The DealMachine Real Estate Investing Podcast DealMachine Masterclass

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