Investor · Potomac, MD · Member since 2015 · 39 posts · 8 votes
Hi friends,
My back is against the wall, and I've got to close my first wholesale deal this month, in order to pay July rent. I have found a great house in Baltimore, and the seller is willing to give me an exclusive contract for one week.
I don't have access to accurate comps, and the estimated numbers I am finding for the home's value are all over the place.
Would someone who is an agent in or near Baltimore be willing to pull 2-3 comps for me? I can pay you, and I would be potentially interested in using your services for comps on a long-term basis, if I have a deal in your area.
Checkout FranklyMLS.com - it is a great resource for pulling comps in Maryland. There is a bit of a learning curve to figure out how to set up the right search terms (eg., "21234 (3bdr,4bdr) (2ba)" will pull up all the properties in 21234 with 2 bathrooms and either 3 or 4 bedrooms) but it has more data then any other website besides MRIS (which, of course, you need to be licensees to access). I have MRIS access but I still use FranklyMLS to do quick comp searches.
My back is against the wall, and I've got to close my first wholesale deal this month, in order to pay July rent. I have found a great house in Baltimore, and the seller is willing to give me an exclusive contract for one week.
I don't have access to accurate comps, and the estimated numbers I am finding for the home's value are all over the place.
Would someone who is an agent in or near Baltimore be willing to pull 2-3 comps for me? I can pay you, and I would be potentially interested in using your services for comps on a long-term basis, if I have a deal in your area.
Thanks in advance,
Johanna Anderson, Silver Spring, Maryland
I think many of the wholesalers on BP should take note of this post. @Johanna Anderson as a wholesaler is offering to pay an agent to give her accurate comps. I am approached almost weekly on BP by wholesalers who want me to run comps for them, but do not ever expect to use my services as an agent. As a wholesaler you either need to be able to run your own comps accurately or pay someone to do it. You can not expect someone to do a lot of work for you for free. It just makes zero sense. I do BPO's (Broker Price Opinions) for banks, which is just essentially pulling comps and putting them in a report. A bank pays me $50 to do an external BPO and $100 to do an internal BPO (Internal meaning I enter the property, External I just view it from street).
I gladly pull comps for free for someone I have an existing relationship with, but why would I do that for a total stranger that is not going to do any sort of business with me?