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Harvey Gill has started 1 posts and replied 2 times.

Originally posted by @Jared Hottle:

Harvey,

There are a variety of factors at play, region will play a factor, age of property will play a factor, diminishing returns plays a factor (for instance going from 2nd to 3rd bedroom will be more valuable then 3rd going to 4th) To me the key to to a CMA is get as close of comp as you can when it comes to these factors (square footage, bedrooms, bathrooms, age, size of garage, size of yard) Once you start diverting too far it become a bit more of an art then a science.

Hey Jared,

Thanks for the reply. However, my question is trying to figure out how much an extra bedroom or squarefoot would cost? How would I get this number?

0 Votes

Hello I just finished the book on Rental Property investing by Brandon Turner. I've been watching a ton of videos on CMA's and I've been practicing as well and hopefully I will get a rental soon!

One question that has me a bit confused still - so for adjustments, where can I go to find these or how can I calculate these? For example if my comparable has one more bedroom, how can I calculate to find out how much 1 more bedroom would cost?

Side question- do you guys recommend manually doing CMA's or using an online CMA service?

Thanks!

-Harvey

0 Votes