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Updated over 6 years ago on . Most recent reply

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Ronaldo Beaubrun
  • Orlando, FL
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Does driving for dollars work?

Ronaldo Beaubrun
  • Orlando, FL
Posted
I’ve recently started to take action after a couple years of studying the real estate game. I want to start off wholesaling and start marketing, but unfortunately I’m a college kid working on a very tight budget. Someone said that I should consider driving for dollars and start building a list from scratch, but I want to know how effective is that approach? Or, if there are any other cost effective ways to market for good quality leads? And If so, which strategy would help me close a deal in the least amount of time?

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Jerryll Noorden
#2 Marketing Your Property Contributor
  • Flipper/Rehabber
  • Wilton, CT
4,036
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4,752
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Jerryll Noorden
#2 Marketing Your Property Contributor
  • Flipper/Rehabber
  • Wilton, CT
Replied
Originally posted by @Ronaldo Beaubrun:
I’ve recently started to take action after a couple years of studying the real estate game. I want to start off wholesaling and start marketing, but unfortunately I’m a college kid working on a very tight budget. Someone said that I should consider driving for dollars and start building a list from scratch, but I want to know how effective is that approach? Or, if there are any other cost effective ways to market for good quality leads? And If so, which strategy would help me close a deal in the least amount of time?

 Hmmm, I feel a bit like most of the answers here are 1 dimensional. All totally fantastic replies but I guess I think a bit more ... grand?

Only money seems to be the deciding factor whether you drive for dollars or not.

You said you are a college student and  it seems the natural assumption that was taken was, that you have no money. But my little sillybuns, do you have time?

When I was in college I had NO time, No money, No girlfriends.. wait whaaaa??

So you asked 2 very different questions. Fastest way to get a deal, and if driving for dollars is a good idea. These 2 do not combine well.

Fastest way to get  deal in your position? Direct Mail Marketing. Hands down... or  PPC.

Driving for dollars although less expensive (and more time consuming) you may not EVER get a deal. (Sure same with DMM and PPC, but  the chances are far less to make a deal with driving for dollars.)

DFD (driving for dollars) keeps you limited to a very very localized section (or sections) and the numbers just are not worth it. I would absolutely not bother with DFD.

You will get much better results getting a waiter job working the same hours you would be driving, and with the money you make send out a humble DDM campaign up, and focus on getting a highest performing list.

This will save you time, effort and money.

Please forget bandit signs.

Not only illegal, they are a waste of time. Great if you want to do maybe a deal every 5 months, but if you want to be like your idol, (me), you want to flip 3, 4, 5 houses at a time and become successful ASAP.

Here is the mistake people make, beginners and seasoned alike.

Everyone focuses on "How am I going to get a lead right now!" and no attention given to how am I going to get a lead next week, next month. How can the work I am doing now, the work to " get me a lead right now", also automatically going to get me monthly deals, weekly deals daily deals without having to do any extra work? So, how is DFD going to give you an inflow of leads coming in automatically without having to do any extra work? It can't. So don't bother!

How many think this way? Honestly, not many. Without this kind of mentality, cleverness and insightfulness, you are simply not going to make it.

Yes focus on making a deal ASAP.... but not for those reasons. You need to systemize your work. Not just work to work, to get a lead.

"Is there any cost effective way to market for good leads?"

Yes honeybunz, YES there is.

There is a BEST way to market for leads in a cost effective way.

Get a website, rank it first on google and watch the leads stream in for free while you .... (omg fine fine..)  brush your teeth. I was going to say something else, but @Mindy Jensen would stop being my friend! 

So if your first thought reply to these methods start with  "but...".. forget it!

But it is hard to rank

But I am a beginner

But I know nothing about SEO

But I am just in college...

FORGET IT!! Give up right now. You simply are not going to make it. You will try (inreality, you convince yourself you tried), do a halfbutt,... can I say halfassed ?  job and fail miserably and blame it on everything other than oneself.

HOWEVER...

if this reply makes you to have an evil grin as you evilly rub your dirty hands together and can't help but cackle evilly... we will have a new potential successful investor in the midst.

I did Direct mail marketing AFTER I quit my job, with virtually no money... made 14K a month (I think) after my first DMM campaign launch.

And if I can do it... nope, that doesnt mean you can too haaahahaha

But you can definitely be convinced it is possible!

:)

so... what is your plan!  Are you not confident you will make it big? You don't ALREADY know in your bones you will be filthy (rich) and successful?

Yes? Then why do DFD? This is just for the 90% of the people that will "try".

If you know you will do well, skip this and work on establishing an infrastructure for your business that WILL get you deals continuously. Think big, to make it big.

Do or do not. There is no try!

  • Jerryll Noorden
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