Suggestions: Little to no comps in Albuquerque neighborhood.

[Ryan Zamora]

Hello all,

I have done my research, narrowed my search, and picked a neighborhood in Albuquerque. I even have 4 properties I am going to target by contacting the owners to see if they would interested in selling their property. I have an investor willing to put up the money for the purchase and rehab, it's just time to get to work. I have a realtor who I met with who brought me some comps. The problem is the last time houses similar to what I'm looking at sold in the area they were needing renovations. This neighborhood is also old and there are additions, casitas, and other construction added on that I am sure isn't permitted. Anyhow, here is my question. What should I be thinking when I don't have a comp to try to build my flip around? I am going to analyze each flip so that if I can't sell I can BRRRR it instead and get my investor the money back. I originally wanted to BRRRR in the beginning but I want to accumulate cash first. I want to make sure all the bases are covered. I'm going to call the owners of these houses next week.

Thanks in advance for your input!!!