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Ruth Noles
  • Detroit, MI
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Determining true FMV and ARV? Fees?

Ruth Noles
  • Detroit, MI
Posted Jun 23 2016, 17:12

Just was thinking about if I should focus on homes that need major rehab, or little to none. Trying my luck at wholesaling, which of the two types of properties would you suggest? With that being said, how do you determine the fair market value without MLS? I know websites like Zillow and Trulia are not accurate, and the tax assessor's records are not accurate either (that is, if the property's records are even available to be publicly viewed). Is there a website or something that is accurate? Also, how do you determine ARV? How do you know if the market hasn't changed and the ARV is accurate? As far as the assignment fee goes, I think that making the sale is more important than the money. However, how do you determine how much of an assignment fee you should charge?

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