I did find one and I bought it. It was five bedrooms. I lived in it myself and I rented out four of the

bedrooms. So that was the very first property that I bought. The second one was also on the MLS. It had been

there for 90 days. It had been under contract, but that fell through. And so when I came, I was able to

pick it up for $104,000. And the rental price that he had been

renting it for was $1,000. And so right there, I was like, oh, I've heard about this thing called

the 1% rule. The rent price seems about 1% of the purchase price. And so that's a quick rule

that you can use to figure out if this

is going to be potentially a good cash flowing rental property. And then sure enough, I plugged it

into rentometer. And so you could see there that it would really cash flow nicely.

Welcome to the real estate and financial independence podcast.

I'm your host Chad Carson.

You can also call me coach,

and this is a show all about helping you get out of the financial grind,

so you can do more of what matters.

Whether you're a long-time listener or a first-time listener,

it's always an honor to have you back for another episode. The title of today's episode is How to Find Good Real Estate Deals in 2023. So I knew this is going to be coming out right at the beginning of the year, and I wanted

to pick a topic that I feel can help you shoot out of the canon. If you have goals for your real

estate investing business this year, which I sure you do, or I hope you do, that one of the most important parts of the business, one of the most difficult parts of the business is actually finding the deals. So managing them is not easy either, right? And getting the financing and buying the deal and doing the paperwork. There's a lot of stuff you got to learn as a real estate investor. And I plan to keep helping you and teach that in the podcast here for this year. But the beginning of all that is you've got to get the deal in the first place. And this is something that in the very beginning of my real estate best in career 20 years ago, somebody told me, Chad, you should focus on finding deals and getting really good at that. If you do that, everything else is going to take care of itself. That was such good advice, and I'm giving you the same advice here, that if you're someone who wants to take the real estate investing business more seriously, maybe you're in it already, but you want to buy more properties, if you want to buy better deals, this topic we're going to talk about today is the most important thing

that is going to unlock a lot of the other parts of the business. And I brought on someone to help me

with that, someone who's an expert in this topic. His name is David Leco. He is the CEO and founder

of Deal Machine. Deal machine is an app that I recommend. One of the few tools outside of my own kind of

educational tools that I recommend to people is a deal finding app. It helps you find properties,

...