When you’re hunting for real estate deals, nothing beats getting out into the neighborhood and seeing properties firsthand. Greg Shyne and Cory Thompson demonstrated just how effective “driving for dollars” can be when paired with tools like the Propelio app. The combination of humor, sharp observation, and actionable strategies shared during their trip shows why this approach works so well. Here’s a breakdown of their journey and the key takeaways for real estate investors.
Setting Out to Explore Neighborhoods
Greg and Cory’s adventure started in a car, navigating unfamiliar streets and sharing laughs to keep things light. They used the Propelio app, a mobile-friendly tool designed to help investors track, save, and manage leads while scouting neighborhoods for distressed properties. But first, getting logged into the app took a little creativity—apparently, passwords inspired by exes and specific memories can come in handy in a pinch.
This lighthearted moment reminded us of something important: preparation matters. Before heading out to search for properties, ensure you’ve got all your tools, including logins and any necessary documents, locked and loaded.
How to Spot a Potential Property Lead
Driving for dollars involves keeping your eyes peeled for signs that a house might be in distress. Certain visual cues are hard to miss and often signal an opportunity for real estate investors. Here are a few things Greg and Cory called out during their drive:
- Overgrown Lawns and Weeds: A clear sign the property isn’t being maintained.
- Damaged Roofs: Bloated shingles, missing tiles, or rocks on the roof to hold things down.
- Boarded or Broken Windows: Indications of neglect or abandonment.
- Trash Piles or Clutter: Items left outside, like discarded furniture or poorly maintained carports.
- For Rent Signs: These can be homes where the owners may consider selling instead of continuing to lease.
Each detail tells a story. For instance, they noticed a house with a cluttered garage and suspected the owner may be overwhelmed and willing to sell. Another property had solar panels, prompting Cory to reflect on the complications of buying homes with long-term solar leases. These small but significant clues often lead to motivated sellers.
Leveraging the Propelio Driving for Dollars App
One tool that kept their effort organized was the Propelio app. This platform allowed them to save properties they wanted to investigate further, view tax records, and even initiate skip tracing or mail campaigns. Here’s how they effectively used the app:
- Save Properties While Driving: For every potential property, they saved the address and made notes about its condition.
- Access Property Details: The app provided critical data like last mortgage dates, owner names, and tax records for deeper insights.
- Launch Direct Outreach: From the app, they could send direct mail or skip trace owner contact information for immediate follow-ups.
Tools like this ensure investors don’t miss opportunities, especially when visiting dozens of properties in a single day.
Neighborhood Clues Speak Volumes
As Greg and Cory drove through various neighborhoods, they emphasized the importance of observing local trends and talking to residents. According to them, neighbors are valuable sources of information. Longtime residents, for example, know which houses have problems, which ones are vacant, and who’s likely to sell.
One of their key points? Never underestimate the mailman. These unsung heroes know every home on their route and can easily point out vacancies or owners who’ve moved out of state. Giving them access to apps like Propelio could create a steady pipeline of high-quality leads.
The Telltale Signs of Distressed Properties
Greg and Cory also shared the importance of observing specific details beyond the obvious signs of neglect:
- Moving Trucks: A partially loaded U-Haul truck is a huge giveaway that someone may be moving out and ready to sell.
- Abandoned Vehicles: Cars or boats left stationary for years hint at absent owners.
- Unusual Security Features: Excessive security cameras or modified peepholes can signal paranoia and potential distress.
- Solar Panels: While environmentally efficient, leased panels can create complications for buyers and sellers alike.
They even spotted a property with a watermelon patch in the yard—quirks like these often highlight motivated or unconventional owners.
Engaging with Property Owners and Neighbors
Conversations with homeowners are an essential part of driving for dollars. Greg and Cory showed how to approach people respectfully, explaining their intent and leaving business cards. Even when homeowners weren’t interested in selling, introductions often opened doors to referrals or other local insights.
Sometimes, though, humor played a role. When a homeowner was startled by their sudden visit, Greg joked it might’ve scared him into considering an offer. This lighthearted approach made even tense moments feel manageable.
Why Overgrown Lawns Are Real Estate Gold
Greg highlighted an important trend: property maintenance tends to be the first thing to go during financial hardship. He explained how owners typically stop mowing the lawn, fixing their air conditioners, or repairing roofs long before missing tax payments or starting the foreclosure process. Recognizing these “early warning signs” gives investors an edge in finding deals before they end up on well-known lists.
Learning from Past Deals and Mistakes
One of the most valuable lessons shared was the importance of transparency when selling a home. Greg talked about a previous mistake where they unknowingly bought and sold a house with fire damage. Although the damage had been repaired, not disclosing the incident led to upset buyers after neighbors spilled the beans. The moral? Always disclose property history, even for issues you’ve fully addressed.
Why Networking is King for Real Estate Investors
Their experience underscored the power of building relationships in the neighborhoods they explored. By talking to people like mail carriers, neighbors, and even other investors, they gained insights a simple online search couldn’t provide. Tools like Propelio amplify this by making it easy to share leads and collaborate with others in your network.
Greg even invited local mailmen to join his team, promising them financial incentives for labeling vacant properties. This creative approach to networking highlights how thinking outside the box can create long-term opportunities.
The Competitive Edge of Driving for Dollars
One critical insight shared during the drive was that driving for dollars helps investors get ahead of the competition. Properties that appear on tax delinquency or foreclosure lists are already known to many, creating high demand and low margins. But identifying distressed homes early—before they hit public records—gives you a major advantage.
Wrapping Up a Day of Hustling
By the end of the day, Greg and Cory had added dozens of properties to their lead list. Some required follow-up calls, while others were worth mailing campaigns or personal visits. They showcased the hustle required to succeed in real estate and emphasized that driving for dollars is about maximizing every resource—tools, relationships, and time.
Their final piece of advice? Stay consistent, stay observant, and always be ready to adapt. That’s how you turn distressed lawns into leads—and leads into profits.
Embracing driving for dollars can seem overwhelming at first. But with tools like the Propelio app and strategies for reading neighborhoods, even beginners can find success.
