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Updated over 1 year ago on . Most recent reply

Sol Naim's profile image
Sol Naim's profile image
Sol Naim
  • Member since Jul 12, 2023
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Sol Naim's profile image
Sol Naim's profile image
Sol Naim
  • Member since Jul 12, 2023
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Sol Naim
6
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20
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BRRRR - Buy, Rehab, Rent, Refinance, Repeat

Zestimate dropped dramatically after rental purchase

Sol Naim
Posted

Hey BP team. Have a question for you guys. I just recently closed on a rental property in LA where the zestimate was 660K (it sold for 640K last year in June) I managed to get the purchase price of 516K which I'm excited about as I'll have over 100K in equity however once we closed and it went into pending the zestimate on Zillow suddenly dropped to 535K! Do you think thats an accurate reflection? It was an off market sale and the house doesn't need much rehab at all! Just some mold remediation. Love to hear your input. Thank you!

  • Sol Naim
    • Los Angeles County, California
    2 Votes
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    Brian Jackson's profile image
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    Brian Jackson
    • Realtor
    • from Akron, Ohio
    • Member since Feb 8, 2023
    • Posts 56
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    Brian Jackson's profile image
    Brian Jackson's profile image
    Brian Jackson
    • Realtor
    • from Akron, Ohio
    • Member since Feb 8, 2023
    • Posts 56
    • Votes 40
    • Experience 4 Yrs
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    Brian Jackson
    • Realtor
    • Akron, OH
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    Brian Jackson
    • Realtor
    • Akron, OH
    Replied

    I would guess the Zestimate is a direct correlation to the price you just bought it for.

  • Brian Jackson
    • 10 Votes
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