Driving for dollars is an activity I actually enjoy, although I have to admit, I don’t do it as often I as should. The reason is that those particular neighborhoods I like to target are not close to where I live. But whenever I happen to be near those areas, I always try to spend some time looking for distressed vacant houses.
So what exactly is driving for dollars?
Driving for dollars is simply jumping into your car on a nice sunny day for the sole purpose of locating distressed vacant houses. I especially like to do this when the signs that a house is vacant are more obvious such as during grass cutting season. It’s pretty easy to pick out a house with tall grass and weeks and a neglected landscape. Other telltale signs are phone books laying on the front porches long after they have been delivered, or a build up of leaves or trash near the home. If you happen to be out and about on garbage day, watch for homes where the garbage hasn’t been put out. A house that has been neglected will stand out from the other homes in the neighborhood.
If you happen to run across the local mail carrier, introduce yourself and give them a couple of business cards. Let him know that you pay for referrals if you purchase a property from a lead he gives you. These folks always know where the vacant properties are in the neighborhood.