Updated over 5 years ago on . Most recent reply
Difficulty pulling Comps
Hey BP Fam!!!
Any feedback is greatly appreciated... I subscribed to Deal Machine and started driving for dollars the same day. I went to a neighborhood in Evansville, Indiana where there were a some vacant, unkept properties. I started taking pictures and I sent those pictures to deal machine. People started calling immediately. So, I went out and met with the sellers, found out what the motivation was to sell, after that... I looked at the properties, took a TON of pictures and went back to the homefront to see if anything I looked at made any sense.
I went to Zillow, Realtor.com & homes.com to pull some poor mans comps but, with the neighborhood being so old and the properties being built in the early 1900's, I couldn't find an ARV. Out of all the sellers I've conversed with, there's one in particular that owns two properties right next to each other. He doesn't want much for them but, with looking at rehab and without having an accurate After Repair Value, Wholesaling won't work.
My first mind told me to lock the properties up and start marketing them on Craigslist & Facebook for what's being sold in that neighborhood... The voice of reason sent me to BiggerPockets. The seller is waiting, I've used the little bit of Real Estate Jargon I'm familiar with to keep the seller from losing interest. He's patient, I don't know if he knows I'm a rookie... That doesn't matter to me. My main focus is to help the seller and to gain some experience. I know I'm going to make mistakes and I'm fine with that. Maybe that's the learning curve. I just don't want to do anything unethical or illegal.
Give it to me straight.
Most Popular Reply
@Michael Freeman
Did you try reaching out to your local title rep to see if they can confirm any off market sales that might have closed!