Manage episode 377035860 series 1526602
David Lecko is the founder and CEO of DealMachine, the highest-rated mobile app to help real estate investors find off-market deals.
David created DealMachine in 2017 when he was new to real estate investing himself. He knew from reading that the best way to find off-market deals was to go driving for dollars and send direct-mail. He drove around, manually wrote down the addresses of distressed properties, and sent mail to the addresses he wrote down. One day, he realized he missed out on a deal because he failed to follow up with his leads. He knew he needed a solution to automate the process. So he wrote the first line of code that became DealMachine. Shortly after, he acquired his first rental property through driving for dollars and went on to build a $2 million rental portfolio with the DealMachine app.
David also co-hosts the DealMachine Real Estate Investing Podcast, which helps listeners start their journey to financial freedom through real estate.
In this episode we talked to David about how he got into real estate, building successful partnerships, challenges that investors face when it comes to acquisitions of off-market properties, why a seller would choose to sell off-market, off-market VS. listing with a broker and what makes DealMachine unique in the space.
Announcement: Join our Apartment Investing Mastermind
00:00 A true motivation to get started in real estate investing;
10:55 Building a successful partnership;
15:38 Main challenges when it comes to acquisitions of off-market properties;
22:16 Why would a seller choose to sell off-market;
28:13 Off-market VS. Listing with a broker;
21:20 What makes DealMachine unique in the space;
Announcement: Download Our Sample Deal and Join Our Mailing List
33:00 Round of Insights
Apparent Failure: Thinking that pleasing your boss is the way to make more money in his corporate job.
Digital Resource: ZoomOffers
Most Recommended Book: Humor Seriously
Daily Habit: Working out
#1 Insight for Finding Off-Market Deals: Talk to somebody in your market who’s had success and be persistent on finding the deals.
Best Place to Grab a Bite to Eat: Pasta Bar
Check out the DealMachine Podcast here.
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