Calling Rental Signs, First Attempt. Worked

[Kenneth Shultz]

So, just wanted to share this 'deal finding' story: 

I heard on a podcast recently that one of the guys finds many of his deals by calling numbers on the 'for rent' signs when he passes them. Landlords are his sellers. So, I tried this when I got home yesterday. The house across the street from my home was for rent. 

I called the number and said, "Hi, my name is Kenny. I am an investor in the area, and I am was interested in buying this property. Would that be something you would be interested in?" 

The answer? "Yes." 

The landlord said, "I've rented this for years, and I'm close to retirement. I've considered selling it many times." So we set up to meet this Saturday. 

It works. This may or may not end up being a great deal - it depends on his expectations, and my negotiations skills. But it definitely works. 

Next week, I'm going to try "driving for dollars" in the Petersburg area. I'm going to get a list of strong off-market properties and generate some leads. It's fun - I'm hoping this kind of work will help generate some wholesaling interest, or perhaps even a little bit of development partnerships. 

Who knows - all I can say is that I've never been so happy to have a 45 minute commute to work. It's a perfect reason for me to digest one BiggerPockets podcast every day! haha

Has anyone else had success with the rental-seller / driving for dollars strategy?

-Kenny