Some folks use comparables of per unit cost then evaluate from there.

This is done as if there were no lease involved at all and there is no longer any reason to compare rents and credits under any future appraisal.

The advantage of this is it is their job day in and out to qualify borrowers and if they have a positive track record your money is fairly safe with them, compared to you trying to do it yourself and getting taken.

Does anyone know of a reliable source to get comparable prices for my area where I will be investing in.

As for CA, I don't think they have much lagging inventory compared to its neighbor LV.

Joe O I read the forbes article and it is good to hear some optimistic statistics. "...When adjusted for inflation and compared to the market’s pre-bubble 1998 performance, Las Vegas home prices are — despite double-digit percent gains over the past year — still 20% below their pre-bubble healthy market norm....."

That seems to be targeted to homeowners who can't get traditional mortgages, whereas hard money is targeted to investors for either fix-and-flip or fix-and-refi.However, if you try to use this like hard money and pay it off in a year, it will cost you 28-34%(includes their 20-25% markup in re-selling the property to you, plus the 8%-9% note rate), whereas you can probably get a comparable amount of hard money for half that (inclusive of points).And chances are good that a HML will loan more, including a good portion of the the necessary rehab, than this comany.For an investor, this makes no sense.

The price points are just too high compared to rents.

However, their public website, wakegov.com, actually is very helpful as you can look up a property and hit the sales tab and see actual neighborhood sales in date order in a very nice format, year built, sqft, very easy to compare, although not as up-to-date as MLS as it seems to take a few months after sale for it to show there.

Out of the four properties I have been trying to pull comps on I only have one owner that is willing to give me a dollar amount the other three "have prices in mind but want to see what I'll offer"At this point I am thinking about just thanking them for their time apologizing and explaining I can't find any comparable prices in the area.