Fairly new to real estate investing. I want to know if anyone has heard of a software program that searches the MLS for properties for high equity based on comps. There is an r.e agent in my area who says he has this patented software. Just wondering if anyone knows of such a program(s).
It is doubtful that this RE agent has a patent on any software in that the U.S. Patent and Trademark Office doesn’t grant many patents for software. Software ususally has a copyright…
http://www.bitlaw.com/software-patent/history.html
Keith
Very tricky to do. The one thing that will get you is condition. Properties in nice condition will sell for something in worse. Comps don’t tell you the current condition of the property. You’ll end up looking at a lot of below average properties with this method.
All you really have to do is study a market enough and after a while you’ll know what’s a good deal and what’s not a good deal. It’s pretty straightforward actually, that’s how most people end up buying a house. Look at 10-20 properties, get a feel for the market, once you see something at a good price you’ll know and then you can jump on it.