I’m new to this ordeal and have some very good resources at my disposal. So my problem is this. I am not sure what the norm is as far as getting comps. Would ZIP code in a small town be good? If not, what would be the most acceptable source? I have several properties that seem like great deals but have a few more general questions. I would appreciate ANY help - who knows, my leads may be your next pay check!
Thanks,
Mike
For getting comps, you need to get sales as close to your target property as possible. The same subdivision at least, and even better in the same section of the subdivision. Close to the same year,size, beds, baths, and style. Lot sizzes sometimes make a difference but not always. This should help you to get started. I try to go back only 6 months… but sometimes I have to go a year… but no further.
Being in Texas, and it being a non disclosure state makes getting comps a bit more difficult unless you are working with a good realtor, that is very investor friendly… so this is a must to most in this business.
Good luck in this new and exciting venture =)
Heather Zaal
As Heather stated, find yourself a good investor friendly realtor who’ll work with you and run comps for you.
You can find these realtors through word of mouth from other investors at your local REIA groups.
Hello Mike,
Make sure you take a drive out and look at the comp properties. What looks good on paper may look very different in person.
Good luck
Barry