First step to wholesale, look up property value?

[Albert Vasquez]

Would like to start wholesaling, should my first step to look up the property value through county records?

[Alvin Sylvain]

County records have got nothing to do with "value". You want to look at comparables ("comps"), the prices that similar nearby properties sold for recently.

For example, the county records say my Dad's old house should be "valued" at around $30K or so. Yah, right, in Southern California. You can't find a phone booth for that price today, at least not one with indoor plumbing.

This county records "value" is based on its original sale date back in 1960-something, when my Dad bought it for about $20K-something. (Yah, I still own my Dad's old house. Thanks, Dad, rest in peace.) A similar property down the street sold for about $550K. So which number do you want? $30K? or $550K?