Flipster vs generating your own deals

[Alexis Malan]

Hey everyone! I read a bigger pockets thread from a few years ago that says the property analyzing tool “Flipster” isn’t worth the money at all… what do you think?

Also if you don’t think it’s worth the money how do you find out what deals are? For example: if a house is listed for 120,000 how do you know if it’s a good deal to get it at that price? How do you know how much you can sell it for? Or how much the renovations will cost? I don’t know how to do this without a software like Flipster… any advice?

Thanks!

[Jerryll Noorden]

You should NEVER rely on a software to calculate your numbers. That is the biggest mistake you can make. 

Then lets talk about mistake #2. You should NEVER rely on ANYONE but yourself to calculate the numbers, because people make mistakes, and sadly (as long as I have not taken over this damn planet yet), people have opinions. Opinions is a bad bad thing. People confuse opinions with fact, and that is dangerous.

If an agent makes a mistake and gives you thw wrong number, it is your *** that goes bankrupt in the end of the day.

I see so many REI influencers talk about find out what you are good at and resource out what you are bad at.

Or the "not how but who" mentality. I SO call BS on that.

There are some things YOU need to simply become good at PERIOD!

Calculating your numbers is one (which include cost of repairs, as is value, ARV). The other one you just need to get good at is independent motivated seller lead generation.

You CAN NOT rely on anyone but you to get these done, or you will simply be winging things.

So to answer your question, how?

You just need to practice. You need to just do it. Find a dummy house, on zillow and do comps on your own, and verify your results with the recent purchase price of the house you are comping./ And you just practice.

As for lead generation, get a website find my Biggerpockets BPCON2021 talk on video and watch it beginning to end, and I promise you, you will crush it!