Flipping houses are challenging since the MLS is not open to the public. FlipComp turns this problem into an opportunity. For real estate investors to make money by flipping houses, they have to have access to deals. Those who are new to real estate investing want to operate with ease. The process of researching, analyzing, and evaluating properties using software is a desire of every investor. FlipComp is seeking to improve this and says that it can locate property opportunities for you so that you can concentrate on the purchase.
Flipping houses are challenging since the MLS is not open to the general public. FlipComp assures that this silliness will be put to bed.
Curt Ranta, an investor, and businessman with close to two decades in the RE sector, created FlipComp in 2011. The firm developed out of a tech dream. He needed something that might make the method of searching and evaluating houses easier and safer with the ability to make a profit. In 2014, Realeflow purchased the program. Greg Clement now manages FlipComp.
Our experience
We decided to use the site, and we found out that based on logic and algorithms, FlipComp is a pretty good resource for flipping houses. The software is structured to market the relevant property for you (so that you don’t need to waste time doing it yourself). However, not all real estate can be compared. That might be a problem for some flip buyers.
Consider this for example, I want to see both assets sell around a community so that I can get to learn the nuances of the local market. FlipComp holds all transactions around a comp. The primary reason being they do not want to guess what property you decide to use with your appraisal. We discovered that FlipComp was able to determine what assets are strong comps for our research.
We discovered that FlipComp automates the many repetitive activities that we, as investors have to do all the time. It has a feature called Deal Finder. The Deal Finder was created to evaluate new collections of properties. However, one drawback is that the Deal Finder classifies all properties as a potential deal.
The Advantages
FlipComp offers you MLS entries without needing to pay the MLS price or becoming a realtor. That can be a huge advantage. The great thing about FlipComp is you will locate discounted MLS listings from home without connection to a Realtor. You may use the filter to check for a certain percentage of the specified after-repair-value (ARV) properties. The results may not be as reliable as you want, but you can get discounted properties when searching for MLS listed properties.
The pricing
When looking at the pricing, two different product choices were available, the standard version and the Lite version. At the time of this writing, the standard version goes for $149. The site has a single package, but fast digging has given us a “hidden” offer involving FlipComp for a bundled price ($198) to access to the Realeflow Lite version.
Overall, FlipComp is a useful tool for researching and analyzing properties, Although, the comps might sometimes be awry and unreliable. This software helps find the best deals close to your location of interest.
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