Buying Below Market Value

[Seth Mosley]

I have read this term, for example, "buy it 30% below market value" or something similar a lot on BP.

My question to you all is, isn't market value relative to what people would sell it for anyway? So how do you know or determine that you are getting a deal at 30% market value, after all, market value is a bit up and down in real estate. Wouldn't the price you get it for technically be market value?

Is it based off the current comps? Or how do you figure this?

Thanks