Driving for Dollars Neighborhood Selection

[Corey Depuy]

While I'm sure that the answer to this question is "whatever fits your criteria for your personal goals", I'm curious to know what peoples' selection process looks like when choosing neighborhoods to D4D.

First, I'm sure you narrow it down to the divisions in your price range, but then what? Is there something that stands out as a lead generating neighborhood?

[Braden Smith]

You will want to choose an area that is convenient for you to begin with, maybe even your own neighborhood where you live, or at least somewhere that is not too far for you to get to. But first, you need to decide what your strategy is... is it wholesaling, flipping, buy and hold, etc? Once you choose the strategy you can then choose an area based on your goals. 

For example, if you are looking to wholesale or flip you will want to target an area that has a good bit of activity, and by activity I mean properties are being bought and sold. You can look online at some of the real estate sites to see how many properties have been sold in the last 6 months and also take notice of the days on market... how long did these properties take to sell. The quicker the better! Driving the neighborhood is another way to get a feel for a farm area. If you see a bunch of dumpsters in driveways and on the street where renovations and new builds are happening it is pretty safe to say that area is hot.