Rental Property Investor · Oklahoma City, OK · Member since 2020 · 43 posts · 13 votes
Hello everyone, I'm in the beginning stages of becoming a Real Estate Investor and upon my many searches I was directed to PropStream a lot of other wholesaler's and other REI's speak highly of it. So I created a account there is a abundance of information the software provides. I search for properties get all the information I need but what do I do with all this information? I've used it to get my numbers for ARV's and such. Am I on the right path using this software or is it unnecessary for a newbie like me?
Rental Property Investor · Eugene/ Springfield, OR · Member since 2012 · 99 posts · 69 votes
6y
Depends what your path is. Flipping and wholesaling it's useful for sure. What are you doing to GET PROPERTY? Once you comp these place are you reaching out and putting offers? Propstream is a tool for business. No need to pay for it if you putting offers out and getting property. You can learn how to comp stuff off zillow and realtor (all closed deals are public info so it's posted)
Once you get your arv take 75% of the value and find out if it needs work and find out the price of that work. Then contact the owner and offer to buy it. you'll find the money if you get a good deal.
Specialist · Martinsville, VA (martinsville) · Member since 2020 · 8 posts · 1 vote
6y
@Demetrius Ward
Newbie myself and still working on a few things before I get started but I'd say with a decent amount of cash it would he a good way to start wholesaling and I'd say a decent way find off market, liens, foreclosures,etc.
After you get a few deals, get use everything and know generally what all the costs should be it would be a good way to run comps but I would run them by a realtor to double check.
I actually had the service a while back but cancelled it due to lifes road bumps.
Rental Property Investor · Eugene/ Springfield, OR · Member since 2012 · 99 posts · 69 votes
6y
Depends what your path is. Flipping and wholesaling it's useful for sure. What are you doing to GET PROPERTY? Once you comp these place are you reaching out and putting offers? Propstream is a tool for business. No need to pay for it if you putting offers out and getting property. You can learn how to comp stuff off zillow and realtor (all closed deals are public info so it's posted)
Once you get your arv take 75% of the value and find out if it needs work and find out the price of that work. Then contact the owner and offer to buy it. you'll find the money if you get a good deal.