The Best Way to Do an ARV Estimate in Reality?

[Sean Sullivan]

Hi Everyone! Just getting into the property space and continuing to do my homework as I wait out this period and prepare to jump into my first property using the BRRR method. I’m excited to get started and as I continue I will work to keep everyone posted on my progress so we can all collectively learn from my journey! I did have a few questions as it relates to determining ARV that I was hoping some of the established investors here could clear up fairly easily, any help would be greatly appreciated: -When it comes to determining ARV, how and when during the buying process do you specifically do that? To clarify, if you are looking at a property it is not like you can bring a ton of contractors through the property to do estimates before you put an offer in on it. Does that mean you just do your best at an ARV estimate using comps and get as close to you can to the “right” answer? -Does anyone have any good best practices when doing this?