Driving for Dollars with Epic - David Lecko | 561
Epic Real Estate Investing
Matt Theriault
4.7 • 955 Ratings
🗓️ 7 January 2019
⏱️ 32 minutes
🧾️ Download transcript
Summary
Today, our guest, David Lecko is driving for dollars with Epic! He shows us how to implement this strategy in a time-honored way via his DealMachine App. So, stay tuned and learn how the app works, what properties you should avoid, and where to look for your deal finders.
Transcript
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| 0:00.0 | From coast to coast, epic investors are doing the most. |
| 0:05.0 | It's time for another epic field report. |
| 0:08.0 | Okay, I am on the phone with Mr. |
| 0:11.0 | Enrique Santana and Aria Ace's client and he had just posted in follow-through Friday. |
| 0:16.5 | His first deal that was not a turnkey deal, so I want to bring him on and talk to him about it. |
| 0:20.7 | So Enrique, hello, how are you? |
| 0:22.3 | Good, good, how are you? Good, how you doing? |
| 0:24.0 | Very good, thanks. |
| 0:25.0 | So let me just read it really quickly. |
| 0:26.7 | Closed escrow on my first non-turn key house on Monday. |
| 0:29.8 | Bought it using all cash with 30% equity minor rehab began on Tuesday |
| 0:33.5 | already working with the lender to do a cash out refi it will cash flow about $150 |
| 0:38.5 | after the refi but that will be an infinite ROI after refi I'll be ready to repeat. |
| 0:43.7 | So congratulations. |
| 0:46.3 | Thank you. |
| 0:47.3 | You bet. |
| 0:48.3 | And how did you find this particular deal? |
| 0:50.6 | This one I was pretty much a surfing on the MLS one night. I found this one the house |
| 0:56.4 | looked nice it didn't look like it hadn't needed much work. I checked it out. It was an REO so right |
| 1:02.3 | away I wanted contact the agent. I noticed that the price was much lower than most of the other houses in the area. Like I said, it didn't look like it needed much work. So I just gave it a shot. I made an all cash offer to the agent directly. |
| 1:17.0 | So see if I could get a better deal. |
| 1:20.0 | Sweet, so you just found it browsing the internet. |
... |
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