Driving for Dollars Criteria

[Tom Hacku]

Hi everyone, I've been driving around the Richmond area trying to learn the in's and out's of each neighborhood since I'm new to the area. As I do so, I figure it's a good way to look for potential properties in an effort to improve deal flow. So I'm just wondering whether or not people have had success driving for dollars in Richmond and if so, what are your criteria when driving around looking for properties? Is it more of a stumble upon something that sticks out method, or do people use apps like Deal Machine to find things?

That being said, are there any investors or wholesalers interested in receiving information that I come across if it fits their criteria? I'm planning on purchasing my first single family rental for a BRRRR Nov/Dec since we're closing on our personal residence end of October, so I'm looking to learn, network, and help out wherever I can in the meantime. Thanks!

[Matt Lewis]

@Tom Hacku - I'm in Seattle so I can't offer anything VA specific but it seems like the driving for dollars process is very similar in every city.

Here’s what we do:

-Go to a neighborhood you want to invest in.

-Look for bad houses on good blocks.

-Check Zillow right there on your phone. See if it’s has sold in the last 20 years. You want houses where the owner has a lot of equity so there is room in the deal.

-“Like” the property on Zillow if it qualifies.

-At home go to the local municipal website and find the names of the taxpayers on those addresses

-Use White Pages or something to get their phone numbers

-Reach out see if you can make something work

Hopefully that helps! Good luck!