Driving for dollars... AND THEN?!

[Kristen Reyes]

Hi BP!

I am really working on getting my first deal. The MLS is not working, and I am going to start driving for dollars.

I have already targeted a neighborhood with the ARV that I want, and I am ready to go out and look for distressed properties. However- if I get a call back what do I do then?!

Everything I read is telling me how to drive for dollars, but my question is how to close on the deal? What documents do I need. Is it just a purchase agreement? 

I guess I need help on the technical side. YAY we agreed on a price now how do I finalize this deal? Any help would be awesome.

Thanks BP!

[Jonathan Greene]

You are way ahead of yourself. What's even your system for driving for dollars? Once you identify a property that looks vacant, what is your next step? Are you using Deal Machine to postcard mail or are you doing a personal letter? How are you going about doing the back research on the property without a RE license to get the good data? Are you using skip-tracing or something similar to upgrade the chances you can call the owner? The problem with the "advice" you are getting or listening to is that it makes it sound easy - just drive for dollars, send one postcard, get a call back, make offer, write contract, agree, buy, flip, sell. But no, it's not at all. You may go 1 for 100 on driving for dollars. You may go 1 for 10 in even having the right information.