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Updated over 7 years ago on . Most recent reply

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26
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Chris A Godbolt
  • Chesapeake, VA
10
Votes |
26
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Can great deals really fall to sites like Zillow,trulia, etc

Chris A Godbolt
  • Chesapeake, VA
Posted
I am a new investor from North Carolina stationed in San Diego (active duty) I am currently looking to wholesale and collect rentals. With all that said I do not have access to the mls where a lot of great deals get taken before they are released to someone such as my self. My question/concern is Can I have success working off of these websites such as Zillow trulia Craigslist and the other thousand real estate websites. I have found a few that look like they will cash flow well but one imparticular has caught my eye. 5 br 3 bath 2100 sq ft just outside of charlotte great location great neighborhood where the homes average 180000. This particular property is forclosure for sale by lender for 181000 which Ik I can get it for lower but by running the numbers for the asking price For a rental I can cash flow 500+ and cash on cash with 50000 invested (down payment and repairs) 14%. So as a rookie am I missing something or do deals like this just sometimes slip threw the cracks? Thanks for the help in advance!

Most Popular Reply

User Stats

27
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18
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Geoff Perkins
  • Rental Property Investor
  • Prosper, Tx
18
Votes |
27
Posts
Geoff Perkins
  • Rental Property Investor
  • Prosper, Tx
Replied

I would find another site to use, Zillow has some super outdated stuff on their site and misses other active stuff. Back in 2012 I used Zillow and found a prospect for a flip, wen over to Redfin to see some bother information that they show and the property had already been bought, flipped and was up for sale over $100k higher. Also I have friends who are looking to buy a house and he sent me 2 properties he found on Zillow and one sold a month ago and the other is bank owned but not for sale. Try realtor.com they seem to have up to date info and are in pretty much all markets I believe. Good luck!

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