Buying Real Estate On BP Marketplace
Hi all, just upgrade to PRO couple days ago and discover the marketplace that listed some incredible deals around the country, some are too good to be true to be honest (cash on cash ROI 30%++) and beg many questions: 1) Why are they even on the market if the cash flow so great? 2) How do we, as BP members, know it's legitimate? 3) What's the process to vet these deals—your suggestions?
Thank you so much in advance!
Vet them like you would any other deal.
they likely arnt as good of a deal as you think they are if you look at the local data.
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#3 New Member Introductions Contributor
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Originally posted by @Adam Harper:Hi all, just upgrade to PRO couple days ago and discover the marketplace that listed some incredible deals around the country, some are too good to be true to be honest (cash on cash ROI 30%++) and beg many questions: 1) Why are they even on the market if the cash flow so great? 2) How do we, as BP members, know it's legitimate? 3) What's the process to vet these deals—your suggestions?
Thank you so much in advance!
You've gotta vet these deals same way you'd vet something you found on the MLS, Zillow, Loopnet, Youtube or anywhere else. Next thing is you don't want to put much stock into the ROI numbers presented. The BP marketplace automatically assigns an estimated ROI using the 50% rule of the estimated rents. This doesn't mean that is actually what the estimated ROI of the deal will be. Further more the estimated ROI of any deal is just that, an estimate. Rental properties have a ton of variables at play at all times. Every property will perform differently over time.
