Driving for dollars

Wholesaling
6yFollow

Driving for dollars

Yenisel Avila
Miami, FL · Member since 2020 · 24 posts · 13 votes

Hey guys and gals!

I’m driving for $$ now using the Deal Machine app and there is a property that the app states has an absentee owner, but I spoke with the woman who is currently renting at this property and she said that her landlord is a realtor and gave me his name. Anyone know what this can mean?

7Reply
67 views

Most Popular Reply

Jerryll Noorden
Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
5y
Originally posted by @Brian Wiggins:

@Jerryll Noorden I'm looking into driving for dollars (not sure how else to find deals), but would love to hear what is the better use of time would look like

 Hey man, check this out...

This time of year is notorious for all the leads drying out. X-mas on the way, Thanksgiving about to hit, Its cold, post election, Corona.

So the leads have significantly dropped... YET...

All these leads are free. All these leads are on autopilot coming into my inbox, and I do not lift a finger getting them. I literally do nothing anymore... for 3 years now have I not lift a finger or done any effort getting these.

Your time driving for dollars would be FAR better spend doing the work now getting a kick-*** website, building authority in your market and establishing credibility, so that 4-6 months from now you too don't have to lift a finger!

Website, SEO, Credibility! With this, your online presence will look like this:

Investors don't think, they are stubborn, they get cranky and pissy and insulted when you dare telling them their method is not really good, instead of friggin LISTENING!!  Don't be one of those.

If you are one of the few that actually thinks, uses reason, learn absorb,... you have then set yourself apart from the 99% of all the investors on BP!

13Reply
See this reply in the discussion

55 Replies

Jump to latestLatest
  • Ellis San Jose
    Specialist · Westlake Village, CA · Member since 2010 · 1k+ posts · 781 votes
    6y

    The owner has a real estate license.

    4Reply
  • Jerryll Noorden
    Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    6y
    Originally posted by @Ellis San Jose:

    The owner has a real estate license.

     AND is an investor!

    Dude, don't Drive for dollars man.

    Waste of time my dude!

    4Reply
  • Brian Wiggins
    Member since 2020 · 15 posts · 4 votes
    5y

    @Jerryll Noorden I'm looking into driving for dollars (not sure how else to find deals), but would love to hear what is the better use of time would look like

    1Reply
  • Ramiro Garcia
    Flipper/Rehabber · Orlando, FL · Member since 2016 · 6 posts · 3 votes
    5y

    @Yenisel Avila

    I would still reach out and see if they want to sell. Don’t discard a lead just because the owner is a license agent. Ask them if they are interested in selling, if yes great make an offer if no just move on to the next.

    Also, I would try to do something you can be more valuable with your time, other ways of reaching to sellers

    2Reply
  • Jerryll Noorden
    Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    5y
    Originally posted by @Brian Wiggins:

    @Jerryll Noorden I'm looking into driving for dollars (not sure how else to find deals), but would love to hear what is the better use of time would look like

     Hey man, check this out...

    This time of year is notorious for all the leads drying out. X-mas on the way, Thanksgiving about to hit, Its cold, post election, Corona.

    So the leads have significantly dropped... YET...

    All these leads are free. All these leads are on autopilot coming into my inbox, and I do not lift a finger getting them. I literally do nothing anymore... for 3 years now have I not lift a finger or done any effort getting these.

    Your time driving for dollars would be FAR better spend doing the work now getting a kick-*** website, building authority in your market and establishing credibility, so that 4-6 months from now you too don't have to lift a finger!

    Website, SEO, Credibility! With this, your online presence will look like this:

    Investors don't think, they are stubborn, they get cranky and pissy and insulted when you dare telling them their method is not really good, instead of friggin LISTENING!!  Don't be one of those.

    If you are one of the few that actually thinks, uses reason, learn absorb,... you have then set yourself apart from the 99% of all the investors on BP!

    13Reply
  • Justin Reed
    Wholesaler · Member since 2020 · 140 posts · 89 votes
    5y

    @Brian Wiggins

    Check out wholesaling and direct mail. You can buy and sell anywhere without visiting. It works for land and houses.

    I'm direct mail acquisition machine. I pull assessor data (with a direct link) of the type of properties in the areas I want and send ALL the property owners an offer. I scrub the list to remove things like properties with a mortgage, duplicates, etc. and spend a tremendous amount of time on pricing, because although these offers may be a lot less than retail, they are not out of the question. I explain in my offer letter to sellers that I am a serious investor, not and agent/broker, I pay cash, and are prepared to close as soon as x days.

    Then I sit back and wait for the motivated sellers to call us. You can of course edit this model to fit how exactly you plan on purchasing and what specific property type you are looking for. Believe me - it works like a charm. That is how I GET THERE FIRST. By the time a deal reaches the MLS or a lead source, someone else has already beat you to it. Also, knocking on doors (aka "driving for dollars") is an outdated way of doing this and honestly isn't worth your time. It's no longer about possible subject to leads - we now have DATA and computers and direct mail to get there first. Please feel free to reach out to me if you have any additional questions - I would love to help!

    9Reply
  • Donnie Jordan
    Contractor · Columbia, MD · Member since 2020 · 12 posts · 4 votes
    5y

    @Justin Reed

    Would that be similar to contacting a title company? I was told I can contact a local title company, and they can give me a list of properties that fit what I’m looking for in my area.

    0Reply
  • Justin Reed
    Wholesaler · Member since 2020 · 140 posts · 89 votes
    5y

    @Donnie Jordan You can, but I wouldn't recommend that. You don't know how fresh their data is, it usually comes in widely varying formats that are hard to work with, it's often incomplete data, and you can't really control the exact criteria. You would have to spend a ton of time to get it into a usable format, and even then it might not be "good" data.

    I would much rather do it myself and know I'm doing it right.

    0Reply
  • Maj Valero
    Real Estate Agent · Laguna Hills, CA · Member since 2019 · 14 posts · 8 votes
    5y

    @Jerryll Noorden I like the idea of creating my own website for leads. I literally just started my wholesaling journey this week. Could you direct me to resources about creating wholesaling website? I don't have an LLC so I'm not sure if that will matter? Thank you.

    2Reply
  • Maj Valero
    Real Estate Agent · Laguna Hills, CA · Member since 2019 · 14 posts · 8 votes
    5y

    @Justin Reed Hi there,

    Do you need an LLC to do direct mail? Could you recommend some software for doing direct mail?

    1Reply
  • Brian Wiggins
    Member since 2020 · 15 posts · 4 votes
    5y

    @Justin Reed very cool thanks for the info! Sounds pretty interesting. How did you choose this model? Is there a YouTuber or program that you followed?

    0Reply
  • Jerryll Noorden
    Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    5y
    Originally posted by @Maj Valero:

    @Jerryll Noorden I like the idea of creating my own website for leads. I literally just started my wholesaling journey this week. Could you direct me to resources about creating wholesaling website? I don't have an LLC so I'm not sure if that will matter? Thank you.

     Hey Maj,

    I will PM you my awesome resource to not just start wholesaling but to create a wholesaling empire and the best part? Hit the ground running with a potential of 6-figures/month within a few months!

    To address your other question. You do not legally need an LLC to do any of this. But the second you are a business you should be protected somehow. Sooner or later you should get an LLC or some sort of liability protection, so why not now?

    I'd say, if you are planning to make it big in this business, just get it now.

    4Reply
  • Brian Wiggins
    Member since 2020 · 15 posts · 4 votes
    5y

    @Jerryll Noorden could you PM me as well. I'd be interested in checking this out as well. Thx!

    0Reply
  • Justin Reed
    Wholesaler · Member since 2020 · 140 posts · 89 votes
    5y

    @Maj Valero You don't need an LLC, most people do their first few mailers without one and then set one up as you grow. That's what I did and it worked great. I use RealQuest or DataTree for my data depending on if it's land or houses and my other criteria.

    @Brian Wiggins Honestly I tried a bunch of different things and just landed here because it works amazingly. I make more with less effort, no driving for dollars, etc etc. I followed the Land Academy folks. I can definitely send you in the right direction with some links if you want to send me a message.

    3Reply
  • Jerryll Noorden
    Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    5y

    And all, 

    DMM is absolutely not as the person above me is making it seem to be.. AT ALL!

    ANYONE that has experience with DMM will attest to this. It is not at all as simple as, send mailers out , sit back and motivated sellers will call you.

    Seriously?!

    Good lord man.

    First of all, most of the callers will be people that are friggin PISSED OFF at you yelling at you swearing at you, threatening you, telling you "I will find out where you live", they tell you to go "love" yourself... very hard!, but they use an other 4 letter word, that doesn't sound quite as nice as "love".

    And then you are dealing with spending thousands of dollars, to find people.. .yup just "people".. meaning... the whole DMM thing is the most backward and retarded form of marketing that exists, next to bandit signs.

    See, you spend thousands on mailers, lists, and skip tracing (yeah, definitely not as simple as sending mailers and sit back), and with a less than 3% open rate,  .. means more than 97% of your money spent on these mailers PLUS skip tracing etc. etc, went to people that have ZERO intention of selling their house.

    YES.. the shear bulk of your dollar is going to people that have ZERO intention of selling to you!!

    Instead of spending a ton of money effort drama and headache,  and only AFTER you spend the money to find "people" only THEN are you going to ask them if they want to sell. If they don't.. you ALREADY spend that money  on them to find them. It is plain and simply STUPID! STOOOPID!

    Instead don't you think it  is a LOT better to ONLY spend money and effort AFTER you know they are serious about selling?

    No argument there right?

    Newbies..  stop jumping up rushing into things the second someone say something works. 

    Look my precious... SOOO many people are getting into this space right?

    ALL of them go do DMM. WHY would you stand out? Do you know how many letters a single seller gets from investors?

    And if one of these friggin investors does something stupid, like insult them or sends a stupid card, .. ALL OF YOU that send them a letter will be considered "idiots", just because one of you was greedy, impolite, rude etc. etc.

    Do what ever you all want seriously.. but for pete's sake.. THINK!!

    Do this the right way. Get yourself a website. Build authority and trust using that website, and you will become far more successful that way!

    Website --> Credibility --> SEO --> Facebook Ads/PPC --> Make money NOW!

    No offense.. but if after this message people are still going to do DMM... you deserve what is coming to you!

    4Reply
  • Scott TitusPro Member
    Rental Property Investor · Lake Ozark, MO · Member since 2017 · 102 posts · 86 votes
    5y

    @Brian Wiggins

    I complete disagree that driving for dollars does not work. It has worked TREMENDOUSLY for me and I don't spend more time than necessary driving. I purchased a 16 unit multi in August for $151k from driving for dollars, this has also led me to go under contract on 3 other multi's from the same owner. All but 1 of my properties has come from driving for dollars and we've got 5 duplexes and 2 SFR's and now the multi.

    I use my time very wisely and am very successful in the properties I target, plus it doesn’t cost me hundreds a month to keep up with.

    10Reply
  • Courtney Stephens
    Member since 2020 · 3 posts · 0 votes
    5y

    @Jerryll Noorden I would love that info as well if possible

    0Reply
  • Courtney Stephens
    Member since 2020 · 3 posts · 0 votes
    5y

    @Justin Reed would you please

    0Reply
  • Mohamed Fakih
    New to Real Estate · Dearborn Heights, MI · Member since 2020 · 12 posts · 8 votes
    5y

    @Justin Reed hey man! I would be interested in learning more about the direct marketing you do to increase leads to you and faster so that you can find deals. I’m just starting my real estate investment journey and want to attract more leads my way.

    1Reply
  • Mohamed Fakih
    New to Real Estate · Dearborn Heights, MI · Member since 2020 · 12 posts · 8 votes
    5y

    @Scott Titus what do you do before hand to maximize your time for driving for dollars? What research of the market? Any particular time of day, etc?

    0Reply
  • Dominique Pratt
    Sacramento, CA · Member since 2019 · 26 posts · 1 vote
    5y

    @Justin Reed

    Hi Brain what platform are you using to get these leads?

    0Reply
  • Account Closed
    Investor · Member since 2020 · 33 posts · 12 votes
    5y

    @Scott Titus can you elaborate more on how you optimize your driving for dollar time? What do you look for when you’re driving, do you already scope out an area before hand? How do you plan and execute?

    0Reply
  • Jerryll Noorden
    Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    5y
    Originally posted by @Scott Titus:

    @Brian Wiggins

    I complete disagree that driving for dollars does not work. It has worked TREMENDOUSLY for me and I don't spend more time than necessary driving. I purchased a 16 unit multi in August for $151k from driving for dollars, this has also led me to go under contract on 3 other multi's from the same owner. All but 1 of my properties has come from driving for dollars and we've got 5 duplexes and 2 SFR's and now the multi.

    I use my time very wisely and am very successful in the properties I target, plus it doesn’t cost me hundreds a month to keep up with.

    OK dude, stop for a second. I understand everyone has the right to an opinion. But the fact is, you can disagree all you want, that doesn't make you right even if you THINK you are. What you are saying still is factually completely incorrect.

    First:

    I never said you can't make a deal driving for dollars. Of course you can (get lucky).  But to say something like "Oh it works because I got a deal (back in August) and I made 300 gazillion dollars", is flat out wrong! Seriously.. do you really not see that?! 


    Just like YOU can say "I got a deal", 15 million other people WILL say, "I did it for 5 years and I got NOTHING". Why is YOUR testament of "I got a deal, so it works "TREMENDOUSLY"" the right one, and the fact that soooo many people are trying that daily, and fail, is completely ignored?! 

    So when you develop a vaccine for a deadly virus... you test it with 3000 people and every single time you inject a person they implode with bloody guts all over the place and at the 2804th person they get cured, you say.. finally... that vaccine... "I knew it!!  IT Works TREMENDOUSLY". 

    How can you say it works tremendously just because 1%? 3%? 15%? hell even if it was 50% of the people that get a deal... it still would be considered random. How many people have been driving for dollars? How many people get deals reliably like clockwork doing driving for dollars?

    Let me show you what "it works TREMEDOUSLY" REALLY looks like:

    1) Bought this green house for 10 dollars

    Lead found me. I didn't find them. ZERO work, ZERO effort, ZERO gas spent wink wink.. 

    2) And before that I bought this house for 11K

    Lead found me. I didn't find them. ZEO work, ZERO effort,

    3) And before that I bought a house for $5K... Lead found me. I didn't find them. ZEO work, ZERO effort,

    4) and

    5) This is what "it works" looks like (in MY book at least). And ignore the 1.88M. M stands for Monkeys. How much money is made is not relevant here. What IS relevant is the predictability of the end result.  The point is the graph! It works means I KNOW that if I do "this" I WILL get "that" no question about it!



    I understand people need to make their own mistakes.. I am done convincing people that they need to start actually THINKING.

    Nothing you said has any relevance here. You making a deal doesn't mean "it works".

    "Making a deal" means, you made a deal. Period. Making reliable deals, every time you do a strategy and it works, expected ly, you can count on it, reliably, .. THAT is "it works".

    Lastly... here is why being stubborn/stupid/ignorant/unaware/etc. etc. is dangerous (I an not calling you any of these names.. but the fact remains... irrelevant how or why you don't listen...). When and IF your competition WILL take my posts seriously and start applying. You WILL be destroyed. NO question about it. And if D4D is the way you spend your time... I PROMISE and I GUARANTEE it. Your business will be completely annihilated by investors like me. My methods don't just make me serious money, but it also gets my competitors destroyed! I take ALL their deals, without even trying! And by the time you realize it, it's too late!

    What ever you think or decide to do.. time will tell if you made the right decision!

    0Reply
  • Matt Hall
    Rental Property Investor · Orlando, FL · Member since 2019 · 13 posts · 12 votes
    5y

    It’s good to understand and experience all marketing methods when first starting out so you know if it works for you or not. YouTube helps cut out some of waste ($) and great for education.

    DMM is tough and expect to put in thousands before seeing a return. I’ve done it and don’t like it. I receive them on my properties and ehhh. I do keep them for the info. **Make sure you don’t use your cell number...get a Google/CallFire number incase you quit the business.

    Driving for Dollars is a great way to understand your market and area. You can literally see current conditions and potentially different levels of motivation. I’ve done it, like it and will continue to do it over time. I’ve used DealMachine and discontinued it since I’m not consistently driving.

    Website/Credibility/Meetups are great ways to organically build your real estate business. I’m currently working on this method. I’ve built several websites so this part will be easy for me.

    Mastermind Groups are good ways to immerse yourself and learn from like-minded people. It can be expensive. I’m currently in one.

    FYI - take in all info but make sure you do your research. People give information which may be correct and great but sometimes they have an alternative motive.

    3Reply
  • Scott TitusPro Member
    Rental Property Investor · Lake Ozark, MO · Member since 2017 · 102 posts · 86 votes
    5y
    Originally posted by @Mohamed Fakih:

    @Scott Titus what do you do before hand to maximize your time for driving for dollars? What research of the market? Any particular time of day, etc?

    I know my market and target areas I know to be specific to what I'm looking for.  For example, I like more rural areas, class C and B specifically and I look for residences that just look to need some TLC in neighborhoods that are typically more kept up.  It sounds cliche, but there's a reason driving for dollars has been around for a LONG time...it's because it does work.  I know the individuals I typically target are 50's and up, I know they are getting to the point of their lives where they are ready for something else, or ready to be done dealing with headaches.  

    I can't say I only go on Saturday's or only go at 3:00 pm, but I try to target being in areas when the weather is a little nicer and weekends. I like seeing people outside and seeing how they react, you never know if you'll get lucky enough to catch someone outside of their house.  Lately I've been targeting smaller multi-families and I've been relatively successful in going under contract with 4 and closing 1 so far, the other 3 are set to close after the first of the year.  I target these exactly the same way except I know I won't see the owner outside, but I have gotten owner information from tenants and found out a LOT of information about the location from the tenants.  Nothing special, there is not "secret" to it, just legwork and it's been super successful.

    1Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free