⁓ renter who needs a plumbing leak fixed, there’s no need for that to go to the investor, right? That could go straight to the plumber, right? Or the maintenance guy, right? So like all of our AI assistants are tailor-made for that purpose to buy back a client’s time and give them more freedom to do more. And that’s really what it’s all about for us, really, is helping them achieve ⁓ that outcome.
Dylan Silver (13:37)
Right?Right.
I want to ask you about Reina, right? We were talking about Reina before hopping onto the podcast here and it’s geared towards real estate investors. It’s an AI agent geared towards real estate investors and it does does it do outbound as well? It does lead generation on some capacity and makes offers. Is that what it’s doing?
GivePay AI – CEO Jerry Jackson (13:57)
it’s.Yeah, absolutely. So it’s a great question. Glad you asked. So REINA, we’re super excited about it. It stands for Real Estate Investor Negotiation Assistant, which is, of course, it means queen in Spanish. obviously, of our Spanish real estate investors loves that. And so we’re actually building that and beta testing that here this month with a particular client. But that’s going to be available to more real estate investors.
here in the next 30 to 60 days. But it’s an exciting new AI system with multiple AI agents that essentially reaches out to realtors and it makes them offers of course below market.
we can, based on the realtors sort of questionnaire that we set up the first time, we can pivot that so that it’s 10 % off a list, 30, 40 % off list, whatever the real estate investors sort of.
know, threshold is for that. But the real value of that system is that it does the negotiation, a lot of the steps for them, right? So it reaches out to, you know, to the agents. We’re directly integrated with Realtor.com and Zillow.
And of course we have a wide, you know, network of ⁓ being able to reach out to thousands of agents in a given week ⁓ on thousands of properties. And so in an automated way, we can very quickly scale offers.
and scale them ⁓ at below market price. And it’s a professional system that automatically attaches a letter of intent. ⁓ And of course, ⁓ also, we don’t always have their email. Zillow doesn’t expose emails. We have another way of getting those when we don’t have that exposed. ⁓ what we do, we’re very good at TCPA and A2P text messaging. And so,
Dylan Silver (16:26)
Wow.It’s huge.
GivePay AI – CEO Jerry Jackson (16:45)
It’s huge, a very important part of real estate AI and managing speed to lead and all that. for us, it’s about connecting with that realtor. We use it in all aspects really of the client management, whether it’s a seller, a buyer, we touch base with them via text in an automated way. Our AI assistants are both voice and text, right? So there’s two engines there, like they’re.They’re combined, but they’re separate in that they have their own objectives.
Dylan Silver (17:15)
Will it dooutbound to folks to make offers via voice as well or it’s not there yet?
GivePay AI – CEO Jerry Jackson (17:22)
absolutely. Yeah, it could do that. The key to outbound voice is you have to have opt in, right? So in order to be HUP compliant, you have to have opt in. So what we do first is a touch point via text. And so ⁓ I won’t give up all the secret sauce, but we have a special way of opting in via text. Once they’re opted in, then we can voice call them, obviously with AI or with a virtual assistant, you know, real person. But the AIDylan Silver (17:28)
Yeah.Yeah.
GivePay AI – CEO Jerry Jackson (17:51)
Voice call is amazing. The tech on that is, it’s so good now that you can’t tell that it’s not human, right? But the real value is that you’re capturing all this data, right? You’re capturing it into your CRM, your pipeline and your cell cycle so that you can keep track of it all and qualify more deals. But the Raina project is super exciting. I’d love to work with some more investors on that project. ⁓Dylan Silver (18:00)
That is incredible.GivePay AI – CEO Jerry Jackson (18:19)
We look at it from a strategic partnerships. We don’t take everybody. So we are selective. We work off of a win-win outcome percentage basis. So in other words, we make it very affordable to get started, but we look for a small percentage of the transaction. So we actually participate in the upside of the real estate transaction. And so that’s win-win. We were able to help find the real estate investor more deals.Of course, this is great for realtors too, they close more deals. that’s what it’s all about for us is the win-win relationship and helping build up that outcome that we’re trying to help everybody achieve.
Dylan Silver (18:59)
I think the concept of being able to voice call folks ⁓ outbound once they opt in, that is smooth. And we were just talking, ⁓ me and some other wholesalers, agents, people in the AI space, felt like maybe not even half a year ago about how we felt like the voice wasn’t necessarily there yet. And now here we’re talking with you and it’s indiscernible in many cases, the AI.GivePay AI – CEO Jerry Jackson (19:21)
Sure. Yeah.Dylan Silver (19:27)
It’s very exciting to see where this is going. And every time I have a conversation with someone like yourself, I get another idea. Okay, I got to stay on the cutting edge so someone doesn’t pass me up over here. We are coming up on time here though, Jerry. Where can folks go if maybe they feel like they may need an AI solution or they’d like to reach out to you?GivePay AI – CEO Jerry Jackson (19:44)
Yeah, I’m just, you go to our website, givepayai.com or givepay.com either way, easy to remember G-I-V-E-P-A-Y, right? So, you know, we’re super excited ⁓ to, you know, help and work with the real estate, you know, pros out there. So we’ve got a wide variety of sort of custom solutions that, you know, help, you know, wholesalers, brokerage offices, you know, each of these, you know, we know there’s all obviously the same goal and that they all want to make more money, butThe way you go about it and the tools that you use, it’s quite different. Whether you’re a wholesaler versus an investor who buys properties, not wholesaling, but to invest, that approach strategy is different. Brokerage offices, your goal is probably to manage calls for a busy office of realtors and manage contracts. Because it’s not just about qualifying leads and getting people to the right place.
Also managing all the paperwork, right? So these AI assistants can do an amazing job with the tools now with, know, tools like RAG that can help them, you know, retrieve information very quickly via AI and via AI assistants. So we’re excited about what AI and payments can do. You know, also bundling payments with the solution makes it super affordable, right? Because you get, if you bundle payments with it, you get a lot of that stuff for free or subsidized.
But the real value is you can also save quite a bit on payments if you’re doing real estate. So we’re happy.
Dylan Silver (21:14)
I learned alot through this conversation. had no idea that, that we were at that point with voice and then the intersection between payments and AI. seems like now that I’m thinking about it, a no brainer, but I just, no one had had a voice this to me before. So I’m glad we cross paths. ⁓ It was great to have you on the show here today, Jerry. Thank you so much for coming on here today.
GivePay AI – CEO Jerry Jackson (21:38)
Yeah, super, super thankful for having me. It’s been great. Looking forward to hearing more about what Investor Fuel’s doing and the Mastermind stuff. It’s super exciting what you guys are doing. You guys are amazing for the real estate community. So thanks again for having me.
