For the last three episodes, focus on someone who made $40,000 finding a deal. Another one was $30,000 finding a rundown house and passing it to an investor. And the way they got there was they were making $1,000 to $2,000 calls to homeowners that had rundown houses or were tax delinquent or something like that. And then they actually got a deal. So it's helpful, I realize, to not just learn from people who are ahead of you, but somebody who's right next to you doing amazing things. This episode, I've actually gotten in touch with David, somebody who's made $1,200 calls in the last two weeks. So it's about like 150 per day per weekday. And that's exactly what it takes is determination and consistency. So I know he's going to get a deal. He's got four houses that are saying yes. And he's going to ask me some questions on how to actually lock in that first deal. So for that reason, I know you're going to love this episode. My name is David, I created a deal machine, which is a software that's helped people close their very first wholesale real estate deals over 10,000 times in all 50 states. And this is the podcast where you can learn how to wholesale a strategy where you make money by finding a rundown house, passing it to an investor and can build a business that will replace your W2 income and allow you to go to even bigger and better things like buying businesses. For example, what's your due to consistent stream of wholesale deals where you're making half million dollars a year, like one of our guests in the last couple episodes. So tune in, I know you're going to love this episode. All right, David, I'm so happy to talk with you because in the last two weeks, since we launched the dialer, you have made 1,200 calls, which is awesome. And it's about an average of about 120 calls per business day. And so I wanted to get a perspective from you on it's very awesome what you've achieved in the sense of just being so consistent, which is really all it takes to have success. So I wanted to speak. I wanted to hear from you kind of what's been driving you to look for that first wholesale deal. Okay. So yeah, right now I'm in school, I'm finishing up my degree for engineering and it's been okay. It's just the thing is that I'm paying my way through school. So I've been trying to avoid loans as much as possible. And I actually came across wholesaling maybe three months ago, four months ago. And I saw how they're, you don't really need any capital. All you got to do is just go out there and just pretty much it's all sweat equity. And I'm willing to work. What sort of engineering are you studying? Because I'm actually, I have electrical engineering degree. Didn't really use it because I got kind of really intrigued by real estate eventually. Yeah. And so, but I'm just curious what, what you're studying. Because I actually crazy because it's electrical engineering. Cool. Yeah. No, I always liked that kind of stuff was drawn to the idea of just electricity doing cool stuff. So great. I can understand that. So, and good on you for paying all your way through school. Yeah. I mean, I've been going my way through is just like I said, like I've been real estate as of late has really been intriguing to me because if anything, my end gold would be to get into real estate. So I've been just kind of like at a crossroads thinking if I could just start now and kind of jump straight in with wholesaling and doing this, maybe I could do that instead. But really, I'm not too sure because it's just engineering is such a good thing to finish with to get a degree in. So. Absolutely. It is. It's a good problem solving. It's, it's very good for active income, right? If you decided to work that nine to five and help put that money towards your real estate investing, I have an employee actually who has more rental properties than I do. He's got 32 rental properties and he works, his name's Brett and he works at deal machine and he's like, dude, I love what I do. He's like, I love being the head of finance. I love accounting and I'm building real estate as a way to build wealth and the active income just allows me to do that more aggressively. So it's awesome. You've got a lot of options. So I am curious. You're doing about 120 calls per day. Are you doing it every day like that or did you just do a lot of calls one day or how did you, how are you working at the system? So now I'm trying to pretty much like set up a system so that I have consistent leads coming in. So I'll try to go maybe like on Monday, I got, I think 200 leads. I try to go out daily or every other day to try to get at least 200 leads and then I just sit there and just call, call, call. Once I'm done with that, I get a new list just driving and then the same just rinse and repeat. Got it. So you're all looking for rundown houses and that's the list that you're calling. Yeah. Yeah. And so where are you going to school? Where are you driving around? So right now I'm in South Florida, Broward County and it is very competitive, very competitive. So that's kind of like. Where are you? It doesn't seem like it. Um, I'm trying to have like a different mindset about it. Just since it's so competitive, then there's a lot of opportunity out here, but it's usually by the time I've, I've called somebody they've had about five other people talk to them. So it's, I'm pretty much just trying to figure out how to get my foot in the door with that. That's probably my things from now. Yeah. Well, I think you're doing the right thing because obviously if they talk to four people before you, they're not ready. Someday they might be. So keep them on your follow up list, right? And that's the name of the game. And my experience is not trying to convince someone to do a deal, but being the one who does call them on the day that something in their life happens that makes them want to do the deal. Could be a surgery, could be a death in the family, could be a son or daughter getting divorced and they need to move closer to help with the kids. You name it. There's an endless amount of scenarios, but it's just literally by being there doing those calls sending that mail, whatever it is, is just going to line up the timing, right? And give you the luck that you need. It's going to feel like luck, right? But it's no, no, you did the work. You actually were consistent. So I would say keep your head focused and, um, you know, I was just talking to somebody else who's doing this in Miami. So it's a little bit different from Florida, but I would say still very is equally competitive. And he said that he's made about 2000 calls. Um, it is a couple episodes before you, David Modesto actually, um, yeah, that was it. Yes. He's done about 2,100 calls. So since we launched, so y'all are in the same ballpark, right? And he said he's got two, uh, appointments that turned into signed contracts so far. Uh, but he has been doing it for three years too. So let's know that that's kind of a ballpark range of when something might start to happen. You probably there. Have you found anyone out of the 1200 calls where somebody was like, yeah, I actually, um, I do, I do want to sell my house. Have you, have you, has anyone said that? Um, yes. On Monday, I had two people pretty much give me like a heads up, like they're like, yes, I do want to sell, but usually with the call back, they kind of just go ghost on me. I start calling them. They're just nowhere to be found. So I'm kind of just keeping up, just calling back just, I'm not trying to drive them crazy. I don't call them every day, but I'll kind of give them a call back every now and again. Why do you think somebody would say yes and then ghost you? Like, which, why do you think somebody would do that? Right now that's what I'm trying to figure out. I'm not too sure maybe from ABC approach that I'm coming into heavy button. Well, I haven't listened to your approach, but you don't seem like a high pressure guy. So I don't think so. So your house is a big deal and I think that it just takes people a while to come around to making a decision like that. And I would continue to follow up with them nicely and in a positive way as if it were your, your great grandma and she's trying to make one of the biggest decisions of her life. Right. So just be respectful, but continue to follow up and be helpful. There was a deal that I did, it was about six years ago. I was rehabbing a house, two doors down, a big tree fell on the house. It didn't do terrible damage, but it like knocked the gutter off. It just struck the shingles and I was like, dude, somebody like needs to know about that because it's a nice house, but weirdly nobody's been in or out of it in like three months, you know? So I was sent in mail, but nobody lived there. So obviously the mail was just going to a full mailbox and couldn't find her phone number at first, but dug a little bit deeper and did find it. She's like, Oh my God, I had no idea that my tree fell. I moved two hours to Bloomington, Indiana. My daughter got divorced. She needed help with the kids. And so I'm just pulling my hair out thinking about this issue and how I'm going to solve it said I, I could just buy your house, help you move down there and you could leave anything you don't want behind and I'll just handle the rest. And she did ghost me after we had that whole conversation here, but then I followed up and about two weeks later, just out of the blue, she's like, okay, let's do the deal. And I was like, why didn't you text me back? At least once during the, you know, the last two weeks and you just got to realize it's overwhelming. Yeah. And it, it just, it, that's just what happened. So I would just encourage you to keep doing what you're doing. It sounds like you're doing it well. Okay. And you would like, can you would pretty much recommend texting because that's one thing I don't usually do. I don't usually text, usually I'll just make phone calls and leave a voicemail. But. Well, I personally don't text unless we've already had a communication meeting. They called me back from a piece of mail or we talked on the phone, right? Yeah. So I would say if we had a positive conversation, then I would follow that up with a text from my personal cell immediately be like, thank you for the call. This is, you know, something I could help with when you're ready. These were the next steps would be like coming to see your house, coming to meet with you. One would be a good time. So if we didn't get that all established on the, uh, the call, I would do that via text. Even if we did do it on the call, I would confirm it via text, right? Just so they have that visual there of the verbal confirmation that we had. So that's how I would handle it. And, um, so you, yeah, we, yeah, we don't have outbound texting through deal machine. Um, but you, yeah, you just send a text, be like, Hey, we just spoke on the phone. This is my personal cell, um, you don't have to say that's why it's a different number, but it'll make sense. Right. Just be like great conversation, recap, love to do the next step or hey, are you still interested in selling your house? We talked a week ago and, um, this is my name is my personal cell, wanted to text you and just be here for when and if you do, you know, want an offer. So. Got you. Yeah, I have maybe three or four deals right now just up in the air, just like sometimes they'll answer the phone. Sometimes they won't. And it's just pretty much just me trying to send an appointment. Got it. Yeah. No, you're doing great. I would say just keep doing that. Keep friendly follow up, you know, every couple of days. So you're in the right thing. Gotcha. Uh, another thing I like to put on the end of those texts, if they haven't responded is, um, you know, just, just let me know when you're ready. I can cash you out in two weeks, uh, just let me know. And so, um, hope that helps. Do you have any other questions for me, by the way, or any, uh, kind of puzzling situations that you ran into? Um, right now, I've been trying to get into networking with people because down south, I know there's a lot of events is just, I'm not sure where to kind of turn to or who to go. That's probably like my next thing, because I'm looking for more cash buyers, like I want to know their criteria, what they're looking for just so I can kind of tailor my offer to these homeowners. Got it. Hey guys, if you know you want to quit your job in the next three months, make sure you're subscribed to this podcast because we've got some incredible frameworks with step by step instruction that you're not going to want to miss. Also leave us a rating in review to let us know your favorite parts and why you want to get financial freedom. So in deal machine, have you pulled the cash buyer list in your area? Do you know how to do that? Actually, I haven't. Okay, center the map on your area where you're looking for deals and then click quick list cash buyers, build the list and then look at the owners of those properties and their phone numbers, right? Then you can just cold call that and see what their criteria is. You know, hey, I noticed you bought some deals, cash in Miami, Florida, I've got a few deals was curious if I, you know, could get from you like what you would be looking for. Or you can even look at their portfolio, dude. Do you know that? Yeah, no. You can look at their portfolio. You could see the properties they own, right? You just look for more properties like that. Yeah. Wow. I didn't know. Yeah. If you haven't seen it, do you want me to walk you through how to do it real quick? Um, yeah. That'll be amazing. All right. I just figured since we're here might as well. All right. So we got the tab, machine tab, there you go. So here's in my area. You know, I'll just do this is Indianapolis is where I invest whoops, um, four six zero three two is Carmel, Indiana. So I can click that and it's going to generate all the properties at first 18,000 properties. So when you quick filters, I'll do cash buyers. And now let's see what that turns into 4,000 properties. So I'll build that list. It should build in like three seconds. So come to myself while it builds. Once it gets started, it should finish pretty quickly. So here it goes. Okay. There it goes. You see the progress bar now. It's already half done. Yeah. Now it's done. Okay. So it's built. I'll let the little progress bar finish up. There you go. Now I can open the list. Make that a little smaller for you. So let's take a look at this property in particular, uh, pulty homes of Indiana. It's an LLC. So it says associated officers blah, blah, blah. It's obviously a guy named Todd Shelton. Let's see if this guy is 63, this is actually doesn't give too much info about this guy in particular. Uh, so let me do one that I think is more obvious. Oh, this is another LLC, of course, people keep their properties and LLCs, right? So Oh, Onyx and Ease, that's actually a big builder. Obviously it's owned by a guy named Andrew layer. And so that's why it's showing me every Andrew layer in the country where I get pick, pick who, who, who that probably is. Let me go back again, let me just find one with more of an independent landlord. So this is a very weird, uh, but look at this guy's name. I mean, that, okay, I mean, that's, that's matched on a name, bro. I don't think there's too many guys or gals with that name. So it's 42 year old, they live in Fisher's, Indiana, which is real close. Um, they own five properties. Look, Westfield, Fisher's, Carmel, Carmel, it's all the same area. So obviously this guy loves properties between 300 and $600,000. He probably lives in the more expensive one, right? So if, if I was looking for properties for this guy, this is what the, you don't even have to call them. You know, you see what I'm saying. So you, you could tell what this guy wants to buy. So just wanted to show you that real quick. That's how I might go about finding what types of properties people want to buy it might be a faster, faster way for you to browse through that, like take, take an hour or two, just browse through it. You probably make yourself familiar with 20 independent landlords. I would definitely do the independent more than the big companies like, um, and, uh, yeah, I would just, one, when you have it, call those 20 people and, um, we go from there. What other? Yeah. That was a fantastic question. Yeah. I mean, if I could ask you for your advice, I do have an appointment later today at three o'clock, matter of fact, to see what the thing is that it's a newer home. It's a newer home. It's pretty much renovated already. They said they were willing to get a cash offer, but the thing is the wife is a realtor. So she knows the comms. She knows supposedly what it would be worth. So that I'm not really too sure how to approach that. Don't, you're not tricking anybody, right? Yeah. I would just say before you even go on that appointment, just say, but hey, I just, I was thinking I just want to clarify something. You know, what I do is, uh, I buy homes for a living in order for me to do that. I'm usually able to help people that want to, that are looking to sell it. And for that reason, I'm not the best, the best offer, right? Yeah. If somebody has a lot of time and they want to list a perfect, you know, house on the market, I always recommend they do that. So I wanted to tell you that before it came out today. So that way you're not surprised at what my offer is, right? I do want to give you a fair offer, but again, I'm able to help. I'm not the highest and best, right? The way I specialize is providing speed and convenience. Does that sound like your situation, right? And then if they say, no, you just save everybody some time, if he says, oh, no, no, we, we do want to see what your offer is, well, and just go on the appointment. But yeah, you just not, you see what I'm saying? It kind of feels good to say that too, because you're actually kind of pushing them away, which makes up people kind of reach back out if they really do need help. So that's how I would handle that. Got you. Okay. Cause that's mainly what I was worried about that. And like coming up with an offer, cause I know that if it's too low, they're not going to go for it. If it's too high, I'm not going to be able to get rid of the contract. So, cause I mean, my idea is that like a rental would want to buy it and just put tenants in right away. It's right. It's renovated everything. Right. You're never trying to surprise or trick someone. You're always trying to provide a service and being honest and transparent with what that means is always going to be the way to go. And you'll be surprised. Again, somebody who does really need that will be happy and have no problem giving you a good price when they really do want the speed and convenience. I'll give you an example. I did a really smoke and deal with a property in Indianapolis, it was owned by a orthodontist that lives in Utah. He actually bought it for 180,000. But for me, I could only do 160. He'd own it for five years. It was falling apart. He never got his contractor to do the work on it. So it was just a headache and a burden because now he's behind on taxes too. So he actually brought $20,000 to the table to close. And I got it for 160. He owed 180. He even bought it for 180. So I'm just telling you, just keep calling until you find someone that just truly needs and wants that speed and convenience. Got you. Because I mean, I've even been thinking about changing markets to because the further north you go on Florida, like the cheaper it gets, the better it gets because down south, everything is just super high priced. Yeah. And the sweet spot is not in-- I live in Austin, Texas, by the way. It's so busy with flipping and stuff here right here. I always think that the outer belt highway within 20 minutes of that is a sweeter spot because it's just less competitive with people trying to get those deals. And you'll find 50-year-old ranch houses that just haven't been updated, right? And get great deals on those. So that's actually what I recommend is then how I look myself for deals. Okay. Got you. Because then the nearest county that's right next to us that's feasible for what I'm looking for, which is like the 300,000 range, 400, it's going to be maybe like 45 minutes away. So I'm thinking if it's just worth taking a day out, driving out there, driving for dollars for the entire day, trying to get 1,000 leads and just cold calling that, would be better than pretty much doubling down down here and just recalling these leads and like hammering it down. Yeah. Yeah. At the same time though, it's only been two weeks. Yeah. You've got four people who said they did want to sell. So you know, I wouldn't get too discouraged about that, bro, because even somebody who's really experienced, they have the same results. Like I don't think you're doing a bad job. So I'd probably stick with it to what you're doing just for the fact of, well, let's give it a good solid try before moving all around. And I just think when you spread yourself too thin or you change directions too quickly, sometimes that can just lead to spit in your wheels. You know what I'm saying? So I might, I might try for another couple of weeks, what you're doing got you are for sure. Well, you're doing a great job with the consistency and that's the biggest thing I see that tells me you'll be successful. All right. Thank you, man. I appreciate it. Of course, man. Any other questions or should we check in in a couple of weeks and see how things are going? Um, I think a couple of weeks check in, hopefully, but then I'll have something locked up and me too. Yeah. Let's do it. Thank you so much, David. Hey, for sure, man. A pleasure meeting you, David. You have a good one. All right. Bye bye. Bye bye. Thanks for listening to the deal machine real estate investing podcast. Please leave us a review and follow along wherever you're listening to your podcast. All right. Bye. Bye. Bye. [BLANK_AUDIO]
You need to make about 300 calls per day to property owners every week day for about 1 month in order to find someone who wants to sell their house (and prefer speed and convenience over a good price).
So if you are working on wholesaling real estate looking for your first deal, I know you're working but I bet you're not doing 300 calls per day.
Key Talking Points of the Episode
00:00 Introduction
02:05 How did David get interested in wholesaling?
04:13 What does David’s cold calling strategy look like today?
06:47 How many motivated sellers has David spoken to?
08:15 Why do you need to be patient when following up with sellers?
09:22 When would it be ideal to text your leads?
12:05 How can you use the Deal Machine app to find cash buyers in your area?
13:03 How can you look at an investor’s portfolio through the Deal Machine app?
16:31 What is the best way to approach the sellers of a newer home?
19:07 When is the best time to consider changing markets?
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/
