Finding Comps when wholesaling

[Rashad Berry]

Can someone post a tutorial on how to find comps for off-market properties using FMLS?

[Bob Okenwa]

@Rashad Berry

When in doubt, always start with a Google or YouTube search. Secondly, become familiar with the search feature here on BP as this kind of question has been asked a million times.

Beyond that, find similar (close number of bedrooms, bathrooms, sq. ft., lot size) properties that have sold within the last 6 months that are located ideally within a 1/2 mile radius, up to 1 mile if necessary. Try not to cross any major roadways or freeways when searching for comps.

[Cameron Tope]

I agree with @Bob Okenwa. 

Shoot me a DM and I can send you a short video on how we pull comps. 

It's imperative you get pulling comps right. 

[James Wise]

Originally posted by @Rashad Berry:

Can someone post a tutorial on how to find comps for off-market properties using FMLS?

Best way to do comps is to get yourself MLS access. Nothing is comparable to the amount of data available for you when you've got MLS access.

[Jonathan Greene]

- Same amount of bedrooms

- Within a half bathroom either way.

- Closed in the past three months. If not enough, move out to six months.

- Open the map function and only check those within a quarter to a half-mile. If not enough, expand to a mile.

- Scan the list and then match the type of house. Ranches and splits don't sell like colonials. Organize to similar home structures or multi-unit layouts.

- Remove properties that don't match your property. Meaning if yours is a flip, find renovated homes or homes with high upkeep. If yours is old, but move-in possible, find those. If yours is a dump, find the REOs and other dumps to match.