All Forum Posts by: Terrence Smith

yes I do. I also think this will bust up long standing underdeveloped, underserved communities - with little to none of the gains going to those who currently reside there. But we'll see won't we.

I think you seeing it about right. Its not a wholesalers job to make sure the flipper or landlord investor is getting a money making deal. Its the flipper or the landlords job to do that, so if there is enough interest in the market and the wholesaler can find a pool of investors willing to pay more then what you or I would - so be it. As best I can tell, that formula will do fine as a rule of thumb, and you should adjust it based on who your buyers are and what it costs you to find the deals. 

@Hattie Dizmond@Richard Kerski

Thanks for the tips, they are useful. To followup on the question, is there any resources you find useful for making price adjustments in CMA's? For instance House A has a basement, House B doesn't - are their any technical tools, or regional guides to what the lack of that basement means for the relevant price adjustment to the comp or subject?

Richard - just to point out, I've taken your advice and am signing up for any and all CMA related training's provided by my MLS and Realtor Board organizations. Thanks.

@Wes Farmer

Found your thread researching the same passage in J's book. I'm a newb but I do have access to MLS. It took me a minute but I am able to demonstrate a clear variance between sale price of listings with distressed signals attached to them vs. listing without distressed signals.

I checked out Realtor.com and  Zillow to see how I might do the same on their sites. I suggest you make this a search for your real estate agent. Its really not difficult once you know what to ask/look for. Its a standard median sales price report with a few tweaks.  

First I set base criteria (residential detached, # of bed/bath, city, county)

Then in a field called "Special Circumstances" that has some recurring keywords listed as options, I select the keywords that suggest a distressed property. (corporate owned/fixer upper/foreclosure/gov't owned/HUD Listing/No Disclosures/Potential Short Sale/Short Sale Pre-approved/Sold AS-IS)

The report returns median sale price, by month over last year for all sold listings that match my base criteria and were flagged with one or more of those keywords in the Special Circumstances field.  

Then run the same report, but this time I select the "NOT" flag in the Special Circumstances field, which returns data only from listings that have NONE of those previous keywords. 

Then run it a third time with the Special Circumstances field removed all together. This report returns median sales price for all listing regardless of circumstances. 

Chop the data up in Excel and it comes out like this. 

Should take an agent, or an agents assistant 10-15 minutes to get this setup, and if they save it for future use, even less time. I'll be running the same reports across a number of target cities. 

@Jeffrey Hayes

Have you checked out the House Flipping Spreadsheet in the BP File Place? Just came across it tonight searching BP for similar info. 

File place has a demo version, looks like its a product being sold online.

Hello, 

Planning rehab of an older home (built 1972) on a full basement with sagging floors on both main and second level. Would like referral for proven residential structural engineer to inspect home and provide recommendations on remediation. 

PM me with details. 

Thanks. 

@Evans Marcie

Hi Evans - I'm a member of GAREIA and I know Bill Cook and his wife Kim have a (or had) a North Georgia REIA they setup. Their website says its in Cartersville. I've never been to their meeting, but I've met Bill at the Atlanta meetings several times and I think he's a solid guy to associate with. I'll PM you the link to their site. Good luck!

@Anna RyderHi Anna- welcome to BP, good luck with your investing.

@Wendell De Guzman Hi Wendell - I'm a few days late to this thread, but if there is still an opportunity for funding here, please PM me and let me know how I can get more details. Thanks. 

@Genise Edwards

good post - thanks. 

What are some of your other go to data sources for the Atlanta region?