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Zen and the Art of Real Estate Investing with Jonathan Greene

072: Creating a Deal Machine by Driving for Dollars with David Lecko

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Most real estate investors have heard the term “driving for dollars.” In the past, it meant using paper and pen to take notes. Maybe you’d follow up–but perhaps you’d forget.

In this episode of Zen and the Art of Real Estate Investing, Jonathan sits down to chat with David Lecko, CEO of DealMachine, an app designed to help investors “drive for dollars” using modern technology. DealMachine strives to streamline the process of locating properties, including information like property data and owner contact information. David designed this app after becoming frustrated at losing out on a property he had previously targeted as a potential investment. Ultimately, he learned there was a market for this kind of tech in real estate, and the rest is history.

Jonathan and David unpack the crux of the driving-for-dollars strategy, what lies at the heart of the success of DealMachine, and why meetup groups matter so much to real estate investors. They explain why it’s okay not to have a script when speaking with property owners, what they’re both doing in real estate as interest rates and prices remain high and how David helps investors overcome analysis paralysis. Finally, they explore the idea of creating your own luck in this business.

Jonathan’s conversation with David Lecko is insightful, interesting, and thought-provoking for new and seasoned real estate investors.

In this episode, you will hear:

  • David Lecko’s introduction to real estate and how a demanding job ultimately led him to make a career switch

  • A chance encounter at a meetup that gave him the idea to sell the app he developed

  • David’s first property investment and how he funded the renovation with credit cards

  • The goal of the Driving for Dollars app and why it makes it easier for potential investors to follow up on properties

  • The role of meetups in his investing journey and business model

  • What investors are struggling with in today’s market

  • Why your goal shouldn’t be to try to time the market

  • How David handled his first deal opportunity and what he would tell someone else to do in that situation today

  • Some issues that prevent investors from getting started and David’s tips for overcoming analysis paralysis

  • Where his customers initially came from, and what he does to retain them today

  • His podcasting experience and the most enjoyable parts of podcasting

  • The biggest lesson David Lecko has learned about investing

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If you enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at http://www.trustgreene.com/podcast/zen/072 to download it.

Supporting Resources:

DealMachine website – dealmachine.com

Find David Lecko on YouTube – www.youtube.com/davidlecko

David on Facebook – www.facebook.com/profile.php?id=100091388075419

Connect with David on LinkedIn – linkedin.com/in/davidlecko

David Lecko on Twitter – twitter.com/tweetingdavid

Find David on Instagram – www.instagram.com/dlecko

David’s TikTok account – www.tiktok.com/@davidlecko

DealMachine Real Estate Investing Podcast on Apple Podcasts – podcasts.apple.com/us/podcast/the-dealmachine-real-estate-investing-podcast/id1667656532

DealMachine Real Estate Investing Podcast on Spotify – open.spotify.com/show/0hn1ZGx59ETNoOsbXWeMoe

Website – www.streamlined.properties

YouTube – www.youtube.com/c/JonathanGreeneRE/videos

Instagram – www.instagram.com/trustgreene

Instagram – www.instagram.com/streamlinedproperties

TikTok – www.tiktok.com/@trustgreene

Zillow – www.zillow.com/profile/Streamlined%20Prop%20eXp

Bigger Pockets – www.biggerpockets.com/users/TrustGreene

Facebook – www.facebook.com/streamlinedproperties

Email – info@streamlined.properties

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