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Im a real estate wholesale newbie.I heard a great way to get started is driving for dollars so i been doing this for the last month or so and i think ive driven almost the whole city even though i may have missed a few spots.I looked up the owners and sent them mail.I think ive gotten maybe two calls so far and some letters returned because it was a wrong address or something.My question how effective is driving for dollars and has anyone gotten their first deal this way?

I am getting ready to send out 100 yellow letters.Once I send out 100 yellow letters - fingers crossed I get some phone calls.My rough plan is to set up an appointment. 

You need to hire a good license tax professional in your area not one of those franchise firms, someone with some letters behind their name.  

I have never done a deal of this size, but I would want at least a signed Letter of Intent, or something that would give me the reasonable expectation that this deal will move to the next stage before I spent any money.Will may be coming from a business position with experience and integrity, and this woman may have all the best intentions.

Then, with the offer, include a cover letter that goes into more detail about how you arrived at your offer.

I haven't refreshed my original yellow letter list, but when I do, will probably do that process manually.

I just did a non-owner occupied line of credit for 70% LTV with interest only payments for two years, and a balloon at the end. 

Also...in commercial land, we are not set up to send out proof of fund letters like on the consumer side.  

So, I recently sent my first yellow letters campaign to absentee owners and I'm only getting calls from investor and landlords who are not motivated to sell but the want to play the game only to see how much I offer and then say they're investors and they won't sale for that price, bla bla bla.