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Updated almost 4 years ago,
How to find off-market sales data
Hey y'all,
I'm a realtor-investor looking to start a business that flips distressed properties into affordable housing (affordable meaning 450k rather than 550k). One of the biggest stumbling blocks my team is running into is forecasting acquisition costs.
My assumption has been "every home and every seller is different. You can't know potential acquisition costs until you talk to sellers."
What would be WAY more efficient that doing all of the marketing to bring in seller leads in and have those conversations, is if there were some way to track off market sales prices just like we can for on-market sales in the MLS.
Assuming I don't have personal experience negotiating sales prices on flip deals, how would you recommend I go about understanding a reasonable sales price to offer a seller?
If we can't get our acquisition costs down low enough, we'll definitely need to re-work our model.
Thanks in advance!