Updated about 7 years ago on . Most recent reply
Out Of State Buyers & Wholesalers (Fake Comps)
I was just sent a "deal" from a wholesaler that literally used fake comps. They provided addresses and sales prices that didn't sell at that time or for anywhere near that price. ($40,000+ inflation on one)
They were "asking" 105% of ARV but made it appear they were offering a BRRRRR deal.
If you're an out of state buyer get reviews, verify comps, verify condition, or.... just spend the $500 on a plane ticket to get your eyes on it. This could save you a fortune.
We get tons of calls from out of state investors dealing with the aftermath of groups like Oceanpointe that don't do enough volume to get caught.
One this week bought a house based off of the pictures (looked gorgeous!) Only to find out when she flew out (after closing) that the home was gutted down to the studs and the pictures were from an old listing.
We've offered this a ton but we will FOR FREE get eyes on any property an OOS investor is looking at in Indianapolis.