Driving for Dollars

Most real estate investors begin their property searches the same way: they open a browser. I do it every day.

But here's the problem.

Everyone else does, too.

By the time an attractive property appears on a public website, countless investors have already received automated alerts, brokers have circulated marketing packages, and buyers have begun running the numbers. The competition has already arrived.

Some of the best opportunities are discovered before they ever become listings.

That's why I still spend time simply getting in my car and driving.

Why Driving Still Works

Driving through neighborhoods, commercial corridors, industrial parks, and small towns allows you to notice things that don't appear in online databases.

You begin to recognize patterns.

·       A shopping center that's becoming increasingly vacant.

·       A warehouse with weeds growing through the parking lot.

·       A restaurant that's only open a few days each week.

·       A small office building with faded signage and no apparent activity.

·       An apartment complex that hasn't been painted in twenty years.

These aren't necessarily investment opportunities. But they're clues.

Every property tells a story. Your job is to notice it before everyone else.

Look Beyond the "For Sale" Sign

One of the biggest advantages of driving is that you're not limited to properties someone has already decided to market. Instead, you're looking for owners who may not even realize they're potential sellers.

Perhaps they've retired, or just plain tired of managing tenants. Deferred maintenance is no longer a complaining tenant problem, it’s a vacancy problem. The most common reason is simple inertia—still planning to “get around” to talking to some real estate agent.

Those conversations often begin with a simple observation.

"I've driven by your building several times and wondered whether you've ever considered selling."

That approach has started more successful transactions than many people realize.

Learn to Spot Opportunity

After a while, you begin to notice recurring signs that deserve a closer look.

Watch for:

• Long-term vacancies
• Overgrown landscaping
• Faded tenant signs
• Multiple temporary "For Lease" banners
• Parking lots that are consistently empty
• Buildings with obvious deferred maintenance
• Excess land that isn't being used
• Older shopping centers in improving neighborhoods
• Industrial buildings near expanding transportation corridors
• Properties adjacent to new development

None of these automatically creates value.

But each one deserves further investigation.

Don't Ignore Small Towns

Some investors never leave the major metropolitan areas.

That's a mistake.

Many excellent opportunities exist in secondary and tertiary markets where competition is lower and local owners may have held properties for generations. They don’t list because they’re friends with all the real estate agents in town. Who to choose? Who to offend?

Keep Good Notes

Finding a promising property is only the beginning.

Record:

• Property address
• Date visited
• Photos
• Initial observations
• Questions requiring research
• Potential contact information
• Follow-up date

A simple spreadsheet works well. Many investors also use mapping software or customer relationship management (CRM) systems to organize prospects. My husband uses stacks of paper. Don’t judge. It works for him.

The important thing is having a system. A forgotten lead has no value.

Every Business Mile Matters

One additional benefit of driving for dollars is that legitimate business mileage may qualify for an IRS tax deduction when properly documented.

Good records are essential.

The IRS expects a contemporaneous mileage log showing:

• Date
• Starting location
• Destination
• Business purpose
• Miles driven

Fortunately, several smartphone apps can automate much of this process by tracking trips using GPS and allowing you to classify each drive as business or personal before generating IRS-friendly reports.

The standard business mileage rate changes periodically, so verify the current rate before preparing your tax return. As of July 2026, the IRS business mileage rate is 76 cents per mile. The IRS has not yet published the 2027 standard mileage rates, which are typically announced near the end of the preceding year.

Relationships Beat Algorithms

Real estate has become increasingly digital. Artificial intelligence can estimate values. Websites can identify comparable sales. Software can predict demographics.

None of those tools can replace a conversation.

The owner of an aging shopping center doesn't sell because an algorithm says it's time.

He sells because someone built enough trust to ask the question.

Driving creates those opportunities.

It gets you out from behind the screen.

It helps you understand neighborhoods instead of simply analyzing data.

Most importantly, it reminds you that every parcel of real estate is owned by a person with a story.

The next great investment may never appear online.

It may simply be waiting for someone willing to drive down a road they haven't traveled before.