All Forum Posts by: Josh Mac

They can be close. Can be.....but they are bogus too. If you lower your price, their comps will drop automatically. Just because you chose to adjust your price doesn't mean it's immediately worth less. So their algorithm is skewed, but is sometimes really close. True comps are better.

Realtor.com uses 2 different algorithms that are usually lower than Zillow.

It depends. They are close if there are good MLS comps in the area or good Zillow rental comps. When doing rental comps, I use the MLS, Zillow, Rent.com, Conrex, Evernest, and about ten other property manager websites that are local brokerages and manage over 100 homes. Usually, I can tell more from the local property managers than anything. If I see a few homes listed for rent in the area, I know I want to be at or cheaper than them or have a nicer home. I would make you a list of sites for quick use. Here is what I use in the Jackson, MS, area.

Rental Comps 

We're still starting but my wife and I found a duplex and started househacking. Hopefully looking for a few more to hopefully cashflow. 

 welcome !

@Josh Mac-  get a  free loan pre approval in place for a simple scenario ...this will  allow you to begin getting  educated /  organized and  will lead to many more  questions 

Not sure if my situation is relevant to your post, because I'm on the mortgage side. But I started the DSCR brokering stuff by accident, truthfully. I found it on Google, thought it was a scam but figured I'd try it anyways for a few months. Closed my first 2 deals 2 months in and then I became obsessed. 3 Full years later and I have 261 closings, totaling $61 million.

One deal at a time should always be the focus. Can't look too far ahead.

Just started last year. I utilized the pandemic to make HCOL wages in a LCOL area and am trying to take the delta and put it into something which generates cash flow because my retirement is essentially fully funded. Bought a turnkey single family off MLS. Did turnover work by myself, which took way longer than I anticipated (due in large portion to family obligations) and got it rented. In the process of closing property number 2. This one needs a little more work so I'll need to pay for some outside help (and to keep holding costs down). The houses are close to zero cash flow after accounting for expenses, but they are desirable areas. I'll probably start looking for property number 3 next year (unless a deal falls in my lap)

@Josh Mac

Great question. Everyone pitches FAST, EASY, NO MONEY..... but that's just not reality for most. 

House hacking is the BEST way to get started IMO (I'm bias, however). I've done it twice in Reno, NV and it's changed my life. 

I rented by the room and lived with college students for multiple years out of college. 

It was not fast, not easy, not fun (at all), and required significant capital. RE is a long term game. Have an end goal in mind and make logical decisions to get there. 

Having paid off RE eventually cash flows quite nicely :)