WIP 1072: Wholesaling Quicktip - 7 Steps to Comping Wholesale Properties

Wholesaling Inc with Brent Daniels

Find distressed properties for pennies on the dollar and turn them for huge profits!

Entrepreneurship, Houses, Make Money, News, Wholesaling, Wholesale Houses, Business News, Entrepreneur, Education, Cash Buyers, Real Estate, Business, How To, Real Estate Agent

4.9 • 1.4K Ratings

🗓️ 1 November 2022

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Let's face it, doing property comps (comparables) can be confusing and downright difficult to get right. Questions like "how do I know what this house is truly worth?" or "how can I get to a price that makes sense for the homeowner and still make a profit?" are why so many wholesalers struggle with home pricing.

Well, you’re in luck! Because in this episode, Brent Daniels will answer those questions for you...and he'll be giving you seven actionable steps to comp a property in the easiest way possible. If you enjoyed this episode and want to learn more, head over to Brent’s TTP Training Program where he gives you a complete real estate wholesaling blueprint, regardless of experience, so you can start doing consistent real estate deals, each and every month!

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Show notes:

(0:49) Beginning of today’s episode
(2:00) Brent breaks down the seven steps to comping
(2:07) Location: Start with the neighborhood first
(3:33) Timeline: Maximize the three-month rule for comps or sold properties
(4:09) Age: The floor plan of every property must be adjusted every fifteen years
(4:37) Size: Don’t forget the plus or minus 15% order
(5:24) Floor Plan: Floor plans matter so much; assess them!
(6:30) Condition of the Property: How much repair would you need to do?
(7:11) Potential: What would this property sell for?

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Resources:

Redfin
Zillow
Realtor.com
Check out Brent’s Youtube channel here
Want to learn more? Check out our TTP training program.
To speak with Brent or one of our other expert coaches call (281) 835-4201 or schedule your free "no obligation" discovery call here
Make sure to check out TTPdata.com and TTPInsider.com

Go to Wholesalingincgroup.com to become part of one of the fastest growing Facebook communities in the Wholesaling space.

Get all of your burning Wholesaling questions answered, gain access to JV partnerships, and connect with other "success minded" Rhinos in the community.

It's 100% free to join. The opportunities in this community are endless, what are you waiting for?

Transcript

Click on a timestamp to play from that location

0:00.0	You're listening to Whole Selling Inc. episode number 1072.
0:04.6	You want the most recent comparables and I'm telling you in this current market,
0:10.0	you want the comfort, the sole properties to be within three months.
0:15.9	All right? 90 days. You can even go one month if you're in a market that is rapidly decreasing in
0:23.8	the value, but go three months at a maximum in this market.
0:28.5	This is game-changing information guaranteed to raise your real estate wholesaling business
0:33.6	with actionable steps you can take immediately to navigate the ins and outs of wholesaling
0:38.6	and start making money today. Join us as we put our guests in the hot seat and dive deep
0:44.4	to dissect their strategies for success to enable you to duplicate their results.
0:49.2	You're listening to Whole Selling Inc. The only show dedicated to making you a fortune in wholesaling.
0:55.4	My name is Brent Daniels. Mr. TTP. Mr. Talk to people.
1:00.9	And I want to break down the seven steps to coming up with the value of any property.
1:06.0	This is critical if you are a real estate entrepreneur, a real estate investor,
1:11.3	because this helps you determine if the conversation you're having with a property owner
1:16.7	and the price that they want is this a deal or not a deal.
1:20.4	So let's break this down simply. Don't let this be overwhelming.
1:24.2	Yes, it takes some reps to be able to really feel confident in doing this,
1:29.2	but I'm going to show you what appraisers for banks use as their seven steps to come up with the value.
1:35.8	The reason this is important is because at the end of the line, whether or not this is an
1:41.9	ugly house right now or if it's in good shape, typically most properties get a loan on those
1:48.1	properties to be able to purchase it and they need to be appraised.
1:52.9	That is the bank's way of determining what the value of this property is because banks don't
	...

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