REI’s business is booming, with sales up 20% in 2018. REI has a long list of benefits for members that the company is well known for and offers free shipping to boot. Now let’s take a look at some other expenses associated with REIs membership: environmental impact, member cost and taxes etc…
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One of the most challenging components of real estate investment is finding homes to invest in, especially if you are looking for buildings that need to be rehabbed.
While MLS listings and foreclosures are fantastic places to look for below-market fix-and-flip houses, locating properties with a high return on investment (ROI) sometimes necessitates getting your hands dirty.
This is referred to as “driving for dollars” among real estate investors, and it comprises touring certain subdivisions in search of distressed homes.
This method may be used by real estate investors, wholesalers, and bird dogs. It’s especially useful in a hot market like today’s, when advertised houses sell in hours and get hundreds of offers.
Driving for dollars allows you to find distressed homes that aren’t on the market, giving you the opportunity to make the first (and only!) offer.
The challenge with driving for cash is that you must first avoid driving in the same geographic region many times, wasting time and money, and then collect and organize the numerous addresses of the properties you find.
After that, you’ll need to locate the property owners’ contact information and undertake some prospecting using different marketing strategies, such as direct mail.
This might be a time-consuming process, but DealMachine can assist.
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