Driving for dollars is a more direct approach to finding wholesale properties than simply sending out emails to inboxes or letters in the mail. In many cases, driving for dollars, the idea of taking a car for a spin around an area you’d think could house future wholesale deals, can be more profitable than these other techniques.
The Numbers Don’t Lie
For roughly every thousand bulk emails or letters sent, you’re lucky if you can get one deal. Driving for dollars, on the other hand, can garner a sale for, more or less, every 200 homes you canvass.
Between spending money on postage and buying a mailing list, doing mailing campaigns can cost a pretty penny. Generally speaking, they’re usually three-times more expensive to run than driving for dollar runs. If you’re new to wholesaling real estate, it might be wise to start by driving for dollars and pocket the savings for use elsewhere in your newfound company.
The ROI is Better
The ROI (Return of Investment) of driving for dollars far exceeds that which is found in mailing campaigns. In most cases, driving for dollars yields four-times the ROI than what's observed in mail campaigns. That, and driving for dollars also can help save you time, in the long run.
Want to learn more about how driving for dollars is good for your wholesale real estate venture? Watch the video below and don’t forget to visit our website to start your 14-day free trial, afterwards.