I'm having trouble figuring out how to determine an estimated ARV for a property based on sold comps. When I compare the comps to the subject property, I feel like I'm working backwards (i.e. bringing the comps down the subject level instead of bringing the subject up to the comps). Is this the right approach for determining ARV or should I be basing more on just Sell Price/SF?
@Kevin Hassold what I do is take the square footage and look for houses that have sold as close to my subject property as possible in the last six months. I use only square footage because I can add room to reach that similar comp. then I use the flip calculator to put everything else is. You can also do it manually.
No the property and comps are fine. I'm just confused as to how I am supposed to apply the info to arrive at an ARV. When I compare the rehabbed comps to my fixer upper subject home, I'm bringing the comps down but that doesn't achieve what I am trying to do.
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