All Forum Posts by: Victor Maddox

thank you for your help, I could have gotten started nearly a month ago if I had thought to ask this question here sooner! I guess I have to do some research to see what the average price difference is here in philly. 

Ok so if I'm running comps and I come across a property where there's only 1 or 2 comps that have the exact same number of features as the property I'm looking to wholesale, but there are a few that are close but different by one feature (say, an extra half/whole bathroom or an extra bedroom) would it be possible to include these in the comps and adjust the numbers so they match the property i'm trying to wholesale? 

If so, is there any general number that usually works best in this regard (I.E. take off/add $5K for an extra bathroom, etc?). And does this work with garages/basements too?

Sorry for all of the questions, I'm just at the last hurdle before I can finally start cold calling and I find a lot of houses where I can't find exact matching comps.

@Brie SchmidtThank you for that, I wasn't aware of that fact!

So in my due dilligence for wholesaling and looking up comps for my list of properties, there have been a few of them where googling the comparable property to find info pulls up different information on different RE websites, namely the property type (I.E. Single family, Townhome, etc). I currently don't have MLS access so I've been using mainly Zillow and Redfin, but I was wondering if there's a way to be able to verify which it is, like via public property records or anything? This and many comps lacking interior pictures are the last few roadblocks I need to get through before I can start finally making some calls and hopefully some deals.

Thank you all for the responses! I guess some of these properties will just have to sit in my list until some good comps in the area are sold.

This may seem like an obvious question/answer but I figured I'd ask anyway just to be sure. So for a multitude of properties in my area there are houses I find on Zillow/Redfin that look like they could be used as a good comparison via the numbers, but there are no pictures of the inside available to see what the home looks like. Should I just automatically write these off or is there some alternate way I don't know about to find out what the insides of these homes look like?

And another question, how far back is it usually acceptable to go when looking for comps? It's usually no farther back than a year right?

I've narrowed down my first few deals and all of them are in the state of pre-foreclosure due to delinquent taxes, but I'm confused on how I go about approaching the homeowner. Do I go the normal route of skiptracing, calling them and explaining how I want to help them? I figured this would be the case but then again I wasn't sure if that would be the way to go about it that would be the most welcomely received? What about if I get questions like how I knew their situation or #? Any tips on what to say?