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Updated over 2 years ago on . Most recent reply
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Adding and subtracting from off the ARV
Hi BiggerPockets family. I'm trying to find comps for this one property, and all my comps that comes up are old houses that's not rehab sold in that area. These comps matches the property style,age,squarefootage, bedrooms and bathrooms. I was wondering how much to subtract off the arv for each comp that has a extra bedroom, bathroom or above or lower then my the square feet range? Please help me. I'm located in the Philadelphia PA area.
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Your best bet is to find an appraiser in your area and ask them.
Word to the wise, if you are having trouble finding comps in that area, that will add an element of risk to your purchase. The appraisal is more likely to change with a low number of comps. This can be particularly problematic if you are trying to BRRR and you'll need more comps later for another refi.