The Deal Machine is designed for the busy person who wants to find products, compare prices and not have to do all of that work themselves. Similar platforms like Scoutify exist but they’re generally more pricey than what’s available through The Deal Machine.
Deal Machine has been around for quite some time, and the company is finally coming out with a review of their best option for REI’s. This should be an interesting read.
One of the most challenging components of real estate investment is finding homes to invest in, especially if you’re 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, even 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 you with it.
The “default deals review” is a website that reviews the best option for REI’s. It has a detailed comparison of the different options, and provides information on what to consider when buying one.
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