All Forum Posts by: Pedro Oliva

Im in Indiana which is a non-disclosure state to trying to find comps on some properties has been quite the issue. I have used many of the free sites like zillow, homesnap, realtor, and trulia with no success. This has been keeping me from getting started, for the simple fact that I am unable to determine an ARV let alone an offer on a property. Im curious as to what my options are for running comps in my state since it is a non disclosure?

well the main problem is that no recently sold listings come up making it very difficult to get a value on the property. What do you do in this case when comps do not show up?

So ive been doing trying to find comps for homes that Ive been randomly selecting or see that are fsbo, in order to practice how I would go about finding deals. I get the address and then use the apps, zillow, realtor.com, trulia, homesnap, and redfin although not available in my area. I do a search for sold homes with similar rooms/bath/sqft on the same street. This usually results in 1 or 2 homes within the last few years if im lucky. Zillow will come up with its 'zestimate' but have been told not to put too much weight into this. The 'zestimate' will also be double the value of sold homes in a different neighborhood, which makes me think that an investor has picked up the sold homes, no clue as to how to find this out for sure though. Im wondering if Im going about this the wrong way on finding comps, or if I should tweak my searches. Also came across the corelogics realquest service, would this service be worth using and be more reliable than the free resources? Thanks for any tips in advance!

So are reo properties mainly for buy hold and rehab investors?

Would you guys recommend to stay away from wholesaling REO properties till some experience is to be had? The reason I ask this is that from my understanding is that some banks have nonassignable contracts, thus need to be a bit creative to get this types of deals done. Please correct me if im wrong. Also this type of deals require proof of funds or pre-approval letter from private lender, which confuses me as to who would need to provide this the wholesaler or the buyer of the property? As a new wholesaler and a small network, private lenders would be somewhat hesistant to work with a new wholesaler I would imagine? This is from all of my understanding thus far and could be way off base, but would like help me understand this further.

Checked out property radar, seems to be limited to a few states. Looks good though.

Ive been doing my research on wholesaling last few weeks and now that Im learning, I have started to notice things in my area. One of those is that there is many bandit signs throughout the area and even some that advertise on the radio. Im just curious if an area could be saturated with wholesalers and thus the competition make it hard for a newcomer to come across good deals and be able to compete for these good deals?

Thanks for the replies, it looks like a really good system.

Im would like to know if anyone has heard of this guy and his course? His site sells both Steve Cooks and his own course for the same price ($497) over at flippinghomes. Ive heard some good things about Steve Cooks but hard to find any reviews on Peter Gauthier other than testimonials for his own youtube channel which I usually take those with a grain of salt. His course seems a bit more comprehensive than Steves which I have been leaning towards. Any input?