Sean,
Myself and my partner just completed this step. For us we drove around for 30 - 45 mins, in a area we were interested in. (Which was the wrong area for us.) during that time we just drove down every street. If we seen a for sale my owner or rental sign. We called the number AFTER we had done a very basic walk-around peek in the window walk.
We asked what was the price they were asking?
We asked how many other properties in the area they had?
We asked how many of them were vacant?
Write it all down. (We have found that if we are studying or making phone calls, its better to write it down.)
Those questions allowed us to pry a little further. We asked Would you be interested in letting us fill your properties with renters or even sale some off since they had so many not producing?
During that drive we made 7 phone calls (+/-2 as it was two weeks ago.) From those call's we got 1 person to say yes. A single investor with a small portfolio (approx 27 properties, with some of them being a mobile home park.) Thanks to our marketing plan, we have completed 3 deals with this investor in 2 weeks.
A rent to own - we kept a majority of the down payment
Just moved a renter into a property he owned with a deposit (this was our first deal actually)
And one more rent to own - we kept %40 of the down payment.
Just like you we had planed to move slow (sandbag as these other folks are saying) for us that seemed the best may to make sure we stayed out of the red. But we were flexible enough to go with the flow. honestly we were using the drive by time as a excuse to get outta our house's. On one of those day's were you are bored but your wife says its to cold to go out.
I hope this helped you.
