Not using a realtor, how can I find comps to see if seller financed deals are good?

[Amy Solomon]

Hey everyone! I will have tons more questions coming regarding getting things off the ground. I am looking towards several forms of financing. One includes something I haven't seen talked about on these boards. Which is a seller financed flipped.

My goal is to offer a seller who may not be able to sell to a buyer with a conventional loan (or perhaps just hasn't been able to sell due to home's condition) a 6-9% interest rate, 0 points, 5% down, interest only payments with a balloon in 12 months.

MY question is, I won't be using a realtor to help me find these deals...(i think) so how can I find the true arv? I need to see comps on other homes, realtors.com doesn't allow me to do this (from what I know). What's your advice on how to thoroughly research, find comps and get a good arv so I can know if it's a good deal?

Thanks for your help!

[Jason Varney]

@Amy Solomon

Hey Amy. Like you said, the seller financed deals are out there if you are actively marketing to find them. I just put a duplex under contract with seller financing at 0%, no money down with a balloon after 7 years. These kind of deals are out there but are certainly not going to come running to you. There are motivated sellers in any market, good or bad.

I use listingbook.com for help with my comps. it is pretty similar to MLS and is pretty accurate. When buying my primary residence, our realtor even told us we could check listingbook as it gets updated just about as fast. With that said, there's not substitute for an actual cma from a realtor, but this is a great starting point to give you a general ballpark figure.