All Forum Posts by: Robert M.

I am new investor who plans to start my wholesale business this January. I am in the process of researching how to buy a decent list to market to.

My criteria is as follows:

Absentee owners

SFR (3-5 bedrooms)

Owned 7+ years

40%+ equity

I used listsource.com to target my hometown and found 3,430 leads. This list costs approximately $591.68 which roughly equates to $0.17 per lead. Is this a normal price to pay for leads?

On BP I also heard of people mention another website called agenpro247. It looks like I can do the same search but am limited to 2000 leads for $80/month which equates to $0.04 per lead. I do not know the quality of the lists coming from this website so am unsure if I should sign up.

As a new investor I am doing everything I can to keep costs down while I learn the business, any advice you guys could provide would be greatly appreciated.

Wow! Thank you so much Matt and Ryan for giving me the honest truth. I have relayed this information to my relative.

I am new to biggerpockets and have been learning a tremendous amount from this site. I just came upon a property which I need advice from the mastermind group (you guys).

Question

A relative purchased this property on eBay.

908 Clay Ave, Toledo, OH 43608 for $3,500.

My relative is from California yet the property is in Ohio so managing it is a problem and has had a change of heart and wants to get rid of it now. I am in the process of starting my wholesale business started and thought because of the price I could do a quick wholesale assignment for a small fee $500-$1500 just to get my feet wet . I researched the property online to get comps and got an ARV estimate of about 17.5k and similar homes rent for $500/month.

We had someone go out to the property to give us a repair estimate of about $31,301!!!

The main items on the estimate are:

• New roof
• Clean out trash (excessive)
• Back porch concrete decks needs to be replaced
• Replace all kitchen cabinets/sink/faucet/countertop
• Replace bathroom cabines
• New how water tank
• New paint/carpet/tile
• Fix broken/loose trim and paneling
• Replace hot/cold water lines to the main tank
• Kitchen/bathroom drains need to be repaired/replaced
• New furnace
• Fix broken windows
• Replace fascia and missing soffit on front porch

I am now scratching my head not knowing what to do with this property. I can't wholesale it to another investor, flipping it would make me lose money. This property is free and clear but I am unsure of what exit strategy to recommend to my ailing relative.

Thank you so much for your quick response. I initially believed you were wholesaling. I haven't purchased a list from listsource.com yet but it sounds like the agentpro247 Gold Membership (2000 records/month) is a cheaper alternative to listsource.

Offtopic question - How do you tag someone to your post?

@SETH WILLIAMS

I am a new wholesaler and want to use AgentPro247. I went to the site and signed up for the bronze $20/month plan for 2,000 records. But I can't filter by Loan to Value (LTV) to find potential sellers with equity. What values/fields are you filtering your searches by?