All Forum Posts by: David Lecko

Where are the best places or best ways to collect data on specific markets?

Average rental rates, vacancies, competition, growth, appreciation, etc..

Ive heard of scrolling through Zillow and collecting information by looking at properties for sale/rent but was wondering if there is a site where all of this information is easily accessible or any ideas for better ways to go about it.

Thanks in advance!

Quote from @David Lecko:

Quote from @Preston Dean:

@Chris Seveney

I've heard deal machine as a sponsored ad on the BP podcast years ago. Wonder why the reviews aren't so hot

Hey Preston, I am the owner of DealMachine. Happy to answer any questions or concerns. 

Since you are an investor friendly agent that drives for dollars, I would invite you to try out the AI which looks at google images and satellite images to tell you if the property is distressed. IT will save you time and cost less than gas.

The AI can also look at your past deals and generate a marketing list of similar owners.

It has been getting amazing reviews since we released in November 2024

 That sounds like a great idea, does it pull from google images that were recently taken? How can we get this. I am not too familiar with the way google images works. 

Quote from @David Lecko:

Quote from @Mike Montanye:

I have been researching wholesaling as an investment option. I stumbled upon Deal Machine as a tool to aid in the process. This appeared to be everything I was missing. I signed up for the 7 day trial. I created lists, searched virtual markets and was able to skip trace all of these for free...or so I thought. At no time was I informed that what I was doing was going to cost money. I'm not even sure what I did that needed to be paid for. But they auto-deposited $50 into my "marketing account." I now have $48.61. When I talked to a rep they said I could not be refunded that amount and now my trial has expired, so in order to spend my $48.61 I would need to spend $59 for the month. 

Service seems useful. But be careful with your trial. Zero help getting that balance back. Just kept telling me to send some postcards...

Never again with Deal Machine. 
 

Hi Mike, really appreciate you sharing this. I am the owner of DealMachine and take personal responsibility for making sure we communicate clearly and have issued a refund to you (the initial charge was April 2023 and it is 2025 now... sorry it took so long to see this).

Direct mail is a hard cost, so when you send out direct mail, you get the first 20 free during the free trial. 

Any additional mail costs $.50-$.76 depending on the size... so to prevent you from having hundreds of $.50 charges on your credit card, the default "reload" is $50 (you can set this to whatever you like in the app).

Hope this helps...

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@David Lecko: I appreciate your dealing directly with these "complaints" 

Personally, I find it to be a very useful tool for the purposes I use it. Over the years, I've spent thousands of dollars on probably 90% of the available list services. You know who your competitors are, so I don't need to name them. 

I use DealMachine, and I'm happy with it (I read the instructions you provide at the site, so I actually wasn't surprised by anything). Don't worry about minor complaints, you are doing a fine job.

Just one question, ALL sites have a delay in data from MLS updates, and from court reported information, and so on, is that a function of a monthly update routine or can the information be updated a little more frequently?

I have 2 very close friends who grew well beyond 2 rentals with this strategy. 

Call every local investor agenda (look at the agents that have investment property listings and call them) and call every local landlord that owns multiple properties (you can get lists off of Deal Machine). Tell them you want to get into investing and ask them if they know of anyone who might be interested in seller financing. 

Good luck

Hey Rae,

I'd highly recommend you find investor meetups in the market you are looking in and start going to them. If there isn't a meetup currently, you can start your own one. That is going to be the best way to meet others in the industry from that market. 

I'd also recommend finding an investor-focused agent in that market, sharing with them your buy criteria, and then having them set you up with an email list for properties that get listed. 

If you are searching for offmarket, you can network with local wholesalers, and also use something like dealmachine to generate leads. I use dealmachine for cold calling and for sending post cards and that has worked pretty well.

Good luck!

Hey @Doug Kirk,

Great question! The most reliable method to locate liens and their positions is to conduct a title search through a title company. They specialize in uncovering all encumbrances and can save you from unexpected surprises. If you’re looking for DIY options, PropStream and DealMachine can give you some lien info, but they may not always be 100% accurate or up-to-date.

For Central Ohio, check with the county recorder’s office or clerk of courts for lien and judgment records. It might take some digging, but you can often find the information you need. If you’re serious about bidding, investing in a professional title search is worth it to minimize risk. Good luck! Auctions can be a great opportunity!

@Chris Seveney

I've heard deal machine as a sponsored ad on the BP podcast years ago. Wonder why the reviews aren't so hot

Quote from @Preston Dean:

Quote from @Michael Ewers:

Quote from @Preston Dean:

Hi @Michael Ewers

I have had a few past clients from Cali call me saying "I sent post cards to home sellers and I have someone who wants to sell, can you help me with pictures and videos" 

I think their method was just mass mail and they got a few hits. Another way is to check out this website. It gives you a list of all the assumable mortgages in your area.  https://assumelist.com/

 Thanks Preston! I feel direct mail is another great method. Is there a certain direct mail service they prefer? 

 @Michael Ewers

He just replied. 

He used https://www.dealmachine.com/

 interesting we are researching different sites right now and are testing propertyradar. I saw dealmachine looks cool but the reviews from others here on BP have not been positive so I have stayed away for time being.

Quote from @Frank Pyle:

Are you a Big Pocket Pro subscriber?

 I just tried out Deal Machine and it was not what I was looking for so I just became a Bigger Pockets Pro Subscriber