When Zillow, Redfin & Trulia fall short...where does one go?

Wholesaling
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When Zillow, Redfin & Trulia fall short...where does one go?

Selvin Cummings
Jamaica, NY 路 Member since 2019 路 19 posts 路 7 votes

Hi all! Very new to Real Estate. But I've noticed that some addresses as well as Listing Agent information aren't accurate, in the titled resources. Is there truly a reliable source other than networking?

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Ismael Mathurin
Investor 路 Fall River, MA 路 Member since 2019 路 53 posts 路 26 votes
7y

@Selvin Cummings

If you're looking for comps

Check icomps, Realquest or housecanary

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  • Ismael Mathurin
    Investor 路 Fall River, MA 路 Member since 2019 路 53 posts 路 26 votes
    7y

    @Selvin Cummings

    If you're looking for comps

    Check icomps, Realquest or housecanary

    7Reply
  • Selvin Cummings
    OP
    Jamaica, NY 路 Member since 2019 路 19 posts 路 7 votes
    7y

    Thanks Ishmael! Will they also provide filters for specific markets: Short Sale, Off Market Distressed Property, For Sale By Owner...etc?

    0Reply
  • Ismael Mathurin
    Investor 路 Fall River, MA 路 Member since 2019 路 53 posts 路 26 votes
    7y

    @Selvin Cummings

    Usually provides you with most recent sales, and cash buyer information. 

    1Reply
  • Lydia R.
    Investor 路 Austin TX 路 Member since 2016 路 1k+ posts 路 2k+ votes
    7y

    @Selvin Cummings What information are you looking for? Your post was a little unclear

    0Reply
  • Selvin Cummings
    OP
    Jamaica, NY 路 Member since 2019 路 19 posts 路 7 votes
    7y

    @Ishmaelmathurin thanks. 

    0Reply
  • Selvin Cummings
    OP
    Jamaica, NY 路 Member since 2019 路 19 posts 路 7 votes
    7y

    Lydia T. I've found that Zillow, Trulia and Redfin aren't really that reliable. There've been properties that show up as being posted after one day but when I inquire, the agent tells me they've sold that property 2 years ago or that it's been sold or that they aren't the owner but are listing the property for the owner. 

    What I'm generally looking for is for a filter or some software that can produce a true list of "For Sale By Owner" leads. 

    2Reply
  • Selvin Cummings
    OP
    Jamaica, NY 路 Member since 2019 路 19 posts 路 7 votes
    7y

    @Lydia T. I've found that Zillow, Trulia and Redfin aren't really that reliable. There've been properties that show up as being posted after one day but when I inquire, the agent tells me they've sold that property 2 years ago or that it's been sold or that they aren't the owner but are listing the property for the

    owner.

    What looking for us an App, site or software that can produce a true list of "For Sale By Owner" leads.

    0Reply
  • Lydia R.
    Investor 路 Austin TX 路 Member since 2016 路 1k+ posts 路 2k+ votes
    7y

    @Selvin Cummings Oh Ok. FSBO.com is an option. There isnt really any website that can guarantee real FSBO listings. Anyone can post anything on a public site. Why are you just looking for FSBO listings?

    0Reply
  • Chris MasonPro Member
    Moderator
    Lender 路 CA 路 Member since 2015 路 9k+ posts 路 10k+ votes
    7y
    Originally posted by @Selvin Cummings:

    What I'm generally looking for is for a filter or some software that can produce a true list of "For Sale By Owner" leads. 

     Realtors looking to drum up listings pay money for such lists, I don't think anyone gives it away for free.

    1Reply
  • Selvin Cummings
    OP
    Jamaica, NY 路 Member since 2019 路 19 posts 路 7 votes
    7y

    @Chris Mason thanks Chris! I'm understanding that a little better now.

    0Reply
  • Selvin Cummings
    OP
    Jamaica, NY 路 Member since 2019 路 19 posts 路 7 votes
    7y

    @Lydia T. I'm really looking for FSBO leads. I've come across a few agents that are willing to work with me but the buyers I present the properties to, don't want to deal with them because they then have to pay the sellers, the sellers agent and me. So I'm trying to get to the owner before they've exhausted all their options of unsuccessfully selling on their own and start seeking agent assistance.

    1Reply
  • Selvin Cummings
    OP
    Jamaica, NY 路 Member since 2019 路 19 posts 路 7 votes
    7y

    @Lydia T. Also, my interests really lean towards wholesaling. Being a newbie, my thinking is to do this best with FSBO prop's. I could be wrong, don't really have anyone holding my hand through this. So, I'm being a little transparent with everyone with just how much I know.

    0Reply
  • Lydia R.
    Investor 路 Austin TX 路 Member since 2016 路 1k+ posts 路 2k+ votes
    7y

    @Selvin Cummings I had a feeling you were going to say your interest was wholesaling. I will tell you that FSBOs are not leads that turn into deals. A lot of newbie wholesalers who dont have the money to do their own marketing try to take a short cut and wholesale FSBOs and properties from the MLS. This is a big no no. The value that a wholesaler brings is finding off market deals that their buyer wouldnt have been able to get otherwise. Properties that are listed for sale dont fit this criteria. Heres the thing a lot of newbie wholesalers dont consider, say you put a FSBO under contract and start marketing it to your buyers list. Any real buyer is going to research the property youve sent them (if the numbers make sense, most of the time the numbers are bad and you just wont get any response at all) and then the potential buyer will see the home is listed for sale already and that all youve done is marked up the sales price. Those buyers will delete your contact info and you will get labelled as just another crappy wholesaler. Do not go this route!

    You need to be marketing to find your own deals. Off market properties only. If you cannot afford to do your own marketing then wholesaling is not for you. Be a bird dog instead. Find a few investors or successful wholesalers in your area and ask them how much they will pay you for bird dogging for them. Usually its around $300-$500 per property. Sometimes more if youve done more leg work.

    Bigger Pockets is a great place to lean and get info, but if you dont know what you are doing you should be spending time learning before you go out there and make a bunch of mistakes. Wholesaling is difficult and it requires capital. Lots of people think wholesaling is this no money no credit makes 1000s of dollars overnight type thing and its not. I hope this helps you!

    6Reply
  • Selvin Cummings
    OP
    Jamaica, NY 路 Member since 2019 路 19 posts 路 7 votes
    7y

    @Lydia T. Yes, this is a big help. I appreciate the advice and suggested direction. Thank you Lydia, Chris and Ishmael for taking the time.

    0Reply
  • Isaac El
    Springfield Gardens, NY 路 Member since 2017 路 258 posts 路 63 votes
    7y

    @Lydia R.  hi I am newbie here and trying to learn as much as possible, what鈥檚 bird dogging?

    0Reply
  • Lydia R.
    Investor 路 Austin TX 路 Member since 2016 路 1k+ posts 路 2k+ votes
    7y

    @Isaac El Bird dogging is when you find leads for other investors. For example people who bird dog for me go driving for dollars in neighborhoods where I want properties and they text me photos of vacant or distressed homes and give me the address for the property. I will skiptrace and contact the owner and when I buy the house my birddog gets a check.

    4Reply
  • Tom Ott
    Equity Raiser and Turnkey Provider 路 Cleveland, OH 路 Member since 2016 路 4k+ posts 路 1k+ votes
    7y
    Originally posted by @Selvin Cummings:

    Hi all! Very new to Real Estate. But I've noticed that some addresses as well as Listing Agent information aren't accurate, in the titled resources. Is there truly a reliable source other than networking?

    For Comps, I would contact an investor-friendly agent so they can give you access to the MLS and create reports. For property information, you can find a lot on the county's website.

    2Reply
  • Joshua Weaver
    Rental Property Investor 路 Beaumont, TX 路 Member since 2018 路 16 posts 路 17 votes
    7y

    @Selvin Cummings

    I can't believe I'm saying this but Facebook marketplace in my area has legitimate listings. Reading further down the thread I notice you were mainly looking at the Wholesale route. Facebook listings around here (South East Texas) will have listings from some of the local Wholesalers but also real FSBO. A suggestion I would have for you being new to the REI industry besides BP would be to find a local mentor (not a paid guru.) BP should have local investor meetups listed in your area. This gives you the opportunity to talk to local investors/wholesalers and begin to build your network. Best of luck don't get discouraged by the learning curve.

    2Reply
  • Selvin Cummings
    OP
    Jamaica, NY 路 Member since 2019 路 19 posts 路 7 votes
    7y

    @Tom Ott, thanks.

    0Reply
  • Selvin Cummings
    OP
    Jamaica, NY 路 Member since 2019 路 19 posts 路 7 votes
    7y

    @Joshua Weaver,

    Discouraged:

    I appreciate you picking up on my handicap. Discouraged is a definite understatement..... But I know I'm not giving up. I have a few goals and achievements I need to accomplish. I've got 2 lil' girls looking up to me that I must set up a legacy for. Real estate is my best option. So, I believe, though I've got the typical newbie "frame of mind" currently, me choosing the real estate path is at least a great start in the right direction.

    Mentor

    This is why I've kinda turned to BP and another reason why I chose the transparent route. Not knowing leaves you quite vulnerable but I can't help but believe that no one, on BP or or any other platform who may have years and or generations into Real Estate, is born just knowing this stuff. Someone had to take a second and teach someone else. So, I'm basically making it plain... "I'm a student....teach me". I'm really seeking the right direction I need to go in and the "how to" in my desired area.

    Facebook:

    LOL, I'm curious as to why you couldn't believe what you were about to tell me. Maybe once I get a better grip on wholesaling, the virtual aspect will begin to make sense.

    Though Wholesaling is my current focus, it's my starting point. From here maybe then renting and or leasing option, flipping then commercial. I'll find my niche. Thank you Josh, for the positive feedback and assistance in curbing some frustrations. Many sincere thanks!!!

    0Reply
  • Uneeq Khan
    Bound Brook, NJ 路 Member since 2018 路 171 posts 路 37 votes
    7y

    @Lydia T.

    This is the first time I've heard of bird dogging. I'm very interested in this now since I'm regularly finding potential properties that could be wholesaled. However I wonder, if I send a wholesaler all the info, and they make the sale, how can I guarantee that they give me a cut? What stops them from lying and saying it didn't go through and keep asking for more deals?

    I am interested in doing wholesaling (as well as rentals once I get the capital) but bird dogging seems good too since it requires less time and work (currently working 3 jobs).

    And of course, is this legal in NJ?

    0Reply
  • Lydia R.
    Investor 路 Austin TX 路 Member since 2016 路 1k+ posts 路 2k+ votes
    7y

    @Uneeq Khan You are absolutely right, that is a risk. I would suggest that if you are going to bird dog make sure its for an investor or wholesaler who is well known in your area. Someone with a good reputation and would have more to lose if you started bad mouthing them for lying and cheating. Also this benefits you because they will be more likely to be able get the deal to closing in the first place. I have a handful of bird dogs who I will pay upfront when they bring me a list of 20+ vacant properties with pictures. Its less than they wouldve made if they waited until I closed, but its money now for the work that theyve done because I appreciate their time.

    2Reply
  • Uneeq Khan
    Bound Brook, NJ 路 Member since 2018 路 171 posts 路 37 votes
    7y

    @Lydia T.

    Thanks for the info, now I just got to find a reputable and honest company to bird dog for here in NJ.

    0Reply
  • Lydia R.
    Investor 路 Austin TX 路 Member since 2016 路 1k+ posts 路 2k+ votes
    7y

    @Uneeq Khan If it doesnt work out you can always move to Dallas 馃槅

    1Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant 路 Summerlin, NV 路 Member since 2014 路 45k+ posts 路 66k+ votes
    7y
    Originally posted by @Lydia R.:

    @Uneeq Khan You are absolutely right, that is a risk. I would suggest that if you are going to bird dog make sure its for an investor or wholesaler who is well known in your area. Someone with a good reputation and would have more to lose if you started bad mouthing them for lying and cheating. Also this benefits you because they will be more likely to be able get the deal to closing in the first place. I have a handful of bird dogs who I will pay upfront when they bring me a list of 20+ vacant properties with pictures. Its less than they wouldve made if they waited until I closed, but its money now for the work that theyve done because I appreciate their time.

     basically they only screw U once and you move on.. although I have a hard time thinking bird dogging is going to do anything but give you a little extra spending money.. its not going to leap frog you into the industry.. 

    And for sure it depends on market and market conditions.. some markets you can drive down each block and see three board ups in other markets you will be lucky to see one distressed house out 500 homes..  this is not 2009.  So its very market specific.

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