What is Driving for Dollars?
Driving for dollars is a more direct approach to finding wholesale properties than simply sending out emails to inboxes or letters in the mail. It's the term used when you drive around a neighborhood that you think could house future wholesale deals, then document distressed properties to create unique lead lists. Oftentimes, it can be more profitable than other techniques.
DealMachine's Driving for Dollars Features
Dedicating time to drive target zip codes, only to find out you've already been there, can lead to wasted time, frustration, and demotivation. DealMachine's driving for dollars app helps organize your entire team by displaying driving routes in real-time on everyone's map so you can keep targeting fresh areas and get more deals.
Real-Time Driving for Dollars Routes
Never drive the same street twice again. Your entire team can see where everyone's already driven.
Drive Session Summaries
Don't overpay your DealFinders™. Our driving for dollars app lets you see exactly where, when, and how many properties each person added so you can pay them accordingly.
Visualize Route Freshness
Not sure when you should re-drive a hot zip code? DealMachine's driving for dollars app features a GREEN, YELLOW, RED system to see when an area needs to be revisited.
Export Data Effortlessly
Calculate a tax deduction and analyze your driving for dollars data in a spreadsheet with our easy export feature.
Why Your Team Needs to Drive for Dollars
Improve Deal Rates
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.
Driving for Dollars is Cost Efficient
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 (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.