What's the deal with Driving for Dollars?

Driving for dollars (D4D) is a time-consuming and expensive strategy used in real estate wholesaling - although, D4D is the best way to build a personalized and exclusive lead list, and these leads often turn into the most profitable and lucrative deals for wholesalers. 

In D4D, wholesalers physically (or virtually) explore neighborhoods, meticulously searching each property for distress, which would allow the wholesaler to potentially purchase the property at a discounted price. These properties often exhibit signs of neglect, such as overgrown lawns, boarded-up windows, damaged roofs, etc. 

Wholesalers invest significant time and effort in finding these distressed properties and documenting the distressed properties’ addresses and relevant information. Once a list of distressed properties is compiled, the wholesalers embark on the task of contacting property owners to explore purchasing opportunities. Negotiating favorable deals is the key objective, as investors aim to assign or wholesale the contract for a profit.

Although D4D can yield off-market opportunities that are not easily discovered through other means, it comes with inherent challenges. The strategy requires considerable time and patience to identify viable investment prospects. Additionally, there are associated costly expenses, such as fuel and wear-and-tear on vehicles.

An Automated way to D4D

Prospector.AI was created to combat these challenges for wholesalers. With Propspector.AI, all a wholesaler needs to do is share the zip code they are targeting, and the number of homes they want Propspector.AI to view for D4D purposes. Once submitted, it takes minutes for Propspector.AI to view thousands of properties, and score each property with a “distress score.” 

D4D no longer has to be time-consuming and expensive. Try Propspector.AI and uncover hidden distressed property gems in your target market in minutes.