All Forum Posts by: David Lecko

Hey Andre, I can help! You're pretty on point by targeting properties that look vacant or distressed. I also look for a mailbox overstuffed with mail and also overgrown grass, which indicate that nobody lives there (meaning the owner is loosing some money every day that he holds it). Check out the "Driving for Dollars Bible" by searching google. It's an editors choice blog from bigger pockets that provide a nice overview. I recently went "walking for dollars" in a neighborhood I really wanted to find a home in. I captured 73 hours in an hour and a half of walking or so. As for anything to watch out for: I usually won't send a postcard if the property was purchased in the last 6 months.

Thanks @Audrey Ezeh I will check out podcast #70

@Jay Hinrichs I think this is geographically near you and I saw that you were an active mortgage broker in the past. Would love to hear if you have any additional ideas.

Hey guys,

A friend of mine that I work with lives in Portland Oregon (technically in Hillsboro).

He wants to buy a $500k house, but is having trouble getting a loan because he had a foreclosure 4-5 years ago.

Now he has his act together and earns enough to buy a $500k house with a traditional mortgage (but he says the foreclosure on his record is holding him back)

I thought maybe this is a scenario where seller financing could be helpful.

Thoughts?

Amazing story.

I loved the questions you asked.

"Is there anything else you'd like to sell?"

Also your persistence paid off.

In the 5 months of mailing, how many times did you mail him?

@Paul Allen helpful. Are you able to recommend an easy to remember best practice for deducing our driving for dollars?

@Account Closed there is an app for systematizing driving for dollars called DealMachine. If you search that in the itunes app store you will find it. (Disclosure: I am the author of the app)

@Brittney Knies

Really interesting question!

Bigger Pockets has a blog out called The Driving For Dollars Bible. Search for that in google and you will find it.

The blog post makes specific recommendations about how to format a letter to the owner. They do not mention using a phone at all (and your question is such a good one for that reason!)

You can't go wrong sending a letter using the language and format from that blog post. 

Typically I've heard wholesalers say it can take sending a letter 6-12 times, sending a new letter about every 3 weeks.

If you do a phone call I would love if you post how your conversation goes.

@Bruce L. driving for dollars is one way to find great real estate deals at below market price. Investors will drive in the car searching for vacant or distressed homes, then contact the owner with interest in buying the house (even though it is not on the market for sale)

Hey Paul great question.

I'm with ya... I always look when driving too.

Here's what I've followed for tracking mileage:

If I am zig zagging through residential streets I count the mileage for a tax deduction. If I am going from point A to point B directly (especially if using an interstate...) then I don't deduct those miles.

Entrepreneur Magazine has a blog out there about the top ten questions you should ask when selecting an accountant. One question from the article is something like "Would you consider yourself a more aggressive or conservative account," suggesting to me there might be some personal choice on something like this.

I love the question.

What do you do?

PS - I've been using the Everlance app for tracking miles. It records all my trips in the background and I can reconcile them any time.

Hey Mike, welcome! I'm interested in your app. Also, you can self-promote and post links for your app in the marketplace forums to get feedback. Bigger pockets also has an e-book on using biggerpockets to grow your business. /biz

Hi Elizabeth, have you tried having your crew upload photos to google drive?

There's a google drive add-on called MyFotoPlaces that might accomplish what you are looking for:

MyFotoPlaces is built around Google Drive/Photos, so you can find and organize your images by the location.