114: How To Get Strangers To Send You Real Estate Deals

Have you hired a driver to help you look for run down houses that quit on you? Here's why your driver quit!

This one's for anyone who's actually working on quitting their W-2 job to start wholesaling real estate: a strategy for making big checks from finding ugly houses.

If you've got a solid W2, you can hire someone to look for run down houses for you.

There's 3 payment structures for hiring a driver to look for run down houses.

I will tell you why your past drivers have quit, and how to hire and retain them going forward.

I've had the same driver with me for 3 years, and have coached hundreds of DealMachine team members on doing the same.

Summary

In this episode, David Lecko discusses the different payment structures for hiring a driver for driving for dollars in real estate wholesaling. He explains the three payment methods: paying by the hour, paying by the number of rundown houses found, and paying a bonus for closed deals. He emphasizes the importance of setting expectations, ensuring accountability, and having regular check-ins with the driver. Lecko also provides tips for screening and testing potential drivers and highlights the significance of having a contract to outline the payment structure and protect both parties. Overall, this episode provides valuable insights for anyone looking to hire a driver for driving for dollars.

Takeaways

• There are three payment structures for hiring a driver for driving for dollars: paying by the hour, paying by the number of rundown houses found, and paying a bonus for closed deals.

• Paying by the hour is often the most effective payment method as it provides stability for the driver and ensures they are motivated to work consistently.

• Setting clear expectations and having regular check-ins with the driver are crucial for maintaining productivity and accountability.

• Screening and testing potential drivers before hiring them can help ensure they are serious and committed to the job.

• Having a contract that outlines the payment structure and other important details is essential for protecting both parties and maintaining a professional relationship.

Key Talking Points of the Episode

00:00 Introduction

01:18 What payment methods work best for hiring drivers to drive for dollars?

02:03 Why is it not ideal to only pay a finder’s fee for drivers building you a list?

04:05 What is the best way to pay drivers to drive for dollars for you?

05:07 When would it be practical to not pay by the hour?

06:16 How can you make the most of paying someone by the hour to drive for dollars?

07:10 What will make people want to drive for dollars for you more than for other jobs?

08:03 Why is it important to set the right expectations with drivers you’re going to hire?

09:07 Why is it important to meet with your drivers regularly once they start working with you?

11:10 How will this strategy work for you as a real estate investor?

12:47 What strategy do we use to make sure the drivers we hire are serious about the opportunity?

14:37 What kind of contract can you use to secure your working relationship with your drivers?

Links

Podcast: 075: Make $10k-24k from Certain Down Houses with David Lecko

https://podcasts.apple.com/us/podcast/075-make-%2410k-24k-from-certain-down-houses-with-david-lecko/id1667656532?i=1000635664435

Podcast: 065: How to Get Your First Deal in 7 Days with David Lecko

https://podcasts.apple.com/us/podcast/065-how-to-get-your-first-deal-in-7-days-with-david-lecko/id1667656532?i=1000633061788

Free Resource: Driver Contract

https://www.dealmachine.com/drivercontract

David's Social: @dlecko https://www.dealmachine.com/pod