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Updated almost 12 years ago on . Most recent reply

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Brian Kraft
  • Rental Property Investor
  • Denver, CO
16
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81
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Checking Condition of Comps?

Brian Kraft
  • Rental Property Investor
  • Denver, CO
Posted

Hello,

Been reading a bit around here recently, but my first post.

I'm in the process of educating myself on flipping. I'm poking around places like Redfin, Zillow, etc to look at recently solds, but I'm not seeing how I'm able to view the condition of the places. There's typically 1 exterior photo up and no other resources. I would guess true agent-access would provide what I'm looking for, but is that the only option for getting a true sense of the condition of sold properties?

Thanks!

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Jon Holdman#3 Real Estate Deal Analysis & Advice Contributor
  • Rental Property Investor
  • Mercer Island, WA
14,128
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22,059
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Jon Holdman#3 Real Estate Deal Analysis & Advice Contributor
  • Rental Property Investor
  • Mercer Island, WA
ModeratorReplied

Even an agent won't get you into sold comps. If you have MLS access you can read the listing for solds and get an idea of the condition. You can also look at its history. If you see it being sold twice in fairly quick succession and the second sale is significantly higher than the first its a fix and flip.

You can get an agent to show you the current listings. Go have a look at those. If you're serious about this business, then do this once a month or so and look at the new listings. Track these listings until they sell and now you know the condition of a sold property. Keep at this for some time and you'll get a really good understanding of values in your farm area.

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