If you're a real estate investor, wholesaler, or just someone who wants to make some extra cash, driving for dollars can be an easy way to make money. In this blog post, we'll look at the best driving for dollars apps so you can decide which one is right for you and start making money immediately.
Whether you're looking for a way to monetize your daily commute or just make some extra cash on weekends, these apps can put some money in your pocket in no time. So read on to find out which app is right for you!
"Driving for dollars" is a term used by real estate investors to describe driving around neighborhoods in search of off-market properties. The goal is to find properties that competitors may have missed and collect critical data points such as the estimated value, owner information, and phone numbers.
Driving for dollars can be done on your own or with the help of a team of people. Some investors like to do it during their daily routine, like driving to work, the gym, or walking. Other investors pay someone to drive for dollars every day or a few times per week.
The process involves looking for vacant or distressed properties and writing down the property details for each address. This information can then be used to find cash buyers interested in investing in the property.
To make this process more efficient, some investors use technology tools that provide a property details screen, user interface, and route tracking. These tools also often have a "dollars feature" that helps plan the driving route and get the most out of the drive.
Once the property information is collected, skip tracing can be used to find the owner's phone numbers and other key data. This information, along with the collected leads, can then be sorted using search filters to find any viable deal.
Rather than spending hours searching for properties online, an investor can simply drive around the neighborhood and quickly identify properties worth investing in. This means eliminating hours of searching tirelessly online.
This can also save an investor from the hassle of dealing with real estate agents who might not have the investor's best interests in mind.
Driving for dollars can give an investor an edge over competitors relying solely on online resources to find houses to invest in. Properties that need repair or renovation are often not listed on the market and can only be found by driving for dollars.
Using this method, an investor can find houses that are not readily available to the public, contact homeowners right away and have a better chance of acquiring the property before anyone else does.
Another benefit of using driving for dollars is that it allows an investor to get a hands-on inspection of the property.
By going by the property, an investor can see the condition of the property, and the neighborhood, and get a better idea of what needs to be done to the property to make it more desirable to potential buyers. This can't be done simply by looking at pictures of the property online.
Finally, using driving for dollars can help an investor build relationships with homeowners in the community. By navigating around the neighborhood, an investor can meet homeowners, talk to them about their properties, and potentially make connections that can lead to future real estate deals.
Building relationships with homeowners can also lead to more information about the community and help an investor make better investment decisions.
Driving for dollars and direct mailing are two powerful strategies for investors to tap into the goldmine of potential business opportunities. While both have their benefits and drawbacks, they each offer unique advantages that can help investors uncover new leads and increase profits.
Direct mail campaigns are a popular method for investors to reach out to property owners in a specific market. However, the cost and the risk of oversaturation can be significant challenges in this approach.
On the other hand, driving for dollars is a more time-intensive method that can help investors identify motivated sellers and uncover new leads with little competition.
The key to success is to look for visible "red flags," such as distressed or vacant properties, that can indicate a higher likelihood of motivation to sell.
While the two each have pros and cons, both offer the potential to generate leads with equity and motivation. By using these strategies in combination, investors can increase their chances of success and achieve higher profits in their real estate investment business.
Once you've found a property by driving neighborhoods, the next step is to use direct mail to reach out to the owner. Direct mail marketing is a form of advertising that involves sending promotional materials, such as letters, postcards, or flyers, directly to people's homes.
Here are the steps you should follow to use direct mail with driving for dollars:
To get started with direct mail, you'll need to create a direct mail piece or marketing letters that you can send to the homeowners you've found through driving for dollars. This can be a letter, postcard, or flyer introducing yourself and explaining why you're interested in the property.
Next, you'll need to gather the contact information of the homeowners. You can use public documents or registers to find their names and individual address.
Once you have the direct mail piece and the property owner's contact information, you can send it out. Make sure to personalize each piece and include a call-to-action, such as a phone number or email address, to encourage the property owner to contact you.
Finally, make sure to follow up with the property owners who received your direct mail piece. You can do this by sending a second direct mail piece or by calling them. The key is to be persistent and keep the property owner engaged.
DealMachine is a top pick for the best driving for dollars app in the real estate investing. It is an all-in-one app that provides advanced, real-time tools for investors, flippers, and wholesalers.
The app is available on the Google Play and Apple app store and offers a free trial for users to try it out. The unlimited property lookups feature lets you quickly find distressed properties on the road and access the owner's data. The app is intuitive, making it easy to use even while driving, and its retargeted marketing feature automatically resends mail to property owners who don't respond to you.
One of the critical features of DealMachine is its customizable postcards. You can choose from various design templates, add your images, customize the messaging, and even opt for hand-written text.
The in-app cold calls feature allows you to skip tracing the owner's phone number, and the app will tell you whether the number is active or dead. DealMachine also offers batch skip tracing, which allows you to upload a spreadsheet of property addresses and retrieve contact information all at once. The app can skip trace 500 leads per minute, making it a powerful tool in your real estate investing toolkit.
DealMachine also lets you keep track of your leads by exporting files as an Excel spreadsheet that you can upload to a CRM and save to your account.
Another great feature of DealMachine is its overhead map view, which lets you see specific properties in real time as you drive. The app provides the last sale price, the recent previous sale, and other vital data, making it an essential tool for anyone in the real estate investing world.
BatchDriven is a driving for dollars app that provides a unique approach to the direct mail market. It's designed for individual and team use and offers functionalities similar to other apps like DealMachine and PopStream. The driving for dollars app allows you to send text messages to potential leads, a feature not found in additional driving for dollars apps.
BatchDriven uses the "Find Deals" option to access the map. You can start tracking your driving for dollars campaign using Google Maps and quickly identify potential deals by pinning them on the map.
The app provides you with the most efficient driving route to visit each property address. The app also provides property data points from major data providers, including public records.
One of the best features of BatchDriven is its SMS text marketing capability. As a driving for dollars app, it is the only app that allows you to send text messages to property owners. This makes it an excellent tool for building a direct mail campaign.
The app also allows you to store the property data points you gather on your drive and send marketing letters using an easily mail merge feature.
The virtual driving feature also saves you time and effort, as you can track all the driving you would have done in a virtual environment. Whether you're an experienced investor or just starting out, this dollars app makes it easy to gather new data points and take your direct mail campaigns to the next level.
PropStream is a heavy-duty real estate software that provides extensive data on listed and unlisted properties. This dollars app is ideal for real estate investors who are looking to build a large number of targeted lists.
With over 120 filters, such as high-equity, probates, buyers, foreclosures, and distressed properties, PropStream makes it easy for investors to find lucrative deals.
PropStream lets users drive in two different ways. Users can set filters to show properties within a 50-mile radius, such as bankruptcies, vacant properties, and foreclosures. They can then zoom in on these properties and check out the information and even skip trace the owners from their phone.
On the other hand, PropStream also has a "Just Drive" option, which simply tracks the user's route and gives them details on houses they see in real-time.
One of the critical advantages of PropStream is its superior list-building capabilities. This major data provider allows investors to pull multiple lists with over 120 filters, making it easier to find suitable properties to invest in.
PropStream also helps investors research properties with in-depth lists of property details, tax information, and transaction history, along with recent sales data and real-time comparative market analyses for modeling prospective deals.
Another great feature of PropStream is its ability to find information on MLS properties and unlisted properties. This means that investors can access data on publicly listed properties, which can be a valuable resource in determining whether a property is viable.
PropStream also has a built-in rehab calculator that gives estimates of repairs, allowing investors to roughly calculate a property's after-repair value (ARV).
Propelio is a comprehensive driving for dollars app that offers route tracking, list sharing, skip tracing, and the option to send postcards.
It is designed for real estate investors looking for a cost-effective way to find lucrative deals and determine the homeowners of distressed properties.
Propelio offers a user-friendly interface that makes it easy to find and save property addresses. It also comes with a "Spy Drive" feature that automatically locates distressed and vacant properties on your map.
One of the standout features of Propelio is the ability to add unlimited drivers to your plan, which makes it an excellent option for team usage.
You can sync lists without additional costs, which means that multiple team members can work together to identify the best investment opportunities. This eliminates the need for manual coordination and saves hours of time and tracing costs.
Propelio also allows you to send postcards directly through the app for just $.40 per card or conduct skip traces for just $.15. This means that you can quickly determine the contact information of homeowners, even if the property is not listed.
With Propelio, you can also view MLS comps in select markets, which gives you an idea of how much you can expect to spend and earn from a potential investment.
Homesnap is a free app that offers a user-friendly interface to help you find property information on the go. It is not a traditional driving for dollars app, as it doesn't have route tracking or driving routes as a feature.
Instead, it aggregates publicly available property data, such as estimated property value, foreclosure status (if applicable), last sales date and price, estimated taxes, and the year it was built.
This app is excellent for the casual investor or flipper looking for a free tool for prospecting deals. With Homesnap, you can browse photos to spot off-market, distressed, and recently sold homes, allowing you to find potentially great deals from your phone.
However, to get the full benefit of the driving for dollars app, you'll have to use Homesnap in conjunction with another route-tracking app (or paper map and highlighter).
Although it doesn't offer the core features of a dedicated driving for dollars app, such as route tracking or the ability to determine homeowners, it's still a valuable tool when virtual driving for dollars or searching for possible deals.
It's an excellent option for those who want real-time property information without paying a monthly fee.
Driving for Dollars can be incredibly effective for finding new deals and making money in real estate. Whether a beginner or an experienced investor, numerous apps are available to help you find deals while driving.
From neighborhood scouting to neighborhood data, these apps can make finding deals that fit your specific criteria easier. With the right app, you can increase your chances of finding a great deal and making the most of your real estate investment.
Are you a real estate investor looking for high-quality leads? Trust Property Leads! Leads are fresh, accurate, and up-to-date, so you can rest assured that you are getting the best quality information to help you find more deals.
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