WIP 594: Why You May Be Comping Yourself Out of Business - How to Comp a Property the RIGHT Way!

Wholesaling Inc with Brent Daniels

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

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

4.9 • 1.4K Ratings

🗓️ 4 January 2021

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

If you are new to wholesaling, it is likely that you’re still on the lookout for the right way to do comping. It is also highly likely that you’ve come across the blanket rule for comping, the ARV x 70% - repairs rule. In today’s show, Lauren Hardy sets the record straight on this blanket rule.

If you want to comp a property correctly, you can’t afford to miss today’s truly interesting episode. Rest assured, you’ll look at comping from a totally different perspective after tuning in. Lastly, if you want to find more deals and make more money, this is one episode you just can’t miss!

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Transcript

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0:00.0	You're listening to Wholeselling Inc. episode number 594.
0:05.0	If you follow those rules, you are going to end up offering way too low.
0:11.0	This is game-changing information information guaranteed to raise your real estate
0:15.1	wholesaling business with actionable steps you can take immediately to
0:18.9	navigate the ins and outs of wholesaling and start making money today.
0:23.0	Join us as we put our guests in the hot seat and dive deep to dissect their strategies for success to enable you to duplicate their results.
0:31.0	You're listening to Wholesailing Inc.
0:34.0	The only show dedicated to making you a fortune in wholesaling.
0:40.0	Hey, what's up everybody? This is Lauren Hardy and you are listening to the Wholesailing Inc.
0:44.8	podcast, the number one podcast on all things wholesaling. Today I am going to ruffle some feathers. I am going to teach you all why your method of offer pricing and copying out homes and coming out with a price to offer a seller is wrong.
1:06.7	You have been taught the wrong way, at least a lot of you guys have.
1:11.3	I see a rule floating around and it drives me nuts and the reason
1:17.0	this drives me insane is because I followed this rule, this blanket rule for a couple years.
1:27.0	And let me tell you, if I known what I know today
1:31.0	and what I'm going to tell you today on this episode. If I knew this
1:34.9	earlier I would be a lot richer I would have done a lot more deals. The rule
1:41.1	I'm talking about is the ARV times 70% minus repairs. I'm going to tell you why this rule is dumb. So keep listening.
1:53.8	I got inspired to do a solo rip on this subject
1:57.3	because I saw this image on Instagram floating around
2:02.2	and I looked at it and I go this is a huge disservice to people who are
2:08.9	just getting started in this business and don't understand offer pricing.
2:12.3	The image was it was a whiteboard and and the white board
	...

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