If you’re curious how real estate investing can help you retire early, you have one thought on your mind: finding real estate at below market value.
One method for finding great real estate deals below market value is called Driving for Dollars – physically driving in your car looking for houses that appear vacant or distressed and offering to buy the property from the owner.
I created an app with driving for dollars real estate tips that makes the process more effective. EDIT: My best friend Dave and co-founder came on board in July 2017 and totally re-designed and professionalized the app.
Here’s my story:
Picturing a Better Life
A little over a year ago I read Rich Dad Poor Dad and I started actively seeking out ways to build my dream life on my own terms through passive income from finding, fixing, and renting Real Estate.
My plan of attack was to drive promising neighborhoods, find abandoned or foreclosed houses, and reach out to their owners with a cash offer to purchase the house.
I did this multiple times where I’d spend an hour driving neighborhoods and take 20-25 pictures of houses each trip.
Then I would spend 10+ hours cross-checking homes with Google Maps and County property records just to find the current owners names. Next I was printing, stuffing envelopes, and running to the post office. My goal was to send letters of interest in purchasing the owner’s house, personalized with a high quality picture of the house to grab the owner’s attention.