Thanks to everyone for all the great information, I have been educating myself in REI for the past year or so, still in college, not a lot of cash on hand to invest, but I was wondering if someone could help me find fair market value of certain areas? Are there websites, should I talk to a realtor? Any suggestions, specifically I am in the Charlotte market. Thanks!
according to my rule of thumb,
if you can break even on the cashflow with 10% down thats a fairvalued market.
its actually more complex than that, but its gets really difficult to make any decision or find all the data. so for now, thats just it!
Ok, Thanks, I guess I am having trouble figuring out if something is a deal or not. I have seen alot of houses for sale but am not sure if they are under market value, ie. so if I buy under then I will sell to an investor or retail, so how do I go about seeing what surrounding houses would sell for in the market? Thanks!
There are a couple of ways to find fair market values or after repair values. The MLS is probably the most popular way. You would need to hook up with a realtor or broker to gain access to this. Go to yahoo or google and type in “comparable market value” or “comps” or “real estate value”. This should guide you to different services that specialize in market values. Hope this helped and good luck!!
Jared
Blue Star Homes, Inc.
Where can I find fair market value for rent?