I'm training myself to analyze deals using Redfin and BiggerPockets calculators. I'm trying to learn how to calculate comps properly so I can calculate ARV more accurately. I know experience will help but is there a great resource for learning this skill set? Any redommendations?
I'd recommend looking up some youtube videos which can teach you how to estimate ARV. It's all about finding the right comps, not in finding many of them, you only need 3-5 comparables.
I use Redfin and Zillow mostly to calculate ARV. I buy distressed properties and fix them up and rent (BRRRR Strategy). When you become an expert in your market it becomes much easier.
I use bedrooms, baths, similar house style (hopefully same model), same neighborhood (careful of stretching across major streets as the values can change), use dollar per square foot to compare, SS appliances, granite countertops etc., and look at pictures of comparable houses. How does yours compare.
When I first started I created a spread sheet and it made things easier to follow. Knowing your market and focusing on a specific neighborhood or two will help. When I first started I was all over the place. I limited my geographic area and it became much more clear..
Wow. Thank you so much for your insight.