Wholesaling

4 Replies

As a new investor in wholesaling, would I need the MLS to evaluate the numbers for a deal?

If you are licensed, then having the MLS would help in getting some good comps, but if you not licensed and still want to use the MLS you can contact a realtor and ask them if they can get you a CMA (comparable market analysis) done on a house. Some Realtors will be more than happy to help you out if they feel it will bring future business for them.

It would be nice to have but no not necessary. You can go online and run comps on your own. For example, using the price my home tool on Redfin. You can also ask realtors to do it for you since they have MLS access. Repairs are trickier. Look around online so you can learn how to price things out, assuming you can't already. You can also work with contractors to get a real estimate. You should be networking anyway so now you know to start looking for people that can help you with these numbers. One way or another, just make sure your numbers are good before you start trying sell deals off to other investors.

Gerardo Dominguez, Real Estate Agent in IL (#887086)

The MLS isn't a necessity, but it would definitely be beneficial. It can help you get a solid estimate on what a property is worth which is the core of everything. I'd strongly recommend getting comps ran through the MLS unless you are already really good at estimating what a property could sell for yourself. But even then, I'd check the MLS somehow. Like Martin said, there are ways realtors can help you with that as well.

Thanks a lot.  This information is very helpful