A better approach to finding comps

[Stephen Barton]

So I just wanted to share a little of my experience with the BP community. I am doing wholesale deals in Indianapolis and I am always running comps literally on a daily basis. I have learned a very important aspect to determining values for properties. When you are looking in your 1/4 of a mile and within 6 mo parameters you should also look up (from tax records) what subdivision the subject property is located. I mean just 2 days ago I was looking up property values and if you just did the 1/4 mi radius the comps we like 30k. Then, when I used the subdivision as my only area for comps (I had to go back to a year to find enough) then I saw that this specific neighborhood has a completely different style and price of house. Like 2 times what the neighborhoods around the subject property's subdivision had.

This is something that my mentor has been showing me lately and I think it has been a revelation for me in estimating my offers on deals. Please just take this for what it is worth I am not an expert I simply just learn as I go and this is what works for me-better than just drawing a radius around my subject property. Hope this helps someone out there!