151: 10 Tips For Becoming a Real Estate Investor

In this conversation, David Lecko and Ryan discuss advice from Eric Stark, a full-time real estate investor with over 600 deals under his belt. They cover topics such as working a specific strategy, specializing in one thing before adding to it, finding a mentor, making written offers, developing off-market lead generation systems, using profits to keep good deals, and being clear on goals and enjoying life. They emphasize the importance of focusing on one strategy, building relationships with city officials, and being mindful of personal and business finances.

Key Talking Points of the Episode

00:00 Introduction

01:10 How did John find his first wholesale deal?

02:23 What strategy did John use to market to sellers?

03:13 How did John analyze the value of the property virtually?

04:03 How did John come up with the offer price for this property?

05:41 What response did John get from his offer?

06:26 How does John plan to find a buyer for his first wholesale deal?

07:32 What is John stuck on with this wholesale deal?

08:23 What makes finding a buyer challenging?

10:23 How can real estate agents help you re-negotiate the price with the seller?

11:41 How did John come up with the ARV for the property?

13:48 What would the numbers be if we ran them in Deal Machine?

16:15 How can John make the deal work?