114: How To Get Strangers To Send You Real Estate Deals

What this episode covers

Have you hired a driver to help you look for run down houses that quit on you? Here's why your driver quit! This one's for anyone who's actually working on quitting their W-2 job to start wholesaling real estate: a strategy for making big checks from finding ugly houses. If you've got a solid W2, you can hire someone to look for run down houses for you. There's 3 payment structures for hiring a driver to look for run down houses. I will tell you why your past drivers have quit, and how to hire and retain them going forward. I've had the same driver with me for 3 years, and have coached hundreds of DealMachine team members on doing the same. Summary In this episode, David Lecko discusses the different payment structures for hiring a driver for driving for dollars in real estate wholesaling. He explains the three payment methods: paying by the hour, paying by the number of rundown houses found, and paying a bonus for closed deals. He emphasizes the importance of setting expectations, ensuring accountability, and having regular check-ins with the driver. Lecko also provides tips for screening and testing potential drivers and highlights the significance of having a contract to outline the payment structure and protect both parties. Overall, this episode provides valuable insights for anyone looking to hire a driver for driving for dollars. Takeaways • There are three payment structures for hiring a driver for driving for dollars: paying by the hour, paying by the number of rundown houses found, and paying a bonus for closed deals. • Paying by the hour is often the most effective payment method as it provides stability for the driver and ensures they are motivated to work consistently. • Setting clear expectations and having regular check-ins with the driver are crucial for maintaining productivity and accountability. • Screening and testing potential drivers before hiring them can help ensure they are serious and committed to the job. • Having a contract that outlines the payment structure and other important details is essential for protecting both parties and maintaining a professional relationship. Key Talking Points of the Episode 00:00 Introduction 01:18 What payment methods work best for hiring drivers to drive for dollars? 02:03 Why is it not ideal to only pay a finder’s fee for drivers building you a list? 04:05 What is the best way to pay drivers to drive for dollars for you? 05:07 When would it be practical to not pay by the hour? 06:16 How can you make the most of paying someone by the hour to drive for dollars? 07:10 What will make people want to drive for dollars for you more than for other jobs? 08:03 Why is it important to set the right expectations with drivers you’re going to hire? 09:07 Why is it important to meet with your drivers regularly once they start working with you? 11:10 How will this strategy work for you as a real estate investor? 12:47 What strategy do we use to make sure the drivers we hire are serious about the opportunity? 14:37 What kind of contract can you use to secure your working relationship with your drivers? Links Podcast: 075: Make $10k-24k from Certain Down Houses with David Lecko https://podcasts.apple.com/us/podcast/075-make-%2410k-24k-from-certain-down-houses-with-david-lecko/id1667656532?i=1000635664435 Podcast: 065: How to Get Your First Deal in 7 Days with David Lecko https://podcasts.apple.com/us/podcast/065-how-to-get-your-first-deal-in-7-days-with-david-lecko/id1667656532?i=1000633061788 Free Resource: Driver Contract https://www.dealmachine.com/drivercontract David's Social: @dlecko https://www.dealmachine.com/pod