David Lecko is a graduate of Missouri University of Science and Technology where he studied electrical engineering. He grew up in St. Louis, Missouri and has worked on a team that converted a Saturn VUE into a hydrogen fuel cell plug-in hybrid electric vehicle, worked as a network engineer at AT&T, a consultant at Accenture, and has built innovative technologies to grow fraternities and sororities.
David is currently the CEO of DealMachine — a real estate investing app that puts you in touch with any property owner via direct mail, phone, and email. Next time you are out and about and you see a house that looks abandoned or interesting, simply take a picture of it with the DealMachine App to instantly see who owns it. Then choose your contact method and get in touch with the owner and offer to buy it. DealMachine launched in the summer of 2017, and users report making as much as $25,000 over the last 4 months by looking for houses on their commutes that appear run down and contacting the owner via dealmachine and then selling the properties to an investor. Since using DealMachine, 8000 investors have downloaded the app and multiple users have quit their job with the income earned from using DealMachine.
David recently bought a house for $4782 using the app that he plans to rent for $800 per month.
David turned to real estate to free up his time in order to create apps like dealmachine that solve real-world problems. On a mission to find financial independence, with a single real estate deal, David was able to reduce his living expenses to effectively $0 earlier this year, freeing up his time to quit his 9-5 job and work on DealMachine.
What you’ll learn about this episode:
- How to get a wholesale or fix and flip deal for just $600
- How David bought a killer rental for $4,000 using his app
- How your database size is directly proportional to your bank account size
- Why procrastination can hold you back even though your strategy may be correct
- Why it’s important to work smarter than harder and how David created an app to streamline his research processes
- How David’s app fine-tunes the offer process by taking photos of homes and sending a notice to the seller
- Why organic growth can be best for a business, and how David’s app has managed to grow despite advertising issues
- Why renovations can be the toughest part of the real estate business
- How automation can lead to a higher volume, which in turn leads to better results
- Why some geographic locations, such as the south, can be easier to break into
- DealMachine, driving for dollars app. Special offer for podcast listeners, 14-day free trial plus $20 in deals credits toward bulk mail sending and skiptracing: http://www.bradchandler.com/dfd
- For my free e-book “Wholesaling Secrets: Discover This One Technique We Use to Close Over 200 Wholesale Deals Every Year Consistently,” text INVEST to 855-999-1616
- Free training: www.bradchandler.com/learn