BiggerPockets Real Estate Podcast Expert Investor Shares How He Made $100K with Just One Property
18 snips
Nov 25, 2024 David Lecko, CEO of DealMachine, shares how he turned a single property investment into a $100,000 success story. He emphasizes the importance of dedicating time to find deals and using the BRRRR method to maximize returns. Lecko also discusses his shift to managing properties remotely after relocating, highlighting strategies for self-management, even from a distance. He reveals the secrets of navigating tax-delinquent properties and achieving financial freedom through a well-informed investment strategy, particularly in the Indianapolis market.
AI Snips
Chapters
Books
Transcript
Episode notes
Biggest Deal Anecdote
- David Lecko bought a distressed property from a tax-delinquent list for $160,000, $20,000 less than the owner's purchase price five years prior.
- The owner, an orthodontist, was overwhelmed with the property's required repairs and gladly sold it.
Tax Delinquent List Strategy
- Target tax-delinquent lists to find distressed properties.
- Contact owners directly to potentially acquire properties below market value.
Off-Market Deal Numbers
- It takes approximately 200 conversations or 30 hours of calling to secure one deal.
- Off-market deals often require significant outreach but can yield substantial profits.
