New Guy needs help with deal analysis

[Anthony H.]

Hey you guys,
I've been out kinda spreading the word that I am transitioning to wholesale investing and someone sent me this:

A deal in San Antonio, Tx, selling for 106k, valued at 148k. needs about $2500 in work. Only needs some minor landscaping and paint in garage.

I don't no if it something worth purtsuing or not?
I definitely need your advice...clueless!

[Ted Harris]

You need to check the value yourself - can't take their word for it. Obtain recent comps (last 3 months) so you can know the true value of the property which will determine if you should pursue it.

[Anthony H.]

Ted,
Would this mean contacting a realtor in that area to pull comps or is their another way?
Do agents ever take deals out from underneath you?
And how do I protect the deal?

[Loc R.]

Assuming you're in Baltimore, MD, like your profile says and this deal is in San Antonio, TX, the short answer is "YES", you will have to bring in the services of a realtor.

Part of being successful in real estate, whether you're a flipper, a wholesaler, or (you name it), is having a good, trustworthy team wherever you're investing.

[Ted Harris]

Ted,

Would this mean contacting a realtor in that area to pull comps or is their another way?
Do agents ever take deals out from underneath you?
And how do I protect the deal?

Yes, as stated by SolidReturns, you'll need an Agent's help especially being out of the area. I doubt the Agent would submarine you - 99% of Agents just want their commission!

[Anthony H.]

Thanks Guys,
I will do exactly what you recommended...