Podcast Summary: The David Greene Show with Joe and Chris Vesce

Episode 93 | October 30, 2025

Episode Overview

In this episode of Real Talk Real Estate, host David Greene interviews brothers Joe and Chris Vesce, diving deep into a recent real estate deal they closed together in Florida. Their story unpacks the realities behind creative financing, partnership mechanics, last-minute lending hurdles, and the value of having an experienced team—illuminating both the challenges and rewards of real estate investing in 2025.

Key Discussion Points & Insights

1. Backgrounds in Real Estate and Career Journeys

• Chris’s Start:

  • Began real estate investing ~13 years ago as an Army officer stationed in Austin, TX, starting with a condo and turnkey rentals.
  • Used the “military method”—buy where stationed, rent out after transfer—to grow his portfolio (00:48).

• Joe’s Path:

  • Inspired by Chris, Joe entered real estate about 10 years ago with a West Palm Beach condo.
  • Progressed from single-family rentals to becoming a licensed residential agent and now balances firefighting with real estate sales (01:51).

2. Combining Day Jobs with Real Estate

• Both brothers note strong benefits to having a core career alongside real estate, citing trust among colleagues and a wider referral base.
• “There’s so many guys that do side gigs all the time. ...People hear it, you know—they’re like, ‘hey, we trust public safety... let’s trust this guy to sell our home.’” – Joe (03:32)
• David echoes this, highlighting how teaching and client-facing roles drive deeper learning and skill development (04:20).

3. Origin of Their Joint Deal

• Joe found a promising townhouse deal in Jupiter, FL through a former client looking to sell.
• Chris brought DSCR loan expertise and capital to the partnership, structuring a 50/50 LLC (05:26–05:57).

4. Financing Hurdles: The DSCR Loan Snafu

• Chris relied on experience with DSCR loans due to outgrowing traditional mortgage options.
• The initial lender approved them but, close to closing, flagged their down payment source—a cash-out refi from another property—as unacceptable (07:00–09:45).
• Chris took responsibility for the miscommunication, but time was running out:
  • “At that point, it didn't matter...I should have cleared it with them in the beginning that...we’re getting a small portion of the funds from a cash-out refinance.” – Chris (10:08)

5. Pivoting to The One Brokerage: How the Deal Was Saved

• On David Greene’s advice, Chris contacted The One Brokerage via their online intake, speaking with loan officer Ryan.
• Ryan carefully reviewed their file, kept close communication, and found a lender that could use the refinance funds for the down payment.
• Miraculously, Ryan closed the loan in about 10 business days—faster and at a lower rate than the original lender (13:31–15:15).
  • “Not only was he able to use the income, but it was a lower rate as well.” – Chris (15:15)
  • “We didn’t deserve to get as lucky as we did.” – Chris (16:24)

6. Deal Details

• Property:
  • 4 bed, 3 bath townhouse in Abacoa, Jupiter, FL, upgraded in 2024 with a built-in sauna and new hurricane windows (16:39–17:41).
• Furnishing Windfall:
  • Sellers included new furniture at no extra cost, saving the brothers an estimated $10–20k (18:09–18:15).
• HOA Considerations:
  • Monthly fee of ~$300, providing landscaping/pool/common areas; they discussed ROI risk from potential future increases (19:49–21:13).
  • “The advantages outweighed the disadvantages for us to push through, even though we didn’t have a good feeling about the HOA at the time.” – Chris (21:13)

7. Financial Performance

• Purchase Price: $500,000
• Rent: $5,000/month furnished (six-month term); would have been ~$3,800–$4,000 unfurnished (21:49–22:07).
• Equity: Appraised $50k over purchase price—hitting the “1% rule” for long-term rentals.

8. Lessons Learned & Takeaways

• Find the Deal First:
  • “The most important part...is finding the deal first. Once you find the deal, we could have always raised money other ways.” – Chris (23:02)
• Transparency with Lenders:
  • Joe underscores the importance of explicitly communicating funding sources upfront (23:54).
• Value of Experience Over Slick Sales:
  • “You just need to find...realtors and loan officers who have seen so many deals...they know how to get over [hurdles]. Experience is worth quite a bit.” – David (24:36)

9. Actionable Advice for Listeners

• Joe’s Tip: Location matters above all. Look for listings with low days on market in hot rental areas and trust in strong rental demand (27:17).
• Chris’s Tips:
  • Focus on “immediately alternate” locations—just outside of prime—but still desirable (27:47).
  • Target listings with bad photos; they may be “diamonds in the rough” ignored by others (28:51).

10. Notable Analogy: Real Estate and Dating

• “If every guy in the bar is going after the same girl...your chances decrease. You should go for the girl with the best personality who may not be the most photographic. ...That’s the property you want to go after.” – Chris (29:25)
• David expands: Over-marketed homes (like attention-seeking dates) become overvalued; the undervalued “ugly ones” reward the clever hunter (30:00–31:20).

Memorable Quotes & Moments with Timestamps

• “As long as you don’t do sell homes on your full-time job, then it’s okay.”
  – Joe (02:58)
• “You always think you know more than you do, and then you start teaching it and you realize, oh, I don’t really know that much at all.”
  – David (04:20)
• “Issues like this happen in lending more than people think...The loan officers always tell you, ‘oh yes...’ but they don’t know if it’s going to be a problem or not.”
  – David (10:45)
• “Not only was he able to use the income, but it was a lower rate as well.”
  – Chris (15:15)
• “We didn’t deserve to get as lucky as we did.”
  – Chris (16:24)
• “Location is everything for me. It really is.”
  – Joe (27:17)
• “Properties don’t sell well that aren’t photographed well. So not being afraid of listings that have bad photos...may be the diamond in the rough.”
  – Chris (27:47)
• “You should go for the girl with the best personality...that’s the property you want to go after.”
  – Chris (29:47)
• “You get a really good house that isn’t photographed as well, is not getting as many phone calls. They’re going to treat you so good.”
  – David (30:00)

Key Segment Timestamps

• [00:48] – Chris’s intro to real estate
• [01:51] – Joe’s entry and agent experience
• [03:32] – On careers, networking, and trust
• [05:26] – How the brothers found the joint deal
• [07:00–09:45] – DSCR loan snag and fallout
• [13:31–15:15] – How The One Brokerage’s Ryan saved their deal
• [16:39–17:41] – Deal specifics: Property profile and upgrades
• [18:09–18:15] – Furnished windfall and cost savings
• [21:49–22:07] – Rent details and purchase price
• [23:02, 23:54] – Biggest lessons and takeaways
• [27:17] – Tips for finding deals in the MLS
• [29:25–31:20] – David/Chris: The dating-to-real-estate analogy

Closing & Contact Info

• Joe works in Jupiter/Palm Beach/Martin County, FL. IG: @joe_veschi (31:58)
• Chris invests in Tampa Bay/St. Pete area as a side hustle. IG: @big.veschi (32:41)
• Shout-out to Ryan Iskijka, loan officer at The One Brokerage, who made the closing happen (33:06)

Summary Takeaway:
This episode arms listeners with critical lessons about creative financing, partnership dynamics, and the unpredictable realities of closing real estate deals in 2025. The Vesce brothers’ experiences offer both technical insight and mindset guidance—underscoring the timeless value of hustle, transparency, adaptability, and leveraging the power of both expertise and relationships to find, secure, and maximize great investment opportunities.