Driving for Dollars Strategy

[Keith Goodwine]

Hey all!  I am looking for my first wholesale deal.  I have taken to driving for dollars lately.  I wanted to share my tactics, and get some feedback.

I normally get about 100-150 properties in 1-2 hour drive-through that look like they meet qualifications.

When I do find a property that looks like it meets qualifications, I follow up with a letter or postcard mailer.  The letter focuses on the message: "Looking to sell but your home needs expensive repairs?  You can sell your home anyways!  I buy homes in any condition, and close quickly.  Call me now so we can get started!"

I am looking for:  

• C- / C neighborhoods that are up-and coming
• Under median price range
• Signs that other investors are there (bandit signs, one rebuild on the block) but aren't completely invested out
• Houses that have lots of equity (last sold more than 10 years ago)
• Abandoned houses
• Houses that look in need of serious repair
  • Overgrowth
  • Sagging roofs and gutters
  • Window units instead of HVAC
  • Rusting / collapsing chainlink fences
  • Aging cars parked in the yard
  • Faded numbers on mailbox
  • Chipped paint and non-traditional paint colors
  • Signs that seem to show anti-social behavior, such as "Beware of Dog," "Private Property," "No Trespassing," "CCTV Monitoring" (seems to correlate, don't know exactly why)

Am I going about this right?  Anything I'm missing or not seeing?  Thanks for any help you can provide!

[DeMarrius Payne]

Keith Goodwine John Anderson this is the first time seeing this. I did a little research and it seems like it has to do with bank owned houses. Can you elaborate more on transactional funding with wholesaling?