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Episode 76: Simplicity In Real Estate Investing and Business with David Lecko

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Show Notes

Are you just starting in real estate and need help finding deals without spending $10,000-$20,000 for marketing? Don’t fret; David Lecko has a solution for you. David is the CEO of Deal Machine. They have developed software that helps people in real estate find deals without spending an arm and a leg on marketing. 

In this episode, David joins me on the show. He shares nuggets of wisdom. He shares four tips on how to find deals. They include:

·      Going through wholesalers’ listings to find out what’s off the market

·      Look up on Zillow to see what properties have been listed for over 90 days

·      Drive around your neighborhoods, and you look for rundown properties

·      Buy lists of absentees owned high equity properties

Listen in to hear more.

Kay Talking Points of the Episode:

[01:12] Getting to know David’s

[03:15] How David’s company people who are just starting out in real estate and don’t have big budgets

[05:46] How David’s app comes in handy

[08:08] What made David get into real estate?

[09:09] The cash flow games

[13:16] David’s partnership

[20:34] David’s goal for real estate and hiring a property manager

[23:23] How David balances work and life

[24:24] What inspired David to take up Improve classes?

[28:19] David’s six-pack

[36:53] Mistakes people in real estate make

[39:06] David’s message to anyone who would want to join real estate

[40:19] How people lose their shirts

[47:13] David’s favourite book

Quotes from the Episode:

“One thing I’ve learned over the years is that the simpler something is, the more likely somebody is going to do it.”

“Being a business partner is more serious in my opinion than being married in terms of the assets that you might have to split up. If you were to get that divorce, which happens just so often.”

“You can’t let your tenants talk you into renting to them, when they don’t qualify, you have to absolutely have a very strong rule.”

“You have to be comfortable being uncomfortable.”

“Surround yourself with successful people. They want to help people get where they are.”

“If you’re not communicating enough and you’re not reaching enough people.”

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