Has anyone used Express Homebuyers or MarketPro Homebuyers?

[Mary K.]

Hi All!

Has anyone used Express Homebuyers, MarketPro Homebuyers or another big name wholesaling company? 

I am a relatively new investor and am wondering what your experience was like.

[Ari Bachrach]

I've used them in the past. They're one of the largest wholesalers in the DMV area, but other than that nothing special about them. The biggest problem I had was the title company they used - clothesline title. Clothesline is known as a terribly shoddy titles company. One of the title attorneys I work with regularly said he's seen significantly more mistakes by clothesline than any other title company, some of which have prevented people from being able to resell or refinance their house. (They also screwed up something on our purchase, but luckily it was fixable when we went to sell it). Feel free to use MarketPro, but try to use another title co.

[Mary K.]

@Ari Bachrach thanks so much for sharing your experience!

Have you used any other wholesalers?

[Mary K.]

@Ari Bachrach thanks so much for sharing your experience!

Have you used any other wholesalers?

[Ari Bachrach]

I've used a handful. My favorites are:

• http://www.fourbbh.com
• http://BuyBaltimore.us
• http://www.truepropertiesdunda...
• https://www.cashflowinbaltimor...
• www.MDDiscountHouses.com

Also check out "Maryland Investor Network" on Facebook as a lot of wholesalers post there. It's mostly Baltimore focused but starting to expand to other parts of the state.

[Mary K.]

@Ari Bachrach

Thank you!

[James A.]

@Ari Bachrach Thank you the great information above! Just curious what your opinion was about the accuracy of their ARV and their reno budget?

[Mike Shahi]

great info @Ari Bachrach this really helps!

[Mary K.]

@Ari Bachrach I know all wholesalers like to quote the rosiest comps possible but I expected more from a large company. They list houses sold years ago with more bedrooms and bathrooms....disappointing. When you purchased with this company, was the price you settled for much lower than the one they listed? Thanks!

[Robin Bogin]

Jumping in a little late to this conversation but wanted to share some stats on the question regarding MarketPro's ARV. Over the past 18 months our average projected ARV, for properties that were purchased and then resold, was 102%. 66% of our investors sold their properties for over the projected ARV, while 95% of our investors made at least 90% of projected. Please feel free to reach out to us directly if you have any questions.

[William Harris]

@Mary K.Just seeing this post! But I've definitely noticed that Market Pro sends the highest number possible as their ARV. Their spreads are a hit or miss, so you have to just do your own homework on comps and figure out if you can profit off their asking price. I usually subtract about 50,000 off their ARV to be safe when analyzing the deal.