All Forum Posts by: Wes Farmer

Here is an example of what I mean. If you search in Owensboro, KY on Zillow there are four properties listed under foreclosure. Does that mean there are only four REOs listed or are some of the retail properties likely REOs that are not advertised as such or are hidden? If so how do you go about finding which ones are which? Would that require MLS access to read the listing agents notes?

Thanks everyone. This definitely helps clear up the passage in the book.

I am reading J Scott's Book on Flipping House's and want to hear some of the forum member's interpretations of Chapter 4 subsection Analyzing Potential Properties "Price ratios between distressed and retail sales". I'm having a hard time figuring out exactly how to find these numbers to calculate a ratio for my area. J mentions a 50% average to look for, but where do I get these numbers to calculate the average? Does this require access to the MLS and if so which search filters should I be using. Its a wonderful book but I'm stuck on the subject of analyzing my potential markets. Any help would be greatly appreciated.

@Jason McColly I am a new investor in western Kentucky. I lived in Lexington for about a decade through college at UK and after. Welcome!  This place is great. Make sure you network with people in your area. Good luck!

@Thomas Morris how do you find deals in BG? MLS, direct mail?

@Thomas Morris I will definately look you up if I'm over that way. I have a log of interest in BG as a potential investing location. Its a growing town and close Nashville. Is it a good market in your opinion? Also, do you know of any local REI clubs in western Kentucky?

Thanks @Jody Young for reaching out. It is always good to meet new people from the tristate are here on BP. 

John,

Thanks for the advice. You're right, the BP podcasts are amazing!

Bryan, lets meet up for sure. How donwe exchange contact info through BP?

Thanks Jim Wilcox. I live in Lexington through out college. Great town! Would love to invest there someday. I am probably more likely to start here in the western part of the state. Its good talk to a fellow Kentuckian.