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All Forum Posts by: Natasha Hylton

Natasha Hylton has started 9 posts and replied 86 times.

Originally posted by Dell Schlabach:
An interesting conundrum, what I do if I am in a new area that is hard to comp, I find out who the two top agents in the area are selling similar houses, ask them to run comps and give me their opinion of value. Its been pretty reliable for me in a couple occasions.

If the comps are fuzzy but you have a retail agent who sells 50+ houses in the area in a year, they are the best people to trust on "gut value".

Anyone who sells a few I would be highly suspect, I have seen a couple wanna be rehabbers crash by getting vary bad ARV's from realtors.

@dell

I suppose that's a good idea because iim recently in a similiar situtation with a house in riverside that on redfin has 6 houses sold only in the area and still inaccurate because all the comps sold have 4 bedrooms and the house I found has more but no comps on redfin to compare.
Also how do you check the # DOM with the sold comps ? Thanks

Dylan Gelbard

Dylan, It sounds like you have the right attitude for this.
Brandon Turner provided you with great articles which I also read. Start there. I'm fairly new to the business too and I'm learning as I go. I atleast understood first the basics and I've met a rehabber who I bring deals to and she walks me through a bit on why the numbers work or don't work. So everyone is different . Continue reading the forum and gaining knowledge :)

Post: Realtor Charging for Comps?

Natasha HyltonPosted
  • Fontana, CA
  • Posts 98
  • Votes 1
Originally posted by Joel Owens:
I used to do BPO's years ago.I completed thousands of them over the years.

A BPO is not a CMA. A BPO from a mill is much closer to a full blown appraisal these days.

If you are asking the agent to look up a few solds,actives,and expired's and print out a one page form from the MLS then that does not take much time.

If you are wanting an interior evaluation with repair estimates and making adjustments for variations in comps to arrive at a more accurate number doing as-is versus arv analysis then that is more like a BPO.

In that case the agent should be compensated.

I recently met a realtor whose familiar with investing and also an appraiser / photgrapher. Since I'm in the learning stage of estimating repairs and to gain more practice, I was thinking I could send her a video tour of the house and she analyze each repair and I pay her $200 per closing for her time. But for Mls access, I was thinking of giving her leads I can't use in exchange.

Have you thought about cold door knocking? Cost effective marketing.
Since I have a lot of free time inbetween my full time job schedule, Ill be giving this a green light starting next week

Transition/growth areas aka metro
Jobs market
School district
No flood zones
Low crime rate

Karen Margrave

Thanks. I will email you the criteria. I just joined a free first time homebuyer's class and apartment assoc. I'm still seeking a real estate investor that's needs a non license assistant like myself. I emailed a few in my area.
Would you ask local law enforcement or property managers in regards of researching your market area for rent value, economics , job market etc?

@david - I learned my lesson. Beware

Karen Margrave

great. thanks karen. ill PM the criteria, etc or do you have an email i can send it to? i'm also looking into a book called "realty bluebook" for financial and tax in real estate and would like to possibly take an appraiser course to learn the basics

David Torres

thank you for thinking of little ol me..hehe*. I have already called one of those "real estate investor seeks students" and he told me he needs $500 firsthand unless its someone different, i'm open :)
I'm currently identifying the market in the inland empire and what areas/niches like Karen Margrave has stated in a previous post works . so i dont have an exact area persae but i'm sure Riverside county, ontario, upland ...

David Torres

Thanks. I am in the inland empire and heard about a REIA in Norco and Temecula so I'll be making my way to either group.

Karen Margrave
I am new to real estate investing and want to get into SFR rentals and will consider your advice. How would you go about asking a real estate agent to provide comps for you?

I would like to network with a local knowledgable investor that's familiar with rentals. I know being an apprentice may be a good idea and help take care of the day to day operations. Just seeking some guidance and dirrection