Driving for dollars is the fastest way to get instant results, but you need to set your expectations and make a plan. Don’t quit too early.– David Lecko
How to Recruit & Manage a Driving For Dollars Army for More Off-Market Deals
David Lecko is a returning guest and long-time friend of Carrot. His software, DealMachine, is a game-changer when it comes to curating a list of proven, personalized leads.
Automating routine tasks and direct-to-seller marketing tools has freed up his time to work on the bigger deals and spend time doing what he loves which is what this is all about.
Today we’re going to learn how he utilizes his software and a team of drivers to dominate his chosen market.
Read the Full Show Notes Below…
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As your business grows, one of the most important things you will do is build your team. Finding the right people, creating the right training, and finding the right balance will all be huge factors in your success.
Driving for dollars is a proven strategy for investors, whether they are just getting started with a minimal budget, or if they are seasoned investors, looking to add to their marketing mix.
Listen in or keep reading to learn exactly how he does it.
Why Build a Team?
At Carrot, we are all about helping people build businesses of freedom and impact. A lot of this is done by saving you time on the day-to-day tasks so that you can focus on the things that give you energy. Building the right team and implementing the right processes can take those daily tasks off your plate, freeing up your time for more important things.
Many entrepreneurs I know become hyper-focused, losing the freedom that owning their own business was supposed to provide. I know first-hand that it can be hard to delegate and trust others with tasks they’ve done for so long.
However, I’ve learned that if I am going to have the impact and life I want, then I need to find ways to create more time in my day. Automation and team building has helped me to do that.
Battling Entrepreneurial Guilt
After building a team and finding more time in your day, it can be difficult to take time off. You may feel guilty for golfing on a Friday afternoon while your team is working or for stepping away from the office for a week to travel with your family.
However, these are the things that may give you energy. Your team is better served when you come back refreshed and in the right mindset.
Remember that you worked hard to get here, and for many, freedom is what it’s all about.
After doing a couple of deals on your own, David recommends adding a driver or two to your team. A few of his pro tips include:
- Using a template ad that you perfect over time. This will attract the right people with the right mindset.
- Have them perform a simple test such as downloading the DealMachine app and adding a property. This will weed out the unmotivated.
- Make sure to pay a couple of dollars more than Amazon does for drivers in your area.
- Don’t quit too soon. You’ll need to add about 300 properties to DealMachine before a deal goes through. In bigger markets, that number can jump to 1,200.
- You can pay drivers by lead, hourly, or when a deal closes. David prefers hourly, with quotas put in place.
- Hire 2+ drivers at a time in case one doesn’t work out, you won’t have to do hiring/training processes again right away.
- Have a weekly Zoom call to review properties and make any corrections to the quality of the leads.
- Utilize the training videos in Deal Machine for your drivers or create your own.
Driving for dollars is the fastest way to get instant results. It’s important to set clear expectations of your drivers and your intended results. Set expectations, make a plan, and don’t quit too early. I always tell you to trust the math.
I’d trade $5k for a $25k profit all day. Run the numbers for your market, make a plan, and utilize Carrot and Deal Machine to build your real estate business!
P.S. – Did you know DealMachine lets you try their app for 7 days for free? Go to DealMachine.com/Carrot to try it out and get a co-branded Carrot + DealMachine experience!