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Updated almost 9 years ago on . Most recent reply

User Stats

47
Posts
20
Votes
Jeff Gebhart
  • Investor
  • Grand Rapids, MI
20
Votes |
47
Posts

Where do I find good comps?

Jeff Gebhart
  • Investor
  • Grand Rapids, MI
Posted

We are getting calls on potential properties to buy. Finding good comps is critical. Since we are not involving an agent, getting comps off from MLS isn't possible. Can I trust the "recently sold" on Zillow? Basically we take the ARV - rehab costs - holding costs to equal the Market Value of the house in present condition. Then we try to buy for 70% of market value. The markets we have been dealing in we are comfortable with Zillow and our own assessments as we know the market. However we are starting to get into areas that are out of our knowledge and need to get a better system of getting good comps. Thanks for any help!

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