My name is Marcus and I'm just starting out with Real Estate Investing. What are some good ways to determine the ARV of a property if I'm not a Real Estate Agent? I'm located here in Orlando, Florida. Thanks!
@Marcus Tanner welcome to the game of REI.
There are a ton of posts on this and a few blog posts on ARV. Just go to the search button in the top right and type in after repair value or ARV. Should have a lot come up.
With that said... It's going to depend of what you're talking about. Are you flipping? Planning to buy and hold?
An SFH would be valued off of the comps in your area. Something like a multifamily (under 4 units) would be also be valued off of the comps, but most banks take into account the cash flow while valuing a property.
@Marcus Tanner , welcome to BP! You're in the right place. To start, I'd recommend checking out J Scott's books on flipping houses and estimating rehab costs. As for estimating ARV for someone who does not have access to the MLS, you can make some good estimations by looking at comparable sales using Zillow and property tax records. I'm not telling you to use the "Zestimate". I'm telling you to look at comparable sale history using Zillow and property tax records. If you're a first time flipper, I recommend getting your cash/private money/hard money financing arranged first and then find a willing agent to shepherd you through the acquisition and ARV estimation.
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