Find comps on BRRRR deal
I'm analyzing a single-family BRRRR deal and there are no comps I can find on the property for determining the ARV, because the property is so large compared to the other comps in the area. Anybody ever run into this before? How should I go about finding a comp so I can get a ballpark estimate on the ARV for the numbers? Thanks in advance!
Most Popular Reply
@Shaun Sanville, expand your search for comps. Open your search radius up to maybe as much as 3-4 miles if you need to, or look further back in time. Instead of looking at sales over the last 6 months or year, look 2-3 years back.
An appraiser will need to do the same thing because a 1200 sq ft house price may not scale up to a 3000 sq ft house price accurately even if they try to adjust for it.