Strategy For Finding ARV???

[Jason Ackerman]

I live in Alaska and real estate is expensive here, I want to know some strategies to find out the ARV so I can use the calculators more accurately. Im looking for my first investment property and want to start off on the right foot. HELP???

[Demetria Sanchez]

@Jason Ackerman

1. Find a few comps( at least 3-4) in your area that sold within the last 6 months - 1 year. (Base your comps on sq footage and other things such as , beds/bath, home style. Look for comps within the same neighborhood or .25 miles out)

2. Take the sold price of each comp and divide it by the amount of square footage. (Do this for each comp)

3. Add all the comps per square feet and divide them by the number of comps you have. Let’s say you have 3 comps and there price per square feet add them up and divide it by the number 3 (example :100+200+300 =600/3 = the average price per square feet 200)

4. Then you will multiply the average price per square feet times the square footage of the house you are looking to invest it. This will give you your ARV. I do wholesaling so I do this a lot when determining deals.