Driving for Dollars Ding Dongs (CFFL 0063)
Jack Butala: Driving for Dollars Ding Dongs. Every single month we give away a property for free. It's super simple to qualify. Two simple steps. Leave us your feedback for this podcast on iTunes and number two, get the free ebook at landacademy.com, you don't even have to read it. Thanks for listening.
Jack Butala: Jack Butala here from Land Academy. Welcome to our Cash Flow From Land Show. In this episode, Jill and I talk about driving for dollars and specifically maybe why it's the single biggest waste of time when starting out any type of real estate or real estate investing. Jill, I know this topic really just chafes your butt.
Jill DeWit: There's a few things. [It can 00:00:20] go on.
Jack Butala: What is driving for dollars, and why does it get you so riled up? Personally, I love this because you don't get mad very often, maybe ever.
Jill DeWit: Thank you.
Jack Butala: For some reason, it pushes you over.
Jill DeWit: It's the dumbest thing. When I first heard about this whole driving for dollars, years ago, I even thought there's got to be a better way. That doesn't make any sense. I thought it was a thing of the past.
Jack Butala: So did I.
Jill DeWit: I really thought ... Back then, you didn't have the internet. We didn't have ... There was no other way to do it, so you really canvassed the neighborhood, and you, gosh, really got to know this area because you want to be the pro in that, whatever. Then I realized people are still doing this.
Jack Butala: I know and they're talking about it on the internet even as early as yesterday.
Jill DeWit: Right. I took X amount of cards with me or flyers with me. Gosh, I got to shake a few hands and I'm like, "What a waste of time." I'm not answering the door, by the way. How many people really actually answer the door anymore?
Jack Butala: Let's describe what it is.
Jill DeWit: Okay. You want me to describe it?
Jack Butala: Yes, because you're angry.
Jill DeWit: Thanks. No, that's very funny. Driving for dollars is a real estate practice where you set out to get clients. You're literally driving and getting ... Well, there's a couple things you do. One is you're driving around neighborhoods looking for maybe a boarded up home, something that might be vacant, something that looks neglected or something that could be a possible ... They want to sell it. A listing, if you will.
Jack Butala: I don't think it's a listing so much as it is in our case. Just a-
Jill DeWit: An acquisition.
Jack Butala: Yeah, it's an acquisition candidate. It's a [inaudible 00:02:12]. I guess agents use it.
Jill DeWit: I think agents use it as a possible listing.
Jack Butala: That's probably how it ... That's probably how it started.
Jill DeWit: I think that's how it started. Now, flippers use it because they go, "Look, there's an investment there. I can buy that, and clean it up, and rent it out kind of thing."
Jack Butala: Right. Yes, you literally drive for dollars. You get in your car ... In fact, if you really want some information on how to mess up your real estate career, go to YouTube and type in driving for dollars. There's lots of people who put a camera on their dashboard and talk to you while they're doing it.
Jill DeWit: It's hilarious.
Jack Butala: They can waste your time with them.
Jill DeWit: Yes,