Updated over 9 years ago on . Most recent reply
Question about the "100 house" rule
Been reading J Scott's book about flipping, and came across the "100 house" rule. As a new investor looking to flip and look on the MLS for some houses, is asking a real estate agent to show me 100 house before I potentially buy something sub $100k really something agents are willing to do? If no, by "looking at 100 houses" (or even 50) before buying, how do you go about practically looking at 100 houses in your farm area?
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This gets asked a lot on BP.
“I normally recommend that new investors look at 100 houses before they start making offers (“The 100 House Rule”) … The houses can/should be in all different conditions, neighborhoods and price points. The goal here isn’t to necessarily find a deal, but to get familiar with what actual houses in your area look like.” J Scott,
Yes. You should physically look at 100 houses so that you understand your market and understand condition and price points as part of your education process before making offers.
If you have prior trade experience then you've probably have seen a lot of houses. With little prior experience, then looking at a lot of homes helps you understand the dynamic between price and condition in your market,
Can you get an agent to show you 100 homes without any offers? You don't have to see every house with an agent. You can see several open houses on the weekends. But yes, it would be difficult to find a single agent to show you 100 homes unless there is a clear understanding about the process.