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If you're a wholesaler or a real estate investor driving for dollars, it's essential to know where buyers are purchasing properties in your area. This knowledge can help you narrow down locations where you can find other motivated properties that you know your buyers are going to want to purchase. In this blog post, we're going to walk you through the process of figuring out where people are buying in your area, using DealMachine.
Driving for Dollars with DealMachine
DealMachine is a powerful tool for finding potential investment opportunities and managing your real estate leads. One of the best features of DealMachine is its map functionality, which can help you identify hotspots where buyers are purchasing properties. You read that right, not only can you use it to find distressed properties and find motivated sellers, but you can also see where people are buying. Here's how to use DealMachine to identify where people are buying in your area:
Step 1: Access the Map Section in DealMachine
First, open the DealMachine app and go to the map section. This is where you will be able to see all the properties in your area mapped out, allowing you to easily identify clusters of recent property sales.
Step 2: Create a Highlight for "Sale Date"
Next, click on the "Highlights" button, and then click on "Create Highlight." Choose the "Sale Date" option. You will then have the option to choose between County records or MLS data; this is just your personal preference. For this example, we'll choose County records.
Step 3: Filter by the Sale Date
Now, it's time to filter by the sale date. We recommend selecting a date range of the past six months to have a clear view of the latest trends. Click "Apply" to apply the highlight.
Step 4: Analyze the Results
After applying the highlight, you'll be able to see where properties have been sold within your chosen timeframe on the map. As you drag your mouse across the map, you'll notice clusters of recent sales, which are the areas where buyers are purchasing properties.
Make sure to pay attention to areas with a high concentration of sales, as well as areas with no recent sales activity. This information can help you determine which neighborhoods are worth targeting for your driving for dollars efforts.
Remember that in large metropolitan areas, real estate trends can change from block to block. Always zoom in on those hotspots to get a clearer picture of the specific neighborhoods you should focus on.
Step 5: Search Specific Zip Codes or Addresses (Optional)
If you're interested in checking another area, simply type the zip code into the search bar, and the highlight will remain active. You can also enter specific street addresses if you know of a property you want to investigate and compare other properties sold around it.
Step 6: Drive Around the Identified Areas and Find Golden Leads
Now that you have identified the areas with high buyer activity, it's time to hit the road and start looking for motivated properties that your buyers might be interested in purchasing. The more targeted your driving for dollars efforts are, the higher the chances you'll find properties that buyers will want to purchase from you.
Conclusion
Investing in real estate can be a challenging endeavor, but having the right tools and information can help increase your chances of success. By using DealMachine to identify where buyers are purchasing properties in your area, you can focus your driving for dollars efforts on the most lucrative locations and, ultimately, create a more efficient and profitable real estate investing strategy.
If you have any questions or want to learn more about using DealMachine to grow your real estate business, feel free to send us a message! And if you're brand new to driving for dollars and want to learn how to do it step by step, check out this video tutorial. Happy DealFinding!