All Forum Posts by: Michael DeStefano

Welcome Carter from a fellow Texan! I think you'll like it here. Everyone is really supportive and help. Like one big family!

Awesome! Thanks for the responses!

Do any of you have a link to a good blog or article post about the steps to take when analyzing your comps? I've read a few, but I feel like they are a little broad in there explanations.

Thanks!!!

I just discovered it today, so i'm not sure how accurate it is. It will actually let you find a property and then you can manually adjust the comps if you'd like. So you can get the basic info on a property and then add or subtract them from the comp. Seems to work pretty well to me.

But that was mainly what I was wondering. I assumed that the house was worth what someone was willing to pay for it. If the comps are 20-30% higher I get a little confused as to why someone wouldn't list it that way. All things being equal of course. If the house is missing the roof then it would go for less of course.

Hey BP,

I just found a great resource called ReZamp.com. But I'm a little confused as to how a house can be valued at one price, but be selling for a different price. For instance the website lists a property at 174k, but says it's value is 243k. So I'm confused as to why the house would not be selling for that amount if that is what it is valued at. Could someone explain this to me?

BTW I checked out ReZamp. AMAZING resource for someone like me. You have all the info anyone might need on there. Two thumbs up from me.

Ok, so for a new investor would you suggest that strategy, or would you suggest trying to stick to a lower ARV percentage so there is more room for error?

If you don't mind me asking Justin what kind of criteria do you use when looking for a F&F?

With and ARV to cost like that you might be better flipping it. Looking at a 50-60k payday.

And I would be sure to include any expenses you can think of on the house in your monthly rent calcs. I'm pretty new here, but from what I've read its better to be conservative and only think you're going to make $100 and then find out you will make $300 then for the reverse to be true. Also assume your repair costs are going to be higher than expected. But it looks like a pretty good deal any ways.

Best of Luck!

@Kyle J.  I see. Is there a website that might tell me some of that info? Or could I just find what the state will let me charge on the state website?

Well from the numbers I've run off hand there is some cash flow to be had. A little on the lower end, but got to start somewhere. My goal is to move my families business towards real estate. Whether that is flipping, wholesale, commercial, renting. We have the tools and knowledge on how to turn a house into something people would like to live in, I'm just trying to gain the tools and knowledge to find the deals that will be worth our while. Glad to know I have so many people willing to help!