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Updated over 6 years ago,
Accessing Comp Sales Data on off Market Deals/Auction
Hi BP, I'm brand new to the property investing scene and have yet to make my first deal. I'm currently looking for single family, duplex and triplex properties for buy and hold. I have been analyzing many potential deals, but I always run into one problem during this process. Determining whether a property will be worth my time and money and will cash flow is dependent on a few numbers including the ARV of the property and the rent I will be able to charge, but finding these numbers has proven difficult. Zillow, Realtor, & Trulia are sometimes the only place I have to pull comps to roughly determine the market value of a home after renovations and what it will likely rent for. As I'm sure you can all agree this is far from ideal. I'm currently working with an agent who focuses on a few of the areas i intend on investing and am aware that I can contact her to pull comps on a deal. What happens if i find a deal off market though? It doesn't seem right to ask my agent to pull comps on a property she might not be able to make commission on. How do you more seasoned investors go about getting comparable sales data for a potential off market deal? I have the same issue when it comes to auction deals. If I am analyzing a property that is going to auction, but i need the comps should I ask my realtor? Can a realtor make any money on an auction deal?
Thanks!