Expert Investor Shares How He Made $100K with Just One Property

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 25 November 2024

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

Would you spend thirty hours finding a deal if it could make you over $100,000? Of course you would! And that’s exactly what David Lecko, CEO of DealMachine, suggests you do to find better real estate deals in 2025. After hundreds of calls and mailers, an extensive rehab, and two appraisals, he walked into six-figure equity on a single rental property! Welcome back to the BiggerPockets Real Estate podcast! David has achieved financial freedom by building a real estate portfolio of nineteen cash-flowing, appreciating properties. His big secret? Buying the same property over and over in a market he knows inside out—Indianapolis, Indiana. He’ll scour tax-delinquent lists for distressed properties that fit his buy box and use the BRRRR method (buy, rehab, rent, refinance, repeat) to snowball into his next deal. But now that David has moved to Austin, Texas, he faces a brand-new challenge—investing in real estate out of state. While most investors would hire a property manager to oversee their properties, David self-manages from hundreds of miles away and employs an assistant to be his eyes and ears. Tune in as David shares all of the details on his latest deal and the strategies investors can use to gain a competitive edge in 2025! In This Episode We Cover: The strategy David used to make $100,000 on ONE real estate deal How to self-manage your rental properties (from hundreds of miles away) Why the BRRRR method (buy, rehab, rent, refinance, repeat) still works today How to scale faster and make higher returns by staying within your buy box The midwestern markets that allow you to earn cash flow and appreciation Why you shouldn’t wait for interest rates to drop to buy your next property And So Much More! Links from the Show Join BiggerPockets for FREE Let Us Know What You Thought of the Show! Buy the Book “Rich Dad Poor Dad” Find an Investor-Friendly Agent in Your Area From Burnt-Out Tech Worker to $95K in Passive Income in 2 Years Connect with David Connect with Dave (00:00) Intro (02:32) Tax-Delinquent Properties (07:46) $100K from ONE Deal (13:10) David’s Buy Box (17:12) Self-Managing (Out of State!) (23:23) David’s Plans for 2025 (27:31) HUGE Market Opportunities (31:42) Connect with David! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1048 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You think Burrs don't work anymore? How about making a hundred grand on a single deal here in
0:05.7	2024?
0:11.8	Hey everyone, it's Dave, and today I'm joined by David Lecco.
0:16.7	David is a real estate investor with a portfolio that he has had for a couple years, but is still
0:21.6	actively growing in Indianapolis. And he's also the CEO of Deal Machine. You may have
0:27.4	heard him on our previous version of this episode. He was on episode 830 about a year ago.
0:33.5	And today, I'm looking forward to catching up with him and what he's been doing with his own
0:38.3	personal portfolio because he sort of left us dangling a year ago with some big deals that
0:42.9	he had in the works.
0:44.0	So today he's going to update us on some of the things he's been doing and his plans for
0:48.4	2025.
0:49.4	Let's jump into it.
0:51.0	David, welcome back to the show.
0:52.4	Thanks for joining us.
0:53.5	Thanks, man.
0:54.0	I was looking that
0:54.8	episode 830 was October 12th, 2023, almost a little over a year ago. Dude, and look at us now.
1:01.9	We're like in the thousands. We've been making a lot of podcasts, but we're excited to have you
1:06.6	back because a lot has happened in the last year. I know. I was excited to tell you about some stuff
1:11.5	on my end, too, with real estate. Well, before we jump back in, David was a guest on the show about a
1:17.5	year ago. And for people who didn't listen to that, can you maybe just give us a brief intro?
1:21.3	Yeah. So it was called, I believe, burned out tech worker to over $2 million in real estate.
	...

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