We reviewed what active investors are doing right now, compared it with DealMachine’s training resources, and added IRS guidance for the rental side. This is what we came up with.
On the DealMachine REI Podcast, DealMachine founder David Lecko spoke with young investor Kapil Singla about going from long work weeks to closing over 100 wholesale real estate deals and building rental wealth.
If you want financial freedom through real estate, your biggest advantage is not your resume. It is your ability to take consistent action on simple steps, even when you feel “new.”
Kapil said it plainly:
“I didn’t know about wholesaling… I learned after the fact that I could do that. That was a game changer for me.”
And this one hits even harder when you are starting out:
“There was no plan B… Whatever I could do, I did.”
Those lines matter because they show the real formula: move first, learn fast, and build a system you can repeat.
Why Beginners Get Stuck (And How To Get Unstuck)
Most beginners do not fail because they are “bad at real estate.” They fail because they wait.
They wait for:
- more money
- better market conditions
- more confidence
- the perfect script
- the perfect mentor
Real estate rewards motion. Every week you do outreach, you gain skills that no course can fully give you.
Unstuck looks like this:
- Pick one area.
- Pick one list.
- Do daily outreach.
- Follow up until you get a clear yes or no.
That’s it. The rest is improving the system.
Why Wholesaling Is The Fastest First Step
Wholesaling can be a strong starting point because it helps you learn the whole deal cycle without taking on a full rehab.
At a basic level, wholesaling is:
- Find a motivated seller.
- Get the home under contract at a price that leaves room.
- Assign that contract to a cash buyer for a fee.
Kapil’s first deal happened when a seller called with a property heading toward a tax auction. He bought it and sold it to another investor, making around $7,000.
That first check matters. It proves you can create income with skill, not luck.
Wholesaling Builds “Deal Reps” Fast
Wholesaling helps you build:
- pricing instincts
- negotiation skill
- buyer relationships
- follow-up habits
- confidence from real outcomes
Those reps are what turn a beginner into a real operator.
Case Study Deal Table (Use This In Your Business)
To add more “high-effort” clarity, here’s a simple deal tracking table. You can copy this into a spreadsheet and update it as you go.
Kapil’s Deal Timeline Snapshot (What We Can Confirm Publicly)
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Deal
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Lead Source
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Seller Situation
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Marketing Cost
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Contract Price
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Assignment / Profit
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Key Lesson
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1
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Inbound call
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Tax auction pressure
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Not shared
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Not shared
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About $7,000
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Move fast, learn after
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Your Next Two Deals (Fill This In As You Close Them)
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Deal
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Lead Source
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Seller Situation
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Marketing Cost
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Contract Price
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Assignment Fee
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Key Lesson
|
|
2
|
|
|
|
|
|
|
|
3
|
|
|
|
|
|
|
Why this table matters: It forces you to track what actually creates income. Over time, you will see which list and channel produce your best deals.
The “Unknown Equity” List Explained (And How To Build It In DealMachine)
Kapil described the “unknown equity” list as a strong source of opportunity because some ownership situations do not provide clean loan or equity details.
Here’s how to turn that idea into a real, usable list using DealMachine List Builder, so you are not stuck in theory.
DealMachine’s List Builder lets you pull targeted lists using filters, then save them as Smart Lists that update over time.
A Simple “Unknown Equity + Motivation” Build
Inside List Builder, start with these filters (keep it simple at first):
Step 1: Choose Your Farm Area
- Pick 1–3 zip codes or a small county area where you can learn well
Step 2: Start With Property Basics
- property type: single-family or small multi-family
- owner type: individual (not a company), if available
Step 3: Add Motivation Signals
Pick 2–3 to start:
- absentee owner
- vacant (if available)
- tax delinquent
Step 4: Add Equity Or Mortgage Clues
In DealMachine, you can also filter leads using mortgage and equity-related filters.
If your goal is “unknown equity,” pair it with another motivation signal above, so your list is not too broad.
Step 5: Save As A Smart List
Smart Lists refresh based on the filters you set, so your list stays current without rebuilding it every week.
Why This Works
“Unknown equity” by itself is not magic. The power comes from combining it with real-life motivation signals and consistent follow-up.
Scripts That Add Real “How To” Depth
Below are simple scripts you can use right now. Keep them short. Your goal is a conversation, not a speech.
Cold Call Opener (20 Seconds)
“Hi, is this the owner of [address]?
My name is [name]. I’m calling because I’m looking to buy a house in the area.
Have you thought about selling that property, now or in the near future?”
The Motivation Question
“What would need to happen for you to feel good about selling?”
The Price Anchor Without Sounding Pushy
“If we bought it as-is and made it easy, what number would you need?”
The Close For Next Step
“Ok. The next step is simple. I’ll take a quick look at the property, then I’ll bring you an offer.
Is today after 5 or tomorrow morning better?”
If you want this to run like a system, track every call, every follow-up, and every “not now.” DealMachine’s CRM workflow and marketing tools are built for that kind of repeatable outreach.
Buying Rentals For Tax Benefits.
Many wholesalers stop at quick cash. The long-term move is to buy rentals when the numbers make sense.
The IRS explains how rental income, expenses, and depreciation work in its rental property guidance.
Depreciation rules and reporting are covered in IRS resources like Publication 527 and Form 4562.
Important note: depreciation and cost segregation can get technical. The right move is to talk with a CPA who works with real estate investors before you try to “get fancy.”
Your Next Steps This Week
If you want financial freedom through real estate, do this now:
- Build one Smart List in DealMachine using 2–3 motivation filters.
- Send mail to a small batch or call 50 owners per day.
- Track follow-ups weekly until you get contracts.
- After your first few checks, raise your minimum profit goal.
- When profits are steady, start shopping for a rental that fits your buy box.
Action beats experience every time.
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