Hello! New investor here from Las Vegas, currently has done 1 flip and 1 under contract rehab being done in my local market.
I have connected and networked with out of state Realtors (Texas/OKC) to send me BRRRR or fix n flip deals and I have received some deals. My question is how do we determine and analyze the deal properly and know if it is a good deal or atleast 70% of ARV if it is outside of our market where we have no knowledge of that market? I can analyze it in my own market with no problem in MLS and I have tried Zillow to run some comps. Anyone has any other way to run some ARV's other than going with what realtors and wholesalers tell you?
Real Estate Broker · Hyde Park Tampa, FL · Member since 2019 · 2k+ posts · 3k+ votes
4y
Unless you're willing to do the research and learn the markets under consideration, don't move forward. The only person you should EVER trust to analyze a deal for you is - YOU. For me as an investor and broker, the market is a huge driver. Choose right and be rewarded for it; be wrong and it's an expensive problem to have. You're starting an out-of-state business...you need to find out if it's the right "out-of-state" place to be. Do the homework...