How to determine a solid ARV in order to examine properties.

[Shane Seeley]

Hello BP Nation!! I have been running numbers on multiple properties around the Quad Cities area to become more efficient and comfortable with the process, as recommended on podcasts that I have listened to. 

One item that I seem to struggle with is getting a solid ARV to put into the calculations. I am looking for advise on how to come up with a solid ARV for these calculations. Thanks!!

[Henri Meli]

@Shane Seeley . Here is something that you can use to help you.

Use comps. You can get them off Zillow, Trulia, ... etc. Then you should also always get a second pair of eyes to check the numbers you came up with (let's say a real estate agent or preferably 2). 

Put all of it together and if you are close by the numbers, then you are good. If there is a large difference in numbers ... then you need to re-evaluate. 

If you have been doing it for the same location for some time, then you should have some of these numbers based on your experience. If you going into a completely new area, then you definitely need to start building that knowledge using the approach discussed above.