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Updated about 8 years ago,

User Stats

6
Posts
4
Votes
Rick Rozela
  • Breckenridge, TX
4
Votes |
6
Posts

1st Deal Need Help With Comps (RedFin.com)

Rick Rozela
  • Breckenridge, TX
Posted

Hello, My name is Rick and I have always wanted to be a real estate investor and this year I decided to take MASSIVE ACTION and go for it. I had set my Q1 2017 goal to purchase my first ever rental property. I found a property and submitted the offer and it was accepted. 

Purchase Price $27,500

With Seller 2nd of $5,500 (20%) down payment

Purchase price of $22,000 (CASH TO SELLER)

Seller will forgive/Cancel the seller 2nd @ closing

instant 20% equity in the property

The seller nor I have an agent. I am trying to find good comp sales. Zillow shows property value @ +$50k (I think is redicoulsy high) & this morning I came accross RedFin.com and it has the value @ $37,958 which I think is more accurate.

My question is has anyone used RedFin.com for comps and has it been accurate in doing so?

Thanks in advance!   

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