Episode 527

Building a Fulfilling Lifestyle: How to Make Your Business Serve You w/ David Lecko

David Lecko is a dedicated entrepreneur and founder of DealMachine who exemplifies the value of persistence and long-term commitment. This mindset was instilled in him when he first had an interest in real estate while working tirelessly for a small company, noticing that he worked harder than the owner himself. Curiosity led him to inquire about the owner's rental properties, and he was enlightened on the advantages they offered in comparison to the stock market. The stability, monthly cash flow, and early retirement opportunities presented by real estate investments resonated with David, inspiring him to venture into the world of real estate investing. With his solid work ethic and unwavering persistence, David Lecko has become a respected figure in the entrepreneurial community.

Connect with David Lecko: https://www.instagram.com/dlecko/

Topics & Bullets

Introduction

Podcast name and episode title
Host and guest names

Guest's Approach to Wealth and Business

Having multiple streams of income does not guarantee wealth
Focusing on too many opportunities may lead to none of them working
Guest's goal of having his business serve him and live a fulfilling lifestyle
Current work schedule of 6 hours a day with a staff of 30

Hesitation to Start Another Business

Time constraints and potential impact on current business
Concern for discouraging business partner
Value of partnership and equal ownership

Legal Considerations and Business Disputes

Operating agreement and push-pull agreement
Initial disagreement on hiring employees
Importance of communication and improved productivity

Motivation and Market Trends

Responding to pain as motivation
Wholesaling specialization and market trends
Mention of tech job market trends

Personal Milestone and Starting in Real Estate Investing

Guest's purchase of Ferrari after reaching $1,000,000 milestone
Advice on building up side hustle before quitting job
Starting in real estate with tax-delinquent properties

Mindset and Additional Resources

Importance of mindset in starting a business
Guest's podcast invitation
Recommended episode on quitting a job and starting wholesaling

Introduction to DealMachine

Discussion of DealMachine app
Focus on simplicity and helping new real estate investors
Integration of Chat GPT and real estate data

Market Trends and Overcoming Challenges

Trends in interest rates and buyer demand
Guest's successful deals meeting the 1% rule
Encouragement to participate in the 30-day challenge
Wholesaling as a low-capital entry into real estate investing

Features and Strategies of DealMachine

Virtual driving for dollars feature
Avoiding analysis paralysis and quitting too soon
Building a cash-generating wholesaling machine
Finding buyers for properties under contract

Building Credibility and Business Growth

Importance of transparency and honesty with sellers
Finding buyers through various channels
Sending contracts to title companies
Balancing finding opportunities and finding buyers

Personal Growth and Self-Care

Incorporating humor in business conversations
Guest's favorite tool: weightlifting for anxiety and self-care
Overcoming anxiety and focusing on personal well-being

Conclusion

Guest's business contraction and subsequent growth
Recap of main points covered in the episode
Final words or call-to-action

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"You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - Jack

Episode 527

Building a Fulfilling Lifestyle: How to Make Your Business Serve You w/ David Lecko

Topics & Bullets

About the Podcast

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About your host

Jack Hoss