Driving For Dollar Successes

Comments(9)

• 
  jackman29th January, 2004

  hey kingT,
  
  i drive philly all the time and i get tremendous numbers of leads but i have a ridiculously low response rate to my letters when i think i've found an owner (of an abandoned property). it almost makes me not want to continue. but i still do - just not as much.
  
  go for it man!

• 
  InActive_Account29th January, 2004

  Hi KingT,Join your local REI club because you will meet people who are seasoned veterans in rei. Also find some birddogs to do the driving,this will allow you more time to evaluate properties.

• 
  noel229th January, 2004

  I would encourage you to continue driving the 'hoods. You will learn about things you never considered.
  Bring your camera and a notepad. Pull your car over and make notes - neighbors will stare at you and you can step out of your car and introduce yourself. Ask about the neighborhood: how they like living there, anyone moved out lately? moved in lately? Make friends and friends become leads and leads become purchases.
  
  Good luck,
  Noel
  [addsig]

• 
  InActive_Account29th January, 2004

  hey kingT,
  
  i obtain most of my properties driving all over the dc metro area. stay aggressive and fear God, especially in the city of brotherly love. by the way, i'm in germantown alot . maybe i'll see sometime in the future. it will a hot area very soon because of the present conditions. thanks. happy investing.
  [addsig]

• 
  results_one29th January, 2004

  Hi:
  Driving around is a good method...I found one of my first prospects that way. My advice: Use it in conjuction with other marketing methods(signs, postcards, etc) to increase your chances of having a motivated seller call that you can work with. I started out, just driving and nothing else. What I found is that it takes time and a little cash to find the sellers(especially if you have to visit the courthouse, send letters, wait for owners to call back) So it is nice to have other efforts going on at the same time.
  
  Good Luck

• 
  Hawthorn30th January, 2004

  Some of us call it "farming", and yes, it pays.
  Choose your ares carefully, some sense of neighborhood and schooldistrict, shopping, etc.
  Anywhere from 400 to 600 houses each.
  With people moving on average every 5 to 7 years each area has between 60 to 100 houses for sale every year.
  Get to know what is offered, quality, size and price, and the avarage time a house is on the market.
  Get toknow the other investors that work your areas, and analyze their deals.
  Make it known that you're in the business of buying houses.
  Pretty soon you will be able to make offers "sight unseen", because you know the product.
  This is your home market; this is where you want to be king.
  3 To 4 well-chosen farm-areas will keep your portfolio filled with homes that fit your criteria; that you know you can make a profit off as you bought them "right".
  Keep it up, and you'll do just fine.
  
  
  [addsig]

• 
  JeffAdams30th January, 2004

  Read the article titled "Driving For Dollars" under archived articles.
  
  The key is to work with a title company such as First American and get a list of all absentee owners in your farm area and contact by letter or phone, whatever it takes to get a hold of them. As well as
  all of the vacant and run down looking
  houses.
  
  Best Riches,
  Jeffrey Adam
  [addsig]

• 
  kingT30th January, 2004

  Thanks everyone for the advice.

• 
  omega131st January, 2004

  This was an older post but i just wonder if you you had any purchase success so far?