How to get your first loan

4 Replies

I am new to the investing scene and I'm running into the same problem no matter where I look or maybe I'm not looking at the right things. I don't understand how do I come up with the arv without using MLS and be confident in those numbers. I have used realtor and Zillow which by the way leaves me more confused then I was before I started. Does anyone have suggestions, please and thank you.

Originally posted by @Tommiesha Purnell :

I am new to the investing scene and I'm running into the same problem no matter where I look or maybe I'm not looking at the right things. I don't understand how do I come up with the arv without using MLS and be confident in those numbers. I have used realtor and Zillow which by the way leaves me more confused then I was before I started. Does anyone have suggestions, please and thank you.

You shouldn't come up with comps without using the MLS. Why go into a gun fight with a knife? If there are others in your business who have access to this tool why would you want to try & compete without it?

You've got two options to better compete with your competition.

  1. Get your own license. This is the better option as you'll have more tools to compete with other than access to the comp data.
  2. Get an agent to put you on an MLS drip for comps. This option isn't as good as option 1 but it's a lot cheaper & quicker.

Thank you so much for your response. I figure if I get my investing business off the ground then I can double back and get my real estate license. I was told there is a lot of requirements as far as a realtor job goes and I don't want to be trying to get 2 separate business off the ground at once. I came from a completely different side of the work force which was health care, so everything a literal 360.Where do you go for your list sourcing?

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