General Real Estate Investing
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 17 years ago,
Determining The FMV of an Out-of-State Property
Through my website I was contacted by a landlord that wants to sell
his rental property. The numbers he has provided work, but before I
get too involved in the process I want to independently verify the FMV
and potential rental rate of the property. It is located in an area
that I am not familiar (The property is in the mid-west and I am in New Jersey).
My plan is to contact a local realtor, give them the property
particulars, ask them to do a drive by of the property and give me a
BPO. My questions for the group are these:
1- Do you have a better method for finding out this information than
what I have proposed?
2- What is a fair amount to pay the realtor for doing the BPO?
Thanks in advance -
Rich DeLuca