During these uncertain times, no one really knows what will happen in the next few days, weeks, or even months. Cities are under lock-down, people are losing their jobs, and many are stuck at home, so what can new investors do? One of the easiest things to do would be "Driving for Dollars," it's the process of driving in your targeted neighborhood and looking for abandoned or distressed properties.
It is very simple, all you will need is your car, gas, and your phone. When you see a property that looks rundown, simply stop in front of the house and use google maps to obtain the address. Save the address to your phone notes and take a picture of the property, very simple.
Here are a list of "Red Flags" to look for:
-Tall Grass -Vandalism
-Boarded up or broken windows -Locks everywhere on the house
-Mailboxes filled -No curtains or blinds
-Code enforcement taped to the door -Looks empty on the inside
-Piled up newspapers -Paint of the house is peeling off
-Bad roofs/tarp -The gutters are falling off
-Lack of personal items (no porch furniture, garden decorations, etc)
-No cars or tire tracks -House looks outdated
Those are a few examples on what to look for when driving for dollars.
If there are other signs you look for, I would love to hear them!
I hope you enjoyed this and that it helped!
