QUESTIONS

Rehabbing, Fix and Flip, Rental Properties
1

I JUST HAVE A FEW QUESTIONS:

ARE ZILLOW.COM’S “ZESTIMATES” PRETTY ACCURATE? IF NOT, IS THERE AN OTHER WEBSITE SIMULAR?

WHAT SHOULD I MAINLY PAY ATTENTION TO IN ZILLOW?

ACCORDING TO ZILLOW, THE PROPERTYS THAT I LOOKED AT HAD AT LEAST 17% OF HOMES IN THE AREA WITH LOWER VALUE THEN THE ONE I WAS LOOKING AT. IS THAT GOOD, BAD OR OK?

ANYTHING WILL HELP, THANK YOU AND GOD BLESS!

2

If you want to be a serious investor, forget the online comps. Go look at 100 or 200 houses that are for sale in your target area and then you will KNOW what houses are worth. Real estate investing is not a virtual internet business, but rather a real get-out-of-the-house hands on business.

Good Luck,

Mike

3

Mike is giving good advice. I wouldn’t trust “Zillow” as far as I could throw it…from what I’ve seen, it’s about as accurate as a tax appraisal!

Keith

4

Hi Joboxer,

Ditto on Mike’s and Keith’s comments. There is nothing like driving the 100-200 properties in your target market, then getting a lead on a property and you immediately know the value because you were there and saw it with your own eyes, touched it so to speak. I used to be an appraiser in Los Angeles and from there went into the investing end. Knowing the values in this way allows you to make faster deals at better prices and with fewer mistakes. Invaluable.

I seriously doubt if Zillow has field agents doing this in which case they’re miles behind the eightball.

Good advice guys.

Cate

5

THANKS GUYS FOR ALL YOUR ADVICE I WILL TAKE IT AND DO EXACTLY THAT.

                        HAPPY INVESTING AND GOD BLESS,
                                         JESSE
6

Yes, take zillow with a grain of salt. Its strictly a database firm using recent sales, tax assessed values and appreciation assumptions to estimate a homes value. I’ve found they overestimate values in my area of knowledge. Plus, since they have no boots on the ground they have no clue as to what the physical condition of a structure might be.

7

THANK YOU 71TR I APPRECIATE YOUR ADVICE.

8

I would also coordinate some of my time and effort working with realtors in addition to what was said above.

9

THANK YOU THETONY… WILL DO.