140: 10 Tips For Becoming a Real Estate Investor

The DealMachine Real Estate Investing Podcast

In this conversation, David Lecko and Ryan discuss advice from Eric Stark, a full-time real estate investor with over 600 deals under his belt. They cover topics such as working a specific strategy, specializing in one thing before adding to it, finding a mentor, making written offers, developing off-market lead generation systems, using profits to keep good deals, and being clear on goals and enjoying life. They emphasize the importance of focusing on one strategy, building relationships with city officials, and being mindful of personal and business finances.

Keywords

real estate investing, strategy, specialization, mentorship, written offers, off-market leads, profits, goals, enjoying life

Sound Bites

"Stick to that specific strategy instead of chasing an opportunity."

"Specialize, become excellent at one thing, then add to it."

"Find a mentor who has current deals being closed monthly."

Key Talking Points of the Episode

00:00 Introduction

01:41 Why is it important to have a strategy in wholesaling?

04:14 How can focusing on one thing at a time help you scale your business?

07:43 What is the value of finding the right mentor when you’re a new investor?

09:36 How can you get in touch with Ryan for mentorship?

10:20 What is the importance of writing offers for the deals you’re finding?

12:10 How can writing offers help you make sellers understand your numbers?

14:05 Why is it important to learn to find off-market deals?

17:29 What is the best way to follow up on your leads?

19:00 What is a “Leave Behind” program?

20:45 What is the best way to use your profits from wholesaling to grow a portfolio?

23:03 Why do you need to set clear goals for yourself?

24:46 How can you make the most of your real estate investing success?

26:32 Why should everyone learn Profit First?

Links

Instagram: Heritage Home Investments

https://www.instagram.com/heritage_home_investments