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James Lorimer
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Tool for Comps

James Lorimer
Pro Member
Posted Apr 11 2024, 12:18

Hi, I am new to Bigger Pockets and I am looking for my first single family long term rental deal. Is there a tool on BP to generate comps? 

Thanks in advance,

- Jim

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Mason Weiss
  • Realtor
  • Phoenix, AZ
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Mason Weiss
  • Realtor
  • Phoenix, AZ
Replied Apr 11 2024, 20:07

Hey James, there is a rent estimator under the tools section of the BP website. If you can't find it let me know. It is a good starting point if you are trying to build out rental comps in the area and then you want to dive into each property to see if they match the same criteria of your target property. 

Weiss Realty Logo

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Nathan M kiefer
  • Rental Property Investor
  • south carolina and michigan
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Nathan M kiefer
  • Rental Property Investor
  • south carolina and michigan
Replied Apr 12 2024, 02:23
Quote from @James Lorimer:

Hi, I am new to Bigger Pockets and I am looking for my first single family long term rental deal. Is there a tool on BP to generate comps? 

Thanks in advance,

- Jim

Great question, if you are referring to something similar to what realtors use via MLS I do not know of one on bigger pockets. That is a great question and I'm sure they exist somewhere. Hopefully one of the members can share but I am not aware of any.

i have tried to search sold houses on realtor app and Zillow but it's not in real time so it's almost useless.
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Corby Goade
Property Manager
  • Investor
  • Boise, ID
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Corby Goade
Property Manager
  • Investor
  • Boise, ID
Replied Apr 12 2024, 04:57

If you are new to investing, you definitely need help from a pro. There are way too many varibles and you'll either end up way off or get overwhelmed and become paralyzed. 

Use the BP agent finder tool and start networking with investor friendly agents. You'll find that most of them are happy to run comps for you and help you learn how to do that on your own as you go. 

Welcome and best of luck!

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Walter Moneypenny
  • Realtor
  • Phoenix
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Walter Moneypenny
  • Realtor
  • Phoenix
Replied Apr 20 2024, 06:31

@James Lorimer I agree with the previous replies. Reach out to a professional who is familiar with the area (like me). There are a lot of variables to take into account and a pro will know how to give you the best estimate of what the home will rent for, especially in different kinds of market environments.