The DealMachine Real Estate Investing Podcast

If you want financial freedom, you may have heard several options like selling solar panels, trucking, selling amazon items, starting a pottery company.

Mike shares his experience and insights on starting a wholesaling business in real estate. He discusses his motivation for getting into wholesaling, the challenges he faced as a young entrepreneur, and the benefits of the real estate industry. Mike emphasizes the importance of staying focused, building a team, and balancing investments with enjoying life. He also highlights the advantages of real estate as an appreciating asset and a source of passive income. Mike concludes by sharing his social media handle and expressing his appreciation for the value provided by Deal Machine.

Takeaways

• Wholesaling in real estate is an attractive business model with low overhead and the potential for high profits.

• Staying focused and building a team are key to success in wholesaling.

• Real estate is a conservative and appreciating asset that offers multiple benefits, including cash flow, appreciation, leverage, and tax advantages.

• Balancing investments with enjoying life is important for long-term happiness and fulfillment.

• Deal Machine is a valuable software for real estate investors, providing efficient lead generation and skip tracing.

Chapters

00:00 Starting a Wholesaling Business in Real Estate

03:19 Challenges and Motivation as a Young Entrepreneur

08:36 The Benefits of the Real Estate Industry

13:45 Balancing Investments and Enjoying Life

15:18 The Advantages of Real Estate as an Appreciating Asset

David's Social: @dlecko

https://www.dealmachine.com/pod

Ryan's Social: @heritage_home_investments

https://www.heritagehomeinvestments.com/

Statton Paris shares his journey from working in sales at a car dealership to becoming a high-earning real estate wholesaler. He started wholesaling two years ago and made almost $10,000 on his first deal. He was motivated to start wholesaling because he wanted more control over his time and didn't enjoy the work and long hours in the car dealership industry. Statton primarily uses driving for dollars to find deals and has had success with door knocking and leaving letters on doors. He emphasizes the importance of making low offers and negotiating with both sellers and buyers to increase assignment fees. His future goal is to reach six figures a month and provide a better life for his family.

Key Talking Points of the Episode

00:00 Introduction

01:30 Why did Statton decide to get into wholesaling real estate?

02:47 How is wholesaling real estate different from working in the mortgage space?

03:55 What does Statton like most about wholesaling real estate?

04:49 How did Statton find his first wholesale deal?

05:41 How did Statton approach leads after door knocking?

06:39 How many doors did Statton knock on to find his first wholesale deal?

07:47 Where did Statton find a buyer for his first wholesale deal?

08:23 How did Statton identify how much to offer on the property?

10:06 What is Statton’s second wholesale deal like?

11:49 What was Statton’s experience like with flipping properties?

14:22 What does the future like for Statton’s real estate business?

15:39 What should you focus on improving when dealing with buyers?

17:55 How do you get better in dealing with sellers?

20:11 What are Statton’s goals for the future?

24:02 What is Statton’s advice for new investors?

If you want to 10x your income and replace your w2, our guest today explains how he went from making $500 per week working at a restaurant to making $15,000 per week marketing for solar panel leads. This did not happen overnight, but he did a very similar style of marketing to wholesaling real estate, which is why we thought you'd enjoy this episode a lot.

Key Talking Points of the Episode

00:00 Introduction

01:11 What is Kyle’s background?

03:15 How does Kyle market to homeowners?

04:30 How does Kyle manage his team?

05:14 Why did Kyle decide to get involved in the solar business?

07:07 How long did it take for Kyle to replace his $500 salary?

08:16 How does Kyle help solar installers with marketing?

09:45 What are the benefits of working this business model?

11:08 How does Kyle manage the leads they generate for the solar industry?

12:38 How can you get involved in lead generation for the solar industry?

14:45 What type of properties does Kyle target for their solar deals?

16:42 How many projects would it take to make $15K with Kyle’s deal model?

18:12 What does the future look like for Kyle and his team?

Links

Instagram: Kyle Grant

https://www.instagram.com/kyle__grant/

Instagram: David Lecko

https://www.instagram.com/dlecko

If you want more income and time freedom, our guest demonstrates the potential of wholesaling real estate with a total of 500 deals in 8 years, while moving to a new city every year to support his wife's military career.

Key Talking Points of the Episode

00:00 Introduction

01:06 How did Derek find his first wholesale deal?

02:55 What made Derek decide to get involved in real estate?

04:07 Why is Derek only focused on wholesaling in one market?

05:13 How has Derek wholesaled properties through the years?

06:00 What was Derek’s smallest assignment fee ever?

08:32 How has wholesaling changed over the last 8 years?

09:28 Why shouldn’t you build a business around free leads?

10:13 What are the best ways to find off market deals?

11:34 What are the lists that Derek sends marketing to?

12:11 How does Deal Machine help cut costs in skip tracing?

15:04 How can you get in touch with Derek?

Links

Youtube: Real Estate Dad

https://www.youtube.com/@TheRealRealEstateDad/

In this conversation, David Lecko and Ryan discuss advice from Eric Stark, a full-time real estate investor with over 600 deals under his belt. They cover topics such as working a specific strategy, specializing in one thing before adding to it, finding a mentor, making written offers, developing off-market lead generation systems, using profits to keep good deals, and being clear on goals and enjoying life. They emphasize the importance of focusing on one strategy, building relationships with city officials, and being mindful of personal and business finances.

Key Talking Points of the Episode

00:00 Introduction

01:10 How did John find his first wholesale deal?

02:23 What strategy did John use to market to sellers?

03:13 How did John analyze the value of the property virtually?

04:03 How did John come up with the offer price for this property?

05:41 What response did John get from his offer?

06:26 How does John plan to find a buyer for his first wholesale deal?

07:32 What is John stuck on with this wholesale deal?

08:23 What makes finding a buyer challenging?

10:23 How can real estate agents help you re-negotiate the price with the seller?

11:41 How did John come up with the ARV for the property?

13:48 What would the numbers be if we ran them in Deal Machine?

16:15 How can John make the deal work?

Real estate agents and real estate wholesalers do not always see eye to eye, but it is possible to actually work well together. Today we speak with our co-host and wholesaler, Ryan Haywood, along with his real estate agent, Chuck Davis, to find out how they are able to better serve clients by working together.

Key Talking Points of the Episode

00:00 Introduction

01:11 How can wholesalers and realtors work well together?

03:41 How could realtors benefit from working with wholesalers?

05:17 What should realtors know about working with wholesalers?

07:37 How can realtors help wholesalers find good off-market deals?

10:29 How did Chuck and Ryan start working together?

12:49 What are the benefits of working with realtors?

16:16 Why does it make sense for realtors to work with wholesalers today?

18:16 When should wholesalers start working with realtors?

20:42 How can you get in touch with Chuck?

Links

Facebook: Chuck Davis

https://www.facebook.com/chuckdavisrealestate

You're here because you want to break the shackles of your nine to five and start a business that gives you more time freedom in your life. The proven business model we're covering on this podcast is wholesaling real estate, which is a strategy where you find a rundown house, you pass it to an investor to make $10,000 like our guest Andrew did exactly a year ago. And he's now done about eight deals so far. And he's finding out that wholesaling is a great strategy, but there's something new he learned that he's actually doing even more of called Novations. So he's gonna talk about what this real estate tool is and how you can use this in your tool belt as a real estate wholesaler so that you can help more people and make more money. My name's David Lecko. This is the podcast for 10Xing your income and replacing your W-2 through wholesaling real estate. I created a process called Deal Machine that's helped people close 10,000 deals on all 50 states in the last seven years.

Key Talking Points of the Episode

00:00 Introduction

01:15 How did Andrew find his first wholesale deal?

02:00 Why did Andrew decide to build a buyers list first?

03:23 How did Andrew meet with cash buyers he added to his list?

04:20 What was the first list that Andrew marketed to?

05:34 What is Andrew’s background?

06:32 What was it like when Andrew first started wholesaling?

07:46 How many deals has Andrew done since he started wholesaling?

08:42 What was the biggest surprise Andrew had in wholesaling?

10:40 How is a novation different from wholesaling?

12:30 When would a novation work best for a deal?

14:10 Why should you do 3 novations every 1 wholesale deal?

15:05 Why would novations work better than listing with a realtor?

16:07 What is Andrew looking forward to?

17:28 How has Deal Machine helped Andrew in his real estate business?

In this conversation, David Lecko and Zach Booth discuss the driving for dollars strategy in real estate wholesaling. They cover the four categories of properties to look for: rundown properties, absentee owner properties, owner-occupied properties, and corporate-owned properties. They emphasize the importance of adding any properties with signs of distress to your marketing list, regardless of ownership type. They also discuss the effectiveness of different marketing strategies for each category and the importance of prioritizing your time and resources. Overall, the driving for dollars strategy can be highly profitable and allows for scalability and freedom.

Key Talking Points of the Episode

00:00 Introduction

01:15 What are the 4 kinds of properties to look for when driving for dollars?

03:05 Why is it worth marketing to owner-occupied properties?

04:49 What is the best way to market to corporate-owned properties?

07:07 How can you find contact information for corporate-owned properties?

10:45 Why is it important to still drive for dollars in person?

12:30 What are the best ways to make the most of your driving for dollars list?

13:40 How can you make driving for dollars more convenient with Deal Machine?

15:08 What are the most important kind of properties to market to?

17:01 Why are owner occupied properties more profitable than the rest?

18:36 How can the Driving for Dollars Mastery podcast help you get started?

Links

Podcast: Driving for Dollars Mastery

https://podcasts.apple.com/in/podcast/driving-for-dollars-mastery/id1570543403

Dillano shares the story of a recent real estate deal where he made a $90,000 assignment fee in just six days. The deal came from a past relationship and involved a property that was about to be foreclosed on. Dillano negotiated with the seller and offered assistance in finding a new place to live. He also implemented a seller holdback, where the seller would receive half of the net proceeds upfront and the rest after moving out. Dillano celebrated the success by paying off debt and reinvesting the money into marketing for more deals.

Key Talking Points of the Episode

00:00 Introduction

01:01 How did Dillano find his most recent wholesale deal?

03:40 What strategy did Dillano use to get the deal under contract?

06:10 What is the best way to approach sellers?

08:22 Why is it important to offer help beyond the transaction?

09:53 What is a seller hold-back?

11:40 What were the numbers on this deal?

13:40 Why is it important to celebrate your wins as a wholesaler?

15:02 What is the best way to manage your profits?

18:24 What is next for Dillano?

20:00 How can you get in touch with Dillano?

21:45 What is the value of doing JV deals with other investors?

Links

Instagram: Dillano Medina

https://www.instagram.com/realestatelano/

Podcast: 094: 3 Cold Calling Tips Learned from 60 Wholesale Real Estate Deals Dillano Medina

https://podcasts.apple.com/us/podcast/094-3-cold-calling-tips-learned-from-60-wholesale-real/id1667656532?i=1000640636366

Yash Sampat shares his experience in wholesaling real estate, including his strategies for finding deals and buyers. He discusses how he uses text blasting and cold calling to generate leads, with an average conversion rate of 1%. Yash also explains his process for evaluating properties and making offers, which includes using software like PropStream and Deal Machine. He emphasizes the importance of communication with sellers and adjusting pricing when necessary. Yash plans to transition full-time into wholesaling and sees it as a lower-stress alternative to his agency business.

Key Talking Points of the Episode

00:00 Introduction

01:01 How did Yash find his first 3 wholesale deals?

02:15 How many text messages did Yash need to send to get leads?

03:01 How much does Yash make in assignment fees?

04:16 What does Yash’s process look like after speaking to a seller?

05:03 What formula does Yash use to make an offer on a property?

06:52 How does Yash handle seller conversations?

10:02 How does Yash present his offer a seller?

11:07 How much time does it take for Yash to close on his deals?

12:48 Where does Yash find buyers for his wholesale deals?

14:27 How did Yash learn about wholesaling?

16:24 What does Yash’s agency do?

17:48 What does the future look like for Yash?

20:57 What is Yash’s advice for people getting into wholesaling today?