Determining an ARV on a property

[Ellis Fairley]

Hello Bigger Pockets! I'm somewhat new to the investor world and eager to learn as much as possible. My question is, what are some ways you guys determine an ARV on a property? I'm aware of using realtor sites like Zillow and Trulia to make comps, but wanted to see if there were any other ways. I know that these sites aren't a 100% but a rough estimation. I've also heard of looking up the tax appraisal but I'm not too sure on how to calculate the data from it. Any help would be greatly appreciated! Thank you in advance!

[Brian Garrett]

The best and most accurate way is to have a realtor pull comps for you.

The next best way is to look up recent sales on Realtor.com, Redfin, Zillow, etc.

Make sure you look for properties that are similar in size, condition, location ,etc.

You want the properties you're using as comps to be as similar to your property as possible.

The best comps to use will be the CLOSED sales within the past 12 months.