David Lecko is the CEO of DealMachine — a real estate investing app that puts you in touch with any property owner via direct mail, phone, and email. Next time you are out and about and you see a house that looks abandoned or interesting, simply take a picture of it with the DealMachine App to instantly see who owns it. Then choose your contact method and get in touch with the owner and offer to buy it. DealMachine launched in the summer of 2017, and users report making as much as $25,000 over the last 4 months by looking for houses on their commutes that appear run down and contacting the owner via dealmachine and then selling the properties to an investor. Since using DealMachine at least one user has quit his job with the income earned from using DealMachine.
David turned to real estate to free up his time in order to create apps like DealMachine that solve real-world problems. On a mission to find financial independence, with a single real estate deal, David was able to reduce his living expenses to effectively $0 earlier this year, freeing up his time to quit his 9-5 job and work on DealMachine.
What you’ll learn about in this episode:
- Why David Lecko developed a real estate app to help him track information about his real estate deals
- How you can use David’s app to instantly gather information and communicate with homeowners who may be interested in selling
- How David’s app handles all correspondence with potential sellers for a nominal charge, saving you time and effort
- David explains the base pricing for his app’s services and what value you get for your money
- How David’s app can find the full sales history and outstanding mortgage balance for a property
- How David’s app allows you to have a team of people searching for deals without you having to lift a finger
- How to get free unlimited property lookups and $6 in mailing credit for David’s app just for being a Real Estate Investor Summit podcast listener
- David’s advice for new real estate investors just starting out in the business