Real estate investors who learn to value properties themselves can bypass banks and agents instead of paying 6% commissions and mortgage interest. The speaker warns against calling homeowners directly or using contract assignments, which generate $10k-$50k fees. Mastering comps turns you from a consumer into someone who controls transactions.
Never, ever, ever call a homeowner directly to buy their house, because what you'll end up with is a property 20 to 30% below market value. The national association of Realtors that survives on 6% fees. Yeah, they're not going to like that. And please stay far away from assigning contracts, because what you'll get is a 10,000 to $50,000 assignment fee without ever using your own money or qualifying for a bank loan. The banks that make billions off mortgage interest won't be happy about that. The system wants you dependent on loans and agents, so they hate this and whatever. Never learn how to comp properties yourself, because once you can accurately determine what a house is worth, you don't need to pay anyone to tell you. You become dangerous. You stop being a consumer and start being the one who controls the transaction. That's wholesaling. The system doesn't want you to know this exists.
