Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: DeMarris Manns

DeMarris Manns has started 2 posts and replied 7 times.

Post: Calculating After Repair Value

DeMarris MannsPosted
  • Wholesaler
  • Memphis, TN
  • Posts 18
  • Votes 2
Originally posted by @Ben Grotte:

There are definitely different opinions on how to generalize what to do with comps but if you get actually comparable sales I think it is best to look at the lower end comps. It's a way to pad in extra money for your buyers and keep them getting there cut especially early on in your wholesaling career while your rehab costs may not be pin point accurate. Just a thought to stay conservative with your numbers....

 Great advice there....thanks!

Post: Best skip trace service?

DeMarris MannsPosted
  • Wholesaler
  • Memphis, TN
  • Posts 18
  • Votes 2

Anyone have pretty good success with a Skip Trace service? I recently tried Unlimited Skip Trace which is powered by www.findtheseller.com. I wasn't pleased at all with it. It's a product that came with the iFlip program (Cameron Dunlap). It gave me the same outdated information that I found when I Googled vacant home owners.

I have a list of about 30 vacant homes here in Memphis. I just drive and look for vacant homes. I'm having a hard time getting in contact with the home owners. Everything I find is old landline phone numbers and no recent addresses for the most part. Most people have cell phones nowadays. But those numbers are hard to come by. 

Post: Calculating After Repair Value

DeMarris MannsPosted
  • Wholesaler
  • Memphis, TN
  • Posts 18
  • Votes 2

Thats makes a lot of sense @Trey Oliver 

Post: Calculating After Repair Value

DeMarris MannsPosted
  • Wholesaler
  • Memphis, TN
  • Posts 18
  • Votes 2
Originally posted by @Dean Letfus:

@DeMarris Manns do you mean what % are wholesalers buying at or end investors?

We buy homes roughly at 50% of ARV and we are selling them at around 80% of ARV in terms of what banks would value them at.

 Cool thanks! 

Post: Calculating After Repair Value

DeMarris MannsPosted
  • Wholesaler
  • Memphis, TN
  • Posts 18
  • Votes 2

Roughly, what % of ARV are people buying in Memphis? (<--Are these type of questions prohibited on here?)

@Trey Oliver@Dean Letfus @Chris Clothier

Post: Calculating After Repair Value

DeMarris MannsPosted
  • Wholesaler
  • Memphis, TN
  • Posts 18
  • Votes 2

@Dean Letfus @Trey Oliver@J Scott @chris 

@Chris Clothier 

Thanks you all! Great info here! I've already made a couple of deals but I was going by the low end comp numbers. Maybe I got lucky.

Post: Calculating After Repair Value

DeMarris MannsPosted
  • Wholesaler
  • Memphis, TN
  • Posts 18
  • Votes 2

First, I'd like to say hello to everyone here at BP. I'm a wholesaler here in Memphis. This is an AMAZING forum, and I'm glad to be associated with it.

I don't want people to think I'm lazy and didn't search this topic before posting, because I did. I just didn't really get a clear answer from the previous threads. I've developed a relationship with a real estate agent and get comps from the MLS here in Memphis. So my with that being said here's my question:

Once I have my comps, how am I getting ARV from them? I watched a webinar that said take the average of 3-5 comps and that gives you the ARV. I've watched others that say take the 3 lowest and average. Others say take the three highest. So once I have the comps from the MLS, whats next?????