Wholesaling Deal or NO Deal? (Wholesale Real Estate)

TL;DR

Virtual wholesaler seeks help running comps on a probate property with varying valuations.

Transcript

okay i think we're on now everybody see me okay i got my stuff all turned upside down here what's going on guys it is friday and today we're talking about deal or no deal and we can make this into a game show or we can actually work on deals you guys are working on so um i'm gonna go in a very very short q a here and just a little bit teachable mom... Read More

Key Insights

• 🏃 Utilize online tools like PropStream and Zillow for running comps on properties, validating findings, and estimating accurate property values.
• 💄 Secure genuine insights on sellers' bottom numbers by making initial lowball offers, prompting transparent negotiations and avoiding overpaying.
• 🤝 Exercise caution and due diligence when dealing with probate properties, ensuring sellers have initiated the probate process to avoid legal issues.

Questions & Answers

Q: How can a virtual wholesaler establish fair property values remotely?

Utilize online tools like PropStream to run comps, validate with Zillow estimates, and factor in major renovations for accurate value assessment.

Q: How can a wholesaler engage with sellers to determine their true bottom number?

Approach negotiations by offering lower initial bids, prompting sellers to reveal fair pricing faster while avoiding overpaying for properties.

Q: How should a wholesaler navigate probate properties, especially when uncertainty exists around the probate process?

Probate properties present opportunities but require extra care due to legal complexities, ensuring sellers have initiated probate procedures to avoid any inheritance disputes.

Q: How can a wholesaler make effective offers on properties in competitive markets with diverse valuation ranges?

Strategic negotiation tactics, including prompt lowball offers, can help reveal sellers' true intentions and secure profitable deals even amidst valuation discrepancies.

Summary & Key Takeaways

• Virtual wholesaler needs assistance valuing a probate property with conflicting estimates.

• Motivated seller due to owner's passing, no probate process started.

• Population suits potential buyer pool. Offered $95k, seller opened listing at $120k.