What Is Driving For Dollars? The 5 Best Real Estate Apps In 2024

Embarking on a journey in the real estate business may feel daunting when unsure of where to plant the first step. However, multiple strategies can ensure success, and one traditional yet straightforward method is driving for dollars.

According to Redfin, as of May 2024, U.S. home prices have experienced a 3.1% decrease compared to the previous year, with the median price now standing at $419,103. The total number of homes sold dipped by 16.8%, resulting in 493,123 homes sold during May 2024. This figure marked a downturn from the 592,347 homes sold during the same period in the preceding year. The prevailing 30-year fixed-rate mortgage is now 6.4%, showing a rise of 1.2 points year over year.

These changes in home prices can signal the shifting levels of home affordability. Given these trends, driving for dollars presents a highly effective strategy to capitalize on these market shifts, potentially paving the way for profitable real estate investments.

So if you're looking to maximize the use of driving for dollars apps or considering the driving for dollars real estate strategy, you're in the right place. Learn what driving for dollars is, how to get started, and our picks for the 5 best driving for dollars apps to use in 2024!

• What Is Driving For Dollars?
• What Are Driving For Dollars Apps?
• Top 5 Best Driving For Dollars Apps In 2024
• How To Drive For Dollars In 9 Steps
• What Is Virtual Driving For Dollars?
• What Is The Driving For Dollars Success Rate?
• Driving For Dollars: Frequently Asked Questions (FAQs)

 Ready to take your real estate investing to the next level? Learning Driving for Dollars is just the beginning. Schedule a FREE Strategy Session with us to learn how our Ultimate Investor Program can unlock even more opportunities and strategies in your market. Don't miss out—take the next step toward maximizing your investment potential today!

What Is Driving For Dollars?

Driving for dollars/Driving 4 dollars is a proactive marketing technique that real estate investors leverage to identify and capitalize on potential property deals. This strategy involves actively driving or touring neighborhoods to find off-market properties, distressed properties, vacant homes, and foreclosure or pre-foreclosure houses.

Embracing the driving for dollars real estate approach is akin to initiating an active new-business marketing campaign. It involves gathering valuable data on specific properties and locations that you otherwise would not be able to amass simply by scrutinizing demographic data on your laptop. This hands-on approach not only helps to build a list of vacant or distressed properties, but it also grants you a direct channel to reach and market to potential sellers in targeted neighborhoods.

While the primary goal is to identify properties under distress or likely to be distressed, the type of properties to look out for may vary depending on whether you're an investor, agent, or local business. Therefore, a keen understanding of what to search for and where to look is critical for those keen to reap the benefits of this strategy, also known as 'D4D'.

Despite the potential time investment required in driving for dollars, it can prove highly rewarding for all types of real estate investors, especially those engaged in wholesaling real estate. And if you're serious about this strategy, utilizing a drive for dollars app can significantly streamline your efforts.

So, whether you prefer to drive, bike, or walk, embracing driving for dollars can be your gateway to uncovering lucrative real estate opportunities and maximizing your investment returns.

While driving for dollars can be an effective strategy, you can learn to find potential wholesaling or house-flipping properties directly from the MLS! Learn how to effectively utilize this strategy today with Real Estate Skills FREE Training with Alex Martinez!

What Are Driving For Dollars Apps?

Driving for dollars apps are specialized digital tools designed to streamline and enhance the traditional driving for dollars strategy in real estate investing. They are typically mobile applications that aid investors in identifying, researching, and contacting homeowners of potential investment properties, particularly distressed or off-market ones, while on the go.

These apps feature capabilities such as GPS tracking for efficient route planning, real-time property owner data access, list-building for potential properties, direct mail campaign creation, and more. They essentially digitize and simplify the entire process, allowing investors to focus more on negotiation and deal-making rather than administrative tasks.

In essence, driving for dollars apps take the manual elements of the strategy and transform them into a seamless, automated process, making them an invaluable resource for modern real estate investors.

Read Also: 18 Best Apps For Real Estate Wholesalers (2024 Edition)

Top 5 Best Driving For Dollars Apps In 2024

Utilizing the right technology is vital in the fast-paced world of real estate investing. In the context of driving for dollars, a strategy that requires significant data collection and analysis, leveraging the right app can significantly enhance your efficiency and results. That's why we've tapped into our expert knowledge to identify the best driving for dollars apps available in 2024, thoroughly evaluating them based on key parameters crucial for real estate investors.

Driving for dollars apps have revolutionized the traditional approach, swapping scribbled notes and highlighters for a digital, organized, and efficient system. The best apps in the market allow you to pre-plan optimal routes, track your exploration, access property and owner information instantly, and even launch direct mail campaigns, all in real-time.

However, not all apps are built equally, and the ideal choice for you depends on a host of factors including cost, features, and performance. To simplify your decision-making process, we've analyzed the top driving for dollars apps for 2024 and broken down their strengths and weaknesses, so you can pick the perfect tool to augment your property hunting.

Here are the 5 best driving for dollars apps in 2024:

• DealMachine
• REsimpli
• PropStream
• Batch Leads
• PropertyRadar

 

DealMachine

DealMachine has positioned itself as a highly valuable tool in the realm of real estate investment, aiding investors to discover potential property deals in their desired location. This driving for dollars app streamlines the process of identifying distressed or vacant properties, gathering comprehensive data about the property and its owner, and establishing a first point of contact via postcard or email. 

With DealMachine, you can make informed decisions and promptly act on promising investment opportunities.

Features

DealMachine comes packed with numerous innovative features, including:

• Route Tracking: This tool prevents redundancy in driving by keeping track of the areas you've already covered.
• Property Highlights: This feature helps you in real-time to identify properties that have the most potential for a lucrative deal.
• Automated Mail Sequences: Simplify follow-ups with automated direct mail sequences.
• Driver Recruitment: Scale your operations by recruiting and training additional drivers for scouting properties.
• Drive Session Summaries: Keep track of each driver’s productivity with details on locations covered, dates, and number of properties added.
• Comparable Sales Data (Comps): Understand the local market by checking what similar properties are selling for.
• Data Export: Effortlessly export your data for additional processing or backup.
• Postcards & Batch Skip Tracing: Contact potential sellers directly with pre-written postcards, and rapidly skip-trace leads for quick access to owner contact details.
• Google Street Images: Add property images to your mail for a more personalized touch.

Pricing

DealMachine's pricing is structured across three tiers:

• Starter Plan: At $49/month (annual subscription), this plan supports one driver and offers 500 skip-tracing leads per month. Skip tracing costs $0.14 per lead.
• Professional Plan: Priced at $99/month (billed annually), this plan supports two drivers and offers 1,000 leads per month, along with route tracking and GPS directions.
• Elite Plan: For $249/month (billed annually), this plan supports up to 300 drivers and offers 10,000 D4D leads per month. Skip tracing costs $0.12/trace.
• Each plan offers a variety of add-ons at $20/month including mail tracking, multi-step mail sequences, comps, and street pictures.

Pros

• User-friendly interface.
• Reliable property owner data with a 96.5% accuracy rate.
• Automated follow-up feature, resending mail to non-responsive property owners.
• Highly customizable postcards.
• Excellent customer support.
• Automated driver recruitment, and supports virtual driving for dollars.

Cons

• Occasional glitches with bulk list uploads and Google street view features.
• Costs more compared to other driving for dollars tools.
• Limited driver support on Starter and Elite plans.
• The virtual driving for dollars feature can sometimes lag or glitch.

Ready to take a test drive with DealMachine? Sign up now for a free trial and jumpstart your real estate investment journey today! And don't forget to check out our comprehensive class to further sharpen your investment skills.

Read Also: DealMachine Review: Is It Worth It?

REsimpli

REsimpli stands out as a comprehensive tool specifically designed to streamline your real estate investment journey. This all-in-one Driving for Dollars app is integrated with REsimpli's own CRM and List Stacking system to provide seamless functionality. It enables you to glean real-time data about properties, determine if they're vacant or already on your lead list, and instantly access complete owner information, saving you precious time and resources.

Features

• Real-time Property and Owner Details: Get instant access to important property and owner information as you drive.
• Driving and Property History: Keep track of your driving routes and properties you've researched.
• Image Integration: Add your own photos or use images from Google MapsStreet View.
• Skip Tracing: Locate the contact details of property owners directly within the app.
• Postcards: Send postcards complete with property images straight from the app.
• CRM Integration: The Driving for Dollars tool is fully integrated with REsimpli's List Stacking and CRM for smooth, uninterrupted workflow.
• Expense Tracking: Stay on top of your marketing budget by tracking every dollar spent.

Pricing

REsimpli's Driving for Dollars tool is included in all three of its pricing tiers:

• Basic: For $99/month, this plan provides one user account, two phone numbers, 500 minutes of calling/month, 500 SMS messages/month, and 20,000 List Stacking records.
• Pro: At $299/month, this package accommodates five users, offers five phone numbers, 2,000 minutes of calling/month, 2,000 SMS messages/month, and 100,000 List Stacking records. Additional features like drip automation and bulk email and SMS are also included.
• Enterprise: Priced at $749/month, this package offers unlimited user credentials, 15 phone numbers, 10,000 minutes of calling/month, 10,000 SMS messages/month, and unlimited List Stacking records.
• Each package comes with a 14-day free trial, weekly "Mastermind" calls, unlimited onboarding support, and free driving for dollar app courses.

Pros

• Integration of the Driving for Dollars tool with REsimpli's CRM and List Stacking system.
• A multitude of features offered at an affordable price point.
• Automated follow-up process.
• User-friendly interface.
• Top-tier customer service.
• Detailed tracking of key performance indicators (KPIs).

Cons

• Only one postcard design is currently available.
• Sending a postcard featuring a property image to multiple properties at once is not possible – it must be done one property at a time.
• CTA: Interested in making your real estate investment journey easier with REsimpli? Sign up now for a free trial and get the most out of your Driving for Dollars efforts. And remember to explore our in-depth class to boost your investing prowess even further.

Sign up today to get 50% OFF your first month and boost your property scouting abilities today!

Read Also: REsimpli Review (2024 Edition) | Real Estate Skills

PropStream

PropStream provides a comprehensive property analysis tool designed for realtors, investors, and real estate brokerages, giving access to information on over 153 million properties across the United States. With functionalities for lead acquisition and management, the tool can also be used as a wholesale real estate CRM. PropStream's Mobile Scout app lets you scan nearby properties in real-time, making it a favored tool for house-flipping investors.

Features

PropStream offers a variety of notable features:

• MLS Comps: When running comps, you can choose MLS Comps, Public Record, or both.
• Skip Tracing: Gain access to owner contact information, including email addresses and phone numbers.
• Postcards: Easily send postcards to potential leads.
• Drive Recording: The app allows you to record your drive for later assessment.
• Route Tracking: Keep track of your routes while driving and pull up key data on the properties you find.
• Rehab Costing: A feature powered by BlueHammer helps you estimate property rehab costs.

Pricing

For $99 per month, PropStream provides access to its comprehensive property database, including county records and MLS comps, over 120 lead filters, and an integrated marketing platform.

The Driving for Dollars feature is included in this plan, and you can add up to 10 Scouts for free. Additional services like Skip Tracing are available at $0.12 per trace, and a list automator addon is available for $27 per month. 

Pros

• Create and manage multiple lists of prospects with over 120 filters.
• Supports virtual driving for dollars.
• In-built comps feature.
• Estimation of rehab costs.
• Allows the addition of up to 10 team members/scouts for free.

Cons

• The UX could be better, with small fonts and a map that can be difficult to navigate.
• Easier to use on a desktop than on mobile.
• Requires a bit of a learning curve to understand the system fully.

If you're a high-volume investor or flipper looking to build extensive, targeted lists, PropStream could be your go-to resource. With a wealth of data and a multitude of filters, PropStream offers a comprehensive package for your real estate needs. Sign up today for a free trial and get ready to streamline your property search with PropStream.

Read Also: PropStream Review (2024): Pricing, Features, & Is It Worth It?

PropertyRadar

PropertyRadar provides a comprehensive real estate discovery and prospecting platform, designed for investors, brokers, and real estate professionals. It offers access to comprehensive data on residential and commercial properties across the United States. It offers a variety of tools for identifying, organizing, and managing property leads, making it an ideal solution for real estate professionals seeking both on-market and off-market properties.

Features

PropertyRadar offers a variety of notable features:

• Property Lookup: Detailed information about properties including owner contact details and property history.
• List Building: Facilitates building of target property lists based on 200+ criteria.
• Driving for Dollars: GPS-optimized tool for property scouting on the go.
• Marketing: An in-built system for managing direct mail, online ads, and telemarketing efforts.
• Third-party Integrations: Seamless integration with over 4000+ third-party applications.

Pricing

PropertyRadar offers three main subscription plans:

• Essential Plan ($39 per month): Includes nationwide property and owner lookup, list building, and property searches with up to 139 search criteria.
• Complete Plan ($79 per month): Includes all features of the Essential plan, along with more comprehensive search criteria, and integration with third-party apps.
• Custom Plan: Tailored solutions for businesses with unique needs, price available on request.

Additionally, services like phone marketing and parcel maps are available at extra costs. 

Pros

• Comprehensive property data and owner details.
• User-friendly interface with powerful list building and management features.
• Seamless integrations with various third-party applications.
• Value for money for both novice and seasoned investors.

Cons

• Some services, such as phone marketing and parcel maps, come with additional charges.

PropertyRadar is a potent tool for real estate professionals, providing a wealth of data and an array of powerful features to enhance their prospecting efforts. Discover both on-market and off-market opportunities with PropertyRadar. Get started with a free trial today and elevate your real estate venture with PropertyRadar.

Read Also: PropertyRadar Review: Is It Worth It?

BatchLeads

BatchLeads is a comprehensive real estate technology platform designed to aid investors and agents in identifying potential buyers and sellers, marketing to them, and closing deals. As part of BatchService’s four REI solutions, BatchLeads provides a full suite of lead generation, lead management, marketing, and analytics services.

Features

• Lead Generation: Search for distressed and non-distressed properties using location, financial, and property-specific details.
• Driving for Dollars: Generate leads by driving through neighborhoods, finding houses to wholesale or buy, and adding them to your BatchLeads list.
• Leads and Lists Management: Organize, manage, and reach out to leads in an organized manner.
• Property Evaluation: Provides comprehensive data on the properties and their owners.
• Skip Tracing: Enables users to find an owner's most recent contact information.
• Marketing: Contact leads through automated direct mailing, SMS campaigns, and in-app calling.

Pricing

BatchLeads offers four subscription plans:

• Personal Basic: Starts from $99/month (or $79/month if billed annually), supports up to 3 users and offers 10,000 monthly leads and 100,000 address storage.
• Personal Plus: Costs $299/month (or $239/month if billed annually), supports up to 4 users, and offers 25,000 monthly leads and 500,000 address storage.
• Team Basic: Costs $599/month, includes 5 workspaces, supports up to 10 users, and offers 75,000 leads and 1.5 million storage addresses.
• Team Plus: Costs $899/month, supports up to 10 users per workspace (200 users max.), and offers 150,000 leads and 3 million storage addresses.
• In-app purchases for skip tracing, letters, and postcards are available at varying rates depending on the plan.

Pros

• Accurate and up-to-date information on properties and owners.
• Advanced filters for faster lead acquisition.
• Import and export lists at no additional costs.
• Integrations with over 4,000 apps via Zapier.
• Mobile app available for Android and iOS devices.

Cons

• Lacks a CRM for real estate wholesalers or investors.
• High subscription fees with many add-on services that come with extra costs.

BatchLeads is a powerful tool for real estate professionals looking for a comprehensive solution to lead generation, management, and marketing. With a wealth of data and diverse functionalities, BatchLeads can be an excellent resource for your real estate career.

Read Also: Batch Leads Review | Real Estate Skills

How To Drive For Dollars In 9 Steps

Driving for dollars is a time-tested, hands-on approach to sourcing potential real estate investment opportunities. It's a strategy that can complement your MLS-focused searches, allowing you to identify distressed or under-valued properties that might be hidden gems.

In the competitive real estate market, diversifying your property sourcing strategies can give you an edge. Driving for dollars, when done in conjunction with diligent MLS searches, can provide you with additional opportunities to identify distressed properties that others may overlook.

Used effectively by investors, house-flippers, and real estate wholesalers, driving for dollars allows you to bypass conventional property search methods and find deals ahead of the curve.

If you're ready to enhance your real estate investing strategies and add another target for your property hunting bow, read our 9-step guide to learn how you can drive your way to success in real estate investing.

1. Select A Specific Neighborhood

When driving for dollars in real estate, it's imperative to select a neighborhood with high potential. Evaluate factors such as:

• Crime rate
• Market demand
• Property age and condition
• Quality of the local education system
• Closeness to key locations like highways and shopping centers

2. Map Out Your Route

To optimize your driving for dollars venture, plan a route that allows you to cover every property in your targeted neighborhood. This helps you stay methodical, preventing any oversights or repeated visits to the same locations.

3. Explore The Area

Driving for dollars isn't just about cars - you can bike, walk, skate, or even rollerblade! The concept extends to virtually driving for dollars too, which we'll delve into later.

4. Identify Distressed Properties

Seasoned real estate investors can spot distressed properties effortlessly. They are key targets when driving for dollars. We'll provide a detailed guide on spotting such potential deals.

5. Record Property Address & Capture Images

Keep a comprehensive list of potential distressed properties. It will be a crucial asset when you start skip tracing and marketing to motivated sellers - property owners ready to sell their property.

Take clear photographs highlighting the distressed state of the property, ensuring the house number is visible. These images may be used when contacting property owners. Utilizing a driving for dollars app can simplify this process, and we'll recommend the best ones later.

6. Skip Trace And Market To Your List

Having amassed a list of distressed properties, the subsequent step is to skip trace the addresses to acquire the owner's contact information.

Employ a free service like PeopleFinders for skip tracing. Once you obtain the contact information, engage in direct marketing using methods like direct mail, yellow letters, emails, phone calls, or ringless voicemails.

7. Cultivate Motivated Seller Leads

Remember to follow up with property owners periodically. Persistence is key here, don't lose heart if they don't respond initially. Stay consistent with your messages, they might eventually consider selling, and you don't want to miss out on a promising real estate deal!

8. Negotiate Offers

Once you establish communication with a motivated seller, come prepared with a price range based on your research of the property's current value, its After Repair Value (ARV), and estimated repair costs. The goal is to negotiate a mutually beneficial deal with the seller.

9. Seal The Deal

You're at the final stage of the driving for dollars journey!

After reaching an agreement with the seller, proceed to open escrow. Make sure to obtain a preliminary title report and check for any liens. Once you've meticulously reviewed the title report and everything looks good, you're set to purchase the property!

Whether your strategy is to fix and flip, apply the BRRRR method, wholesale the deal to a cash buyer, or even move in yourself, it's time to celebrate your successful driving for dollars endeavor!

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*For in-depth training on real estate investing, Real Estate Skills offers extensive courses to get you ready to make your first investment! Attend our FREE training and gain insider knowledge, expert strategies, and essential skills to make the most of every real estate opportunity that comes your way!

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What Is Virtual Driving For Dollars?

Virtual driving for dollars is a virtual wholesaling method that uses online platforms such as Google Maps to look for distressed properties. This is easier and as effective as the traditional driving for dollars method. 

DealMachine has a Virtual Driving For Dollars Chrome Extension that works with your account and is easy to use. The following is a virtual driving for dollars step-by-step process:

1. Go to Google Maps
2. At the bottom right-hand corner, drag the yellow figure to the specific neighborhood where you want to find distressed properties
3. Using the Google Street View method mentioned above, look for distressed properties
4. When you find a distressed property, “pin” the location by clicking the red icon at the top left-hand corner
5. Verify the right property address
6. Double click the distressed property on the map
7. Open DealMachine’s Virtual Driving For Dollars Chrome Extension and click “Add to list” 

Here's a quick tutorial from David Lecko, Founder of DealMachine, on how to virtually drive for dollars using the DealMachine Chrome Extension:

What Is The Driving For Dollars Success Rate?

You may be asking, “Does driving for dollars work?”

Driving for dollars has been proven to be a successful method by countless real estate agents and investors. It is one of the best ways to create a highly targeted list of distressed properties in a specific neighborhood.

Your driving for dollars success rate depends on the effectiveness of your marketing strategies. The key to a high success rate is all about the marketing and sales process after the list is built.

If your direct outreach response rate is above 5%, then you'll be in good shape. Getting a motivated seller on the phone is half of the battle, the other half is agreeing on a deal that makes sense for both sides.

Ask yourself, how much effort are you willing to put in? The saying “what you put in is what you get out” is extremely relevant when driving for dollars because reaching the final step, closing the real estate deal, takes perseverance.

All in all, driving for dollars can be time-consuming, money, and effort to be successful at it. There are other strategies you can use to find more real estate deals in less time.

If you want to learn how to start investing in real estate without using your own capital, Watch our video on “How To Get Into Real Estate With NO MONEY!” Expert real estate investor, Alex Martinez, will help you jumpstart your real estate investing career!

Driving For Dollars: Frequently Asked Questions (FAQs)

Venturing into real estate and curious about the practice of driving for dollars? Or perhaps you're a seasoned investor looking for tips to refine your strategy? Whatever your query, Real Estate Skills aims to clarify all your doubts. Here are the answers to the most common questions around the driving for dollars strategy.

Does Driving For Dollars Work For Wholesaling Real Estate? 

The plain simple truth is yes! Driving for dollars works very well for wholesaling real estate. Wholesaling real estate is just another exit strategy when you find a great real estate deal.

Instead of purchasing the property yourself during the final step, you'll either:

• Assign the contract to a cash buyer
• Double close on the property

The trick is to stay persistent and to avoid getting discouraged during the driving for dollarswholesaling process. It might take a while to find distressed properties and close deals, but the tradeoff is well worth the time and effort you put in.

How Much Do Driving For Dollars Apps Cost?

When using a driving for dollars app, your costs can vary significantly depending on the software and the level of functionality you need. Here's a quick overview of popular apps and their price ranges:

• DealMachine: This app is a real powerhouse, facilitating your property search, list building, and direct marketing to property owners. It offers plans ranging from $49/month for the Starter Plan to $249/month for the Elite Plan.

• REsimpli: With a built-in Driving for Dollars tool, REsimpli offers plans that range from $99/month to $749/month. The cost varies depending on the number of user accounts, phone numbers, and other features you need.

• PropertyRadar: Offering various search criteria, integrations, and marketing features, PropertyRadar's plans range from $39/month for the Essential Plan to a customized price for unique business needs.

• Propstream: For $99 per month, Propstream offers comprehensive property data, an extensive lead filter system, and an integrated marketing platform. Additional services like Skip Tracing are available at extra costs.

• BatchLeads: Providing extensive lead generation and management features, BatchLeads' plans start from $99/month (or $79/month if billed annually) and go up to $899/month, depending on the number of users, leads, and storage addresses you need.

Investing in a driving for dollars app can undeniably optimize your property hunting process. However, these apps come with a price tag, and it's crucial to realize that you can still be successful in real estate without making such an investment. A keen eye, a bit of determination, and the right knowledge can also bring you fruitful results.

At Real Estate Skills, we understand that getting started in real estate investing can seem daunting, especially when it comes to finances. That's why we offer a top-rated wholesaling and house-flipping training program designed to equip you with the essential skills and insights you need to thrive in real estate - without spending your own capital!

Our goal is to help you understand how to maximize opportunities, find the best deals, and build a profitable real estate business.

Why not take the first step towards your new career? Join our free training today and discover how to succeed in real estate, even without a driving for dollars app!

Can You Go Driving For Dollars On Google Maps? 

Yes, you can! Google Maps is a great interactive platform for virtual driving for dollars. By using the Street View feature in Google Maps, driving for dollars can be done and yield profits from the comfort of your own home.

The incredibly advanced Street View in Google Maps offers millions of high-quality panoramic images. You can “walk” the streets of your targeted neighborhood with clear views of houses and real estate images right on your screen. Simply ‘pin’ properties based on their physical observable condition.

Although the Street View does not offer real-time images of the property, the bottom right-hand corner of the screen shows when the image was captured. An image of the property that was taken closer to the present-day will have a higher chance of it being distressed than one that was captured a couple of months ago.

For more, watch this tutorial on how to use Google MapsStreet View: 

Can Anyone Go Driving For Dollars?

Yes! Anyone can go driving for dollars. However, you need to know what to look for when driving neighborhoods and how to effectively use direct marketing strategies.

Driving for dollars doesn’t have to be a one-person job. You can quickly build a team of “drivers” to help you look for distressed properties and bring you a list of leads.

Even if you don't know how to invest in real estate, another option is to partner up with an experienced real estate investor who can handle the list of properties you find.

You can play the role of a "scout" or "bird dog" and earn a fee for finding deals that result in closed real estate transactions. For example, you can charge a fixed amount for each distressed property address you find or even earn a percentage of the investor's profit when the real estate deal closes!

What Should You Look For When Driving For Dollars?

When you drive for dollars, the target properties should stand out from other properties in the neighborhood. Below are the main qualities of a distressed property: 

• Peeling paint
• Damaged siding 
• Overgrown grass
• Boarded up windows or doors 
• Unkept lawns and landscaping 
• Tarps or cardboard over the windows 
• Full mailboxes or multiple packages at the door 
• Notices on the front door or old advertising door hangers 

An expert tip is to go on the day trash gets collected in that specific neighborhood. If the property has some of the qualities mentioned above and there isn’t a bin outside on trash day, the property is likely distressed.

If driving for dollars is something you’d like to do on the side during the weekend, that is the perfect time to do so!

People like to normally sleep in on the weekends, so go out early in the morning and check if there’s a car parked in the driveway. If qualities of a distressed property are present and there is no car in the driveway, then odds are you have found yourself a distressed property.

There are other qualities that are not as common but still good to know when looking for distressed properties. Look out for potential zombie houses and hoarder houses when driving for dollars.

What Should You Do After Driving For Dollars?

After you've gathered a list of distressed properties, the next step is to skip trace the property addresses you found. Skip tracing will provide you with property owners' phone numbers, mailing addresses, and contact information so that you can send them mail, or otherwise get in touch and turn them into motivated sellers.

A website that provides free skip tracing and contact information on specific properties is Fast People Search. By filling out the information needed in the "Reverse Address Lookup" tab, you’ll be able to find the owner’s current home address, phone numbers, and other relevant data to get yourself connected.

Once you have found the necessary information to contact property owners, you will do one or more of the following: 

• Direct mail (letters, postcards, yellow letters)
• Email
• Cold call
• Mail merge
• Door knocking 
• Ringless voicemail (RVM)
• Private message using social media like Facebook or LinkedIn

Remember to follow up and reach out to the property owners again if you do not receive a response within 30 days.

Final Thoughts On Driving For Dollars

Driving for dollars, either traditionally or virtually, serves as a powerful technique for anyone involved in real estate. This approach, when carried out properly, can uncover undervalued, distressed properties that may be off the radar of other investors, providing you with unique opportunities.

The process, from identifying the right neighborhood to finalizing a deal, is a journey that, while made easier by certain apps, doesn't always necessitate a heavy financial investment in technology. Yes, these tools can streamline your efforts, but it's important to remember the key factor in successful real estate investing is knowledge and strategy, not just the latest app.

Would you rather invest hundreds of dollars each month on apps, or invest in learning skills that could make you thousands or even tens of thousands? At Real Estate Skills, we believe in the latter. That's why we invite you to take advantage of our free training course. This program is designed to equip you with the skills you need to confidently and effectively navigate the real estate market, even without pouring your hard-earned money into expensive tools.

Start investing in yourself today. Harness your potential and transform your interest in real estate into a thriving career or profitable side hustle. Sign up for our free training course today and get a step ahead in the exciting world of real estate!

 Ready to take your real estate investing to the next level? Learning Driving for Dollars is just the beginning. Schedule a FREE Strategy Session with us to learn how our Ultimate Investor Program can unlock even more opportunities and strategies in your market. Don't miss out—take the next step toward maximizing your investment potential today!

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*Disclosure: Real Estate Skills is not a law firm, and the information contained here does not constitute legal advice. You should consult with an attorney before making any legal conclusions. The information presented here is educational in nature. All investments involve risks, and the past performance of an investment, industry, sector, and/or market does not guarantee future returns or results. Investors are responsible for any investment decision they make. Such decisions should be based on an evaluation of their financial situation, investment objectives, risk tolerance, and liquidity needs.