199: Is $500k in 6 Months Possible (Too Good To Be True)?

If you've ever wondered if some success stories sound too good to be true, this podcast is for you. When I built DealMachine eight years ago, I was building it as a marketing tool for my own investing. I had done three deals or so at the time that DealMachine started taking off from other people that wanted to use it. And I remember Krystal and Dedrick Polite, who now have their own house flipping TV show 50/50 Flip, said they made $500,000 in six months. And I was sitting there filming a recording of their testimonial and I almost didn't even believe it was true because it seemed like too successful.

But NOW I KNOW they were successful because they had another business before. They were able to zoom past what hangs most beginners up when they are starting out. And I am going to show you how to get out of your own way and close your first deal a lot faster.

Key Talking Points of the Episode

00:00 Introduction

03:03 How much marketing does it take to get your first deal?

05:35 What is an acceptable churn rate for a business like Deal Machine?

08:21 What is the importance of perseverance in business?

09:50 How important are systems in a real estate business?

10:44 How do we hire people to drive for us?

13:20 What marketing strategies do we use for Deal Machine?

15:21 How do we manage rental showings through Show Mojo?

19:07 What does the future look like for Deal Machine?

20:25 How do we screen tenants for our rental properties?

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/