Trouble Finding Comps in Dallas and Fort Worth

[Brandon Smith]

Hi, Is there anyone that can help me run a realistic comp in Dallas, TX and Fort Worth, TX.  I am new at flipping (I am typically a buy and hold guy) But I decided to get my feet wet.  I purchased 2 homes one in Dallas and one in Fort Worth…The wholesaler gave me their comps but I dont really trust wholesalers.  I just need a realistic idea of what im working with.

Please dont tear me  a new one lol…I will provide anymore details needed to anyone that can help me.

Property 1: (Area Code 75241)

1365 sqft

4 bedroom (Converted Garage)

2 Bath

Completely updated

Property 2: (Area Code 76104)

1797 sqft

3 bedroom 

2 Bath

Completely updated

[Andrew Postell]

@Brandon Smith keep in mind that sold values (comps) are private here.  Maybe you knew that.  But being able to calculate the value is critical to your success if you are flipping. Now, you can certainly lean on a realtor for a little while...but by the time you ask to run comps the 50th time they will get tired of doing it for you.  So, while you might be able to get one done now from a realtor you know...you still need to be able to do it on your own.

Propelio is a good website that we use locally to run comps.  Be advised, that only solves the issue of getting comps.  You will still need the skillset of knowing which properties are better comps than others.  Or, if you don't have any comps...what do you do?  Both of those skills are also really important here.

I would highly suggest getting connected with some real estate investor groups here locally. Most of them will provide classes on this topic - some of them free. And then you'll need to continually sharpen this skill as you progress in your career. Or, have someone who works for you that will be able to do it for you 100 times per year (and maybe more). Meetup.com is a good resource for REI groups but some of the groups will also post here on Bigger Pockets Marketplace too. Even facebook might have some good local groups for you.

Hope all of this makes sense.