Finding deals

Driving for dollars, explained.

Driving for dollars means driving through neighborhoods to spot run-down or empty houses, then finding and calling the owners. Here is how to do it well.

What driving for dollars is

Driving for dollars is how many wholesalers find off-market deals. You drive (or walk) through a neighborhood and look for houses that seem neglected. A neglected house often means an owner with a problem, and an owner with a problem may want to sell.

The big plus: these houses may not be on any list you can buy. You found them yourself.

What to look for

  • Tall grass, overgrown bushes or a yard full of junk.
  • Boarded windows, a tarp on the roof or peeling paint.
  • Piled-up mail, flyers or notices on the door.
  • No lights, no car, and no sign of anyone living there.
  • A code violation or utility shut-off notice posted on the house.

One sign is a maybe. Two or three together is a house worth logging.

Plan the route

Pick neighborhoods with older houses, lots of rentals, or prices your cash buyers like. Drive the same area more than once. A house that looked fine in spring can look very different by fall.

Log every house

For each house, save:

  • The full address.
  • A photo.
  • What you saw, in a few words.
  • The date.

A spreadsheet works. An app works too. What matters is that nothing you log gets lost before you trace it.

Virtual driving for dollars

You can also do this from your desk with online street-level photos. Move down the street on screen and log houses the same way. It saves gas and lets you cover areas far away. The catch: the photos may be old, so check the house is still distressed before you make an offer.

From address to owner to phone

Look up each address on the county assessor or property appraiser site. Note the owner's name and the tax mailing address. If the mailing address is somewhere else, the owner does not live there, which is common with neglected houses. The absentee owners guide covers this.

Then skip trace the owner. Tracepoint gives a new account 5,000 lookups free, one time, no card. The owner phone number guide walks through the whole process.

Is driving for dollars worth it?

It takes time and gas. It is also one of the few ways to find houses no one else has on a list. It works best as one source next to your public record lists, not as your only one.

It only pays off if you trace every house you log and keep following up. When an owner is ready, run the numbers with the wholesale deal calculator. For more lead sources, read how to find motivated sellers.

FAQ.

What does driving for dollars mean?

It means driving through neighborhoods looking for run-down or empty houses, writing down the addresses, and then finding and contacting the owners to see if they want to sell.

Is driving for dollars worth it?

It costs time and gas, but it finds houses that are not on any bought list. It works best next to your other lists, not instead of them, and only pays off if you trace and follow up on every house you log.

What is virtual driving for dollars?

Doing the same thing from your desk with online street-level photos. You move down the street on screen and log houses that look distressed. It is cheaper, but the photos can be old, so confirm before you make an offer.

Do I need an app for driving for dollars?

No. A phone camera and a spreadsheet work. An app just makes it easier to save the address, photo and notes in one place while you drive.

How do I get the owner's phone number?

Look up the address on the county site for the owner's name and mailing address, then skip trace that person. A new Tracepoint account gets 5,000 lookups one time, no card.