I have MLS listings from my Realtor - Now what?

Why can't you get comps when you're using multiple websites?..should be able to get something..you could also try asking a realtor for comps on the props that interest you. For rehab details a contractor will be helpful. Also, are you reading Dean's '30 Days to Real Estate Cash'?

Hi Heidi. Thanks for your response. Many of the comps I'm seeing don't have Sold prices listed, and in some cases there are no recently sold properties, sold in the last 90 days. I'm really not sure which properties to ask the Realtor since they all match the criteria I gave them. I suppose I could randomly pick a few. So, would the process be to get the comps, see a few of the properties, then make some offers?

Yes, I have read Dean's 30 days to cash book.

Getting good comps can be a challenge at times...going out, looking at properties, seeing what they're selling for gets you familiar with the current market..then you should feel more confident about making offers. Have you used www.findcompsnow.com ? I like it.

Heidi that is good advice I go to totalviewrealestate.com and get comps there, get your ARV then I would use if you are not a really hot market like So Cal or Miami not sure where you are, but I would use for rehab $10 for light rehab, $15 for medium needs a bit more than just carpet n paint and $20 for heavy rehabs, & I mean that dollar amount per sq ft of what the hm is.

What I do is find the ARV, then I minus 10% transactional costs for my buyers ie closing costs, realtor fees and holding costs, which is generally 10%, I minus that from the ARV, then my rehab, then my investor profit(find out what your buyers are looking for) then my wholesale profit then about 5k (in KC and 10k in So Cal) for negotiating room.

That is how I make offers, also on the listings just read the comments of the listings or the description and those that say "needs work" or "TLC" or "diamond in the rouugh" or "handyman special" make offers on those. Hope you have at least 20 buyers on your list, if not go get them first.

And if you have read 30 days to RE Cash, reread it cuz i know it talks more about this there, we have to always be refreshing our info going back and relearning what we have already learnt bc we forget it is human, so go back and reread the book making sure to do everthing it is tellin you to do ok

Thanks Tony! I'm also with ya bout re-reading 30 Days..it helps to keep me fresh and sometimes see familiar facts in a new way..

Put the addresses in Zillow. Ignore the zestimate. Scroll down the listing of the property on Zillow until you find comps - look at the solds nearby with similar characteristics. You can also use the map to the left of the listing when it first comes up. Look at the option tabs above the map and select only solds within the last 90 days to 6 months. Also select only houses (not condos, etc). You can get a good enough idea of the ARV this way. Rehab - figure 20K if in Midwest, 40-60 if on the coast, 15 if in the south. Good enough again to make offers