Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business Deal Machine: How This Game-Changing Tool is Revolutionizing Real Estate Investing
Dec 5, 2024
David Lecko, founder of Deal Machine, shares his fascinating journey from manually tracking real estate deals to creating a groundbreaking AI-powered tool. He discusses how technology, like satellite and street view analysis, revolutionizes the hunt for off-market properties. David emphasizes the importance of authenticity in sales and the need for consistent outreach to connect with motivated sellers. He also highlights the challenges of navigating market cycles, offering insights for both novice and seasoned investors looking to elevate their real estate game.
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Deal Machine Origin
- David Lecko, inspired by "Rich Dad Poor Dad," sought off-market deals.
- He created a mobile app to track properties and automate postcard mailings.
Minimum Marketing Efforts
- When driving for dollars, find at least 500 properties and mail them six times each.
- New investors should double these numbers for practice and increased chances.
Distressed Properties and Life Changes
- Run-down houses often indicate long-term issues and owners' future motivation to sell.
- Consistent marketing ensures you're the first contact when owners face life changes necessitating a sale.
