Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
BRRRR - Buy, Rehab, Rent, Refinance, Repeat
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago on . Most recent reply

User Stats

36
Posts
11
Votes
PJ Boxel
  • Investor
  • Saint Louis
11
Votes |
36
Posts

Difference in est ARV between me and agent

PJ Boxel
  • Investor
  • Saint Louis
Posted

My agent just send me an off-market deal with the following data:
PP 53k
Reno 15k
ARV 92k

Of course, this would be an amazing deal in which all capital would be recovered. However, if I run my own CMA, my est ARV is 75k...

I checked the comps of my agent and there are properties included which sold 8-10 months ago or have a different number of bed/bath... 

Any advice on what to do? I know that comping is an art, as well science. However, these comps are so far apart from each other I am doubting whether this ARV is accurate.

Most Popular Reply

User Stats

7,926
Posts
6,317
Votes
Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Lender
  • Fort Worth, TX
6,317
Votes |
7,926
Posts
Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Lender
  • Fort Worth, TX
Replied

@PJ Boxel trust those instincts sir.  You are posting this for a reason.  Trust what you are saying to yourself. 

Also, related here is making sure you are getting the necessary training to be hyper accurate on your comps. I want your goal to be within 5% of your initial estimate when you flip or refinance.  Take every class you can on this subject.  Ask your title company if they give these classes.  Get connected with local real estate investor groups in your area and show up when they provide training on this subject.  Do everything you can to be REALLY accurate when estimating value.   It will help your career. 

Hope all of that makes sense.

  • Andrew Postell
  • Loading replies...