Ep 90: How to Find Discounted Properties in Any Market with Zack Boothe
Today, we are excited to hear from Zack Boothe, the founder of Drive For Dollars (DFD) Mastery. After struggling to get ahead despite grafting hard at his window-washing business, Zach knew that he had to make a change: not only in terms of creating more income for his family but also in the hours he spent at work, constantly having to fill in for employees who failed to pitch up for work. But when he got wind of the opportunity in wholesaling, he started educating himself, bought his first properties, and soon learned which side of real estate he did and did not enjoy. When he figured out that flipping houses and construction were not his forte, he focused his attention on wholesaling and even acquired the help of several coaches who would show him the ropes around the industry. But it was only after a few years that he started reaping the rewards and started experiencing the benefits of wholesaling firsthand. What he quickly learned was that folks are often willing to exchange money for convenience, and thus Zach began looking for people who wanted to get properties off their hands at a reduced cost. For him, it is never about convincing someone to buy or let go of their property but about solving a problem they have and meeting an existing need because these are by far your warmest leads. Tuning in, listeners will hear him make a case for the driving for dollars strategy and explain why using postcards and direct mail are better than cold calls when you are just starting.
Key Points From This Episode:
Getting into real estate to gain financial freedom and escape the burnout of running a small business.
How Zack’s life has changed since getting started in real estate four years ago.
Zack talks about the frustration of working in his window-washing business instead of on it.
Educating himself, buying his first rentals, and discovering that flipping wasn’t for him.
His entry into wholesaling, hiring coaches, and when he was finally ready to quit his day job.
Zack talks about the important role that convenience plays in landing deals at a great price.
Why you should avoid convincing anybody to buy something they do not need/want.
Hear about the app the helped Zack scale his driving for dollars strategy of finding deals.
Why driving around and looking at properties is still the best way to discover opportunities.
Telltale signs that the owner of a house might be willing to sell their property at a discounted price.
Why you should pay drivers by the hour rather than giving them a commission.
Figuring out where you want to do deals, which areas to look in, and the best attitude to have.
Using texts, cold calling, and postcards to expand your reach and get into any market.
How Zack practices the principle of giving through his mentorship program.
Identifying motivated sellers by starting with direct mail and postcards rather than calling.
“I went and did a proof of concept that affluent people would trade convenience for price.” — Zack Boothe [0:13:27]
“A lot of people want to see success but they don’t want to do the work. The pain of not doing a deal is not as strong as the pain of doing the work. So, they don’t necessarily put in those efforts.” — Zack Boothe [0:36:11]
Links Mentioned in Today’s Episode:
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