Ask An Expert - Driving For Dollars - Deal Machine

REIClub | Real Estate Investing Podcast

Today's episode is about driving for dollars. Our expert is Matt Kamp, VP of Partnerships with Deal Machine, which is a real estate investing software and technology platform created to allow real estate investors to find property leads, contact owners, and grow and scale their investing business.

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Matt shares his knowledge answering questions submitted by the REIClub Unemployables:

For new investors, where do you recommend I get started? What are the most common mistakes you see rookie investors make?

How do you find properties?

How do you identify the best neighborhoods to target? How do I locate good areas (cities, zip codes, etc.) to virtually driving for dollars? Is there a statistical way to look at the current numbers in a certain market to determine if it is wholesale friendly?

What telltale signs do you look for when driving for dollars?

Do you stop and talk to the neighbors? If so, what do you ask them?

How do I find the owners of these properties ?

How many hours of driving does it take to get a deal?

Do you use a special app / software to do your "driving for dollars" to find, research, and contact sellers? Does this program work in any state or is it a certain amount of properties or all properties?

How do I make my own driving team to find me leads? Would it be appropriate to have a virtual assistant cold call and driving for dollars?

When I drive for dollars, I prefer to contact the owner while in the neighborhood. Is this overwhelming? What is the average cost to land a deal when driving by yourself and the average cost to get a deal when using a team to drive for deals?

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