197: Is $12k /mo Passive Income Possible (Is it really passive?)

If your goal is to own so much real estate that you get passive income and you can hire a manager to totally not think about it and retire on a beach, this episode is for you because it starts with wholesaling. Before you can buy that rental properties and put 25 % down on each property, you need to earn more money and you need to find skills to figure out which properties are going to cash flow and be good deals. So in this episode, I get interviewed by Jimmy Rex. He's asking me about my rental portfolio, which brings me $33 ,000 a month in top line revenue and $12,000 a month net. And so I'm going to talk about how I created a marketing tool that many of you wholesalers are using to find great deals and a tool that I use myself still to buy seven properties this year in 2024 alone, one that I made $125 ,000 on alone. So I hope you enjoy this episode and view it through a lens that will appreciate why you're wholesaling right now and what you can get to even if you're just starting out.

Key Talking Points of the Episode

00:00 Introduction

02:04 What is the story behind the beginning of Deal Machine?

07:30 What makes Deal Machine stand out from its competition?

08:51 How is AI impacting real estate investors today?

10:05 What does the future look like for real estate?

12:20 What are the current market trends we’re seeing in Deal Machine?

14:01 How can new investors use Deal Machine to start wholesaling?

15:50 What criteria helps us choose a market to look for deals in?

21:25 What should new real estate investors be focused on?

23:56 How should you start a conversation with a FSBO lead?

27:24 What is it like to know that Deal Machine helps change lives?

29:03 What does the future look like for Deal Machine?

30:54 How did we build the Deal Machine culture?

33:20 What is the importance of transparency in the success of a company?

37:13 What are the top markets to invest in today?

38:57 What is the biggest mistake people make in real estate investing?

Links

Instagram: David Lecko

https://www.instagram.com/dlecko

Instagram: Ryan Haywood

https://www.instagram.com/heritage_home_investments

Website: Deal Machine

https://www.dealmachine.com/pod

Website: Heritage Home Investments

https://www.heritagehomeinvestments.com/