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Updated over 6 years ago on . Most recent reply

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Matt Brown
  • Rental Property Investor
  • Nolanville, TX
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How to comp in Texas?

Matt Brown
  • Rental Property Investor
  • Nolanville, TX
Posted

First off, I'm new to investing in texas. With it being a non-disclosure state, how do you get accurate comps for buy and holds? Is the zillow zestimate even close? 

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Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Lender
  • Fort Worth, TX
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Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Lender
  • Fort Worth, TX
Replied

@Matt Brown thanks for posting this here.  The zillow comp is not reliable enough to be counted on.  It COULD be right....but so can a broken clock twice a day.  Do not rely on zillow to give you reliable numbers.

There are several companies that will provide accurate numbers in major metro areas for a monthly fee.  You subscribe to them and they will provide you with the same data that realtor or appraiser would see (also very different than what is on zillow since you just see the "sold" price).  If you were looking in Dallas or Fort Worth I know 2 that do for our counties up here but down where you live there might not be any type of company that does it.  Having done this before you can ask a realtor to help you with it...but after doing it about 50 times they won't want to do it anymore.  Maybe you could work something out to give them a monthly amount for them to be on call with you?  Just not a lot of really good options in our state.

And just in case these two companies DO have references where you are here's the two that are used prominently up here:

  1. Propelio - https://www.propelio.com/ 
  2. Real Estate IQ - https://www.realestateiq.co/
  • Andrew Postell
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