Driving for Dollars

[Brandon O.]

Great day all! My brother and I are new RE investors and are very excited and anxious on this new endevour. We decided the best way to build capital and get skin in the game is by by going the wholesaling route. We've been driving for dollars looking for homes in the area that are in distress that might be on it's way to a forclosue. My question to my BP family is what are some things you look for residential homes that are possibly in distress?  Also we're thinking about getting a list absentee owners and sending them letters, is this a good route to go as well? 

thanks for you time and responses! 

-See You At The Top

[Stephen Chatto]

When driving for dollars I tend to look for signs the house is either in serious disrepair OR that it is vacant.  When you come across a house like that Take a Picture, Get the Address, Knock on some doors and see if you can the owners information and or cell phone.   If the house is an eyesore and you want to buy it many neighbors will tell you how to contact the owner if they know how.  If that works great...   if not.. Leave a hand written note inside a USPS Priority mail envelope in the door, then move onto the home office.   Get the owner name and mailing address from public record.   Then Google them.   Look for them on white pages.   Type their name into Google with the local area codes and many times you can find a match!  If you get a hit call them.   If not...  Send them a yellow letter, or a post card with a picture of their house, or whatever mail piece you like.  If you have the resources, spend some money and skip trace them to get their number!   Call them, call their relatives, and do what you can to find them. 

That's how you make it work...  It's a lot of effort... but many are too lazy to do it....