Driving for Dollars. My Last Two Days
The last two days have been fun. I picked a couple of neighborhoods that I was very familiar with and started driving each street. Anytime I found a house that looked abandoned, I would stop and jot down the address. After each day, I would sit down in from of my computer and check the county appraisal district website to see if the owner lived at the address. Day 1 was in the neighborhood I grew up and out of the 16 house I wrote down, 6 of them were absentee owner. Day 2 (today) I drove around a neighborhood where I spent a lot of time in in my youth and of the 12 houses I wrote down, 11 of them were absentee owners. I either got really good, really fast, or I got lucky today
I wrote up 17 letters total. One to each of the house owners. Nothing special, just a letter saying I was interested in buying their house if they were interested in selling. Then addressed the envelopes by hand and sealed them to be ready for stamps tomorrow and then dropped in the mail.
All the contact and house information is on my spreadsheet and I'll track when I sent out letters, and any response I might get. I'll send letters or postcards once a month for at least the next 6 months.
Completed Task From The Last Two Days:
Listened to Podcasts -
152: Building Wealth and Passive Income with Rental Properties with Ben Leybovich, Brian Burke, and Serge Shukha
149: Early Retirement, Real Estate Bubbles, and Dangerous Scams with Radio/TV Star Clark Howard!
148: From 0 to 51 Units Despite Living in a Crazy Expensive Location with Nazz Wang
147: Turning “Weird” Properties Into Cash-Flowing Monsters with Johnny Youssef
Found 17 absentee owner properties and addressed letters to them.
Ordered 5000 postcards from VistaPrint.
Ordered 1000 business cards from VistaPrint.
Ordered 2000 absentee owner list from yellowletters.com.
Law of Agency - Units 9-11 complete
Comments (8)
Good work! This is what my husband and myself started doing 10 years ago and it brought us very good deals. Consistency is key! I created a 4 touch plan for a 45 day cycle. Let us know how they letters worked out for you and if you are still driving for dollars!
Jessica Santiago jones, almost 9 years ago
Simon, did you have any response on these letters?
Michael Olivo, almost 9 years ago
I have gotten a response. The first call was a deal I closed. If you keep reading my blog, I talk about it. I'm working on the rehab now.
Simon Shih, almost 9 years ago
Great work, Simon! I love reading about investors who are in the trenches, grinding it out, hunting down deals like a detective. It's so good to see. Keep pushing, Simon! All the best in your investing.
Kent Clothier, almost 9 years ago
No trash can...Simple but effective!
Aaron M Cloe, almost 9 years ago
When I lived in Fayetteville, NC, I would pick neighborhoods I wanted to invest in and drive them on trash days. Not having a trash can by the road is one more clue as to whether a house is vacant or not.
Shanequa J., almost 9 years ago
awesome idea!!!!
Rob Grove, almost 9 years ago
@Shanequa J. That's an excellent strategy.
@Simon Shih Nice work, and it is important to build a system. Good to see you going there.
Dmitriy Fomichenko, almost 9 years ago