Any point in "driving for dollars" if using absentee list?

5 Replies

Is there any point in "driving for dollars" if yoi will be using a list broker for absentee lists? Seems like d4d would be a huge waste of time if any leads you might find would b also be in your absentee list no? Thanks

Oops, I asked this before. Don't see a way to delete it.

But actually the question of 'will the list contain all the leads you could find in d4d' wasn't quite answered. Anyone have a definitive answer on this if there is one?  Basically is there ANY point at all d4d if you'll be using a list?

Absolutely. Not all absentee owners are motivated to sell and there are plenty of people that need help getting out of their properties that are living in them. One way to identify the latter is to drive for dollars.

@Benjamin Cowles  The main purpose of driving for dollars is to find houses that are abandoned and in disrepair.  This shows a lack of interest or capacity to maintain the property which sometimes means you can get a really good deal on it.  They could be highly motivated or completely disinterested.  Either way can result in a big discount. The public record address of many houses that have been abandoned will still show the physical address as the owner's address.  In those cases, the owner is probably having the mail forwarded to their current location which means that their house would not show up on an absentee list.  Mailing to absentee owners is still a good idea but you'll miss some opportunities that are only available with d4d.

Yes!

Take action. 

The point of driving us to become sensitive to opportunities and spot them efficiently. 

If you want to learn a new geographic market, there's nothing like driving or even walking parts of it. 

Map it out. Be scientific and strategic. Make lots and lots of notes. Use your time in the field to check on things and office time for research. Talk to people. 

I once complained to a code enforcement supervisor that they were riding me too hard on my rehab project. I then changed tact and asked him if they had any abandoned properties. He said yes and I still have that property-free and clear- now 9 years later as a great little rental. 

I think there are a few good reasons for driving absentees..

  • You'll notice For Rent signs which are a great indications of possible motivation. And you'll have their number...
  • you'll notice unkept property which is also an indication of possible motivation.
  • You'll certainly find other opportunities
    • FSBOers
    • Abandons
  • As @Rick H. mentioned learning the area is a key component to success.
  • As big is the idea that you're taking action... Too many wait for the telephone to ring.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you