Determining Comps

[Anthony Harris]

Hi All,

Looking for some advice from any experienced Investors out there. So, I got my first property locked up and I'm not sure if my numbers are too high when trying to find  my end investor. The comps I used are similar in sq.ft and have same beds and baths however they are Brick/Shingle and my property is Frame/Slate property type. Would that still be considered a comparable. I'm a Pittsburgh wholesaler by the way. Thanks! 

Based on the comps I have prop at 173k

3 highest sold comps are: 192,890..173,000, 154,900 all sold in March w/in .8 miles of my prop

Thanks,

[Devin Woods]

Anthony,

Just my input. But if your planning to sell this off to an investor, and it is renting for $1k/month. I don't think there's many investors out there that are going to pay more than $100k, in the Pitt market. And that might still be way too expensive. Even in your higher end neighborhoods, you can still get a 6 cap or better. To get an accurate cash flow, you'll have to consider many other expenses other than just taxes.