Any Advice On Running Comps Without MLS??

Question

Hello!

I am new to the wholesale scene and I'm trying to learn as much as I possibly can. I'm starting off in the Houston market. I was hoping someone could give me any advice or some jewels on running comps without MLS access? Anything helpful would be greatly appreciated, I’m all ears!!

Thanks In Advance!!

Account Closed · Answer

The best way is to build a relationship with a local realtor who will sit with you and establish rules of what to look for when doing comps for you.

If they know you are serious, and they are too, then they should be happy to help you. You should find a good one upfront anyway, that way if you get the deal (even if no realtor is involved on their side) they can watch the rehab/remodel and be well informed when it comes time for them to list/sell/rent your property.

Ryan Chlebek · Answer

@Shahriar Khan

Agreed that Zestimate and Redfin Estimates are usually way off for TX.  However, you can do your own analysis on Zillow by filtering for only Sold properties, and you can even narrow it down by sqft, year built, and you can go back as far as 3 years.

Of course this would be a last case scenario, as I would use MLS first, and then Propelio.  But for outside of market properties, this is the method I use.

Steve Rozenberg · Answer

@Edward Emerson

You can go to my website and click on find property. You can get a deep dive on a property from here and it’s free

Shahriar Khan · Answer

@Edward Emerson try finding someone who can work with you on your MLS access.

Redfin and Zillow will be almost garbage in Texas Comps since Texas is NOT a disclosure state and their ARV calculation has a huge margin of error. For disclosure states , they work great , within +/-3% accuracy .

Kenneth Garrett · Answer

@Edward Emerson

I use Redfin and Zillow solds to calculate ARV.  There is enough information there to provide an accurate estimate.  They will provide you 95% of the same info as the MLS.

Good Luck.

Edward Emerson · Answer

@PJ Singh

Thanks!

PJ Singh · Answer

@Edward Emerson

In Houston area, you can use redfin.com. not sure how often they update,  but you I'll get sold comps. Download to excel. Goodluck