Bpers, I thought I'd share the results of an afternoon of driving for dollars...
1) Located 25 distressed properties
2) Various surrounding circumstances and conditions (code violations, foreclosures, "pretty and ugly houses"), etc.
3) I have yet to research the properties to determine if investible. I have yet to contact the owners to determine motivation levels.
Bottom line, there are off market properties. Find them and do a deal. Happy investing!
I believe driving for dollars is one of the best ways to get off market deals. It takes work, time, effort, and gas money and there are plenty of people not willing to do it, therefore, opportunities for those who do.
When you get some actual results from your prospects, let us know, good luck and keep it up.
My method for D4$ is to take a few side roads if you are going somewhere. For instance like if I go from A to B then I will make that route a bit longer, time willing of course, and take a few side roads because ya never know. There might be a Winner in there.
congratulations @Shaun Caldwell , way to use the hustle muscle. I invest with a turn key RE company that primarily acquires thier property this way. They have one full time guy with this responsibility who is paid per acquisition. They sold 230 properties last year.
Question from a newbie. If off market and you didn't look up online how do you define distressed and available? Are you just going up to windows to see if empty, vacated, etc? I did drive up to a house I knew is foreclosed on and for sale a few days ago but I knew from online research it was foreclosed on. I'm just curious how you knew it was available as well as distressed just from a drive by.
Thanks for any answers. Joe.
My wife and I like driving around looking at houses. I have a hard time telling what might be something to look further into though. Has anyone done a guide on driving for dollars on here?
@Joe Bushman I am looking for signs of neglect. Piled up newspapers, deferred landscaping and maintenance, yard signs, notices on the front door or windows of the home, windows without drapes or blinds, etc. From there you can search for the owner of the property via your local tax assessor website and determine if you want to contact the owner to find out more about the property and circumstances surrounding it.
@Shaun Caldwell Thanks I haven't read those posts yet.
I love driving for dollars, & have gotten pretty good at determining which houses are vacant by looking at them. But once I look up the owner online via tax records, I hit a wall when I search for their contact info online (if I find something via AnyWho.com, the number is often disconnected--and any mailings often come back undeliverable.)
@Shaun Caldwell , do you ever have this problem? How do you track down the property owners in your neck of the woods?
I've run into the same problem myself. I like to use PropertyShark.com if I need owner info or property info on a case-by-case basis. I believe you can get one property report for free when you create a free account. If you need more reports, there is a subscription you can do monthly. Hope that helps!
Here in Oregon you can get connected through a title company with an online database that allows you to search by address for the owner name(s) and mailing address. It may be the same in your market, look into it and find out. Driving for dollars is a true and tried method.
For those who hit a wall with the tax assessor website information, try cross referencing the owners name with the court records. In my state the court records are available online as well estate records & that's the order I search:
They almost always produce results.
Hi @Shaun Caldwell , how did those driving for dollar leads go for you?
Just did my first driving for dollars today. There were plenty of dead lawns but it didn't really look like any properties were distressed. So many lawns were just terrible. My campaign is in my neighborhood which if a property goes up for rent is usually snatched within 24 hours. People complain about how prices are rising here; could this be the reason I only found 2 properties in a whole hour of searching? This seems like a very low amount of properties to find in a 2 hour period.
Any suggestions on what I am doing wrong?
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