I'm fairly new at wholesaling. I was told if I couldn't find a comp for a house, that I would need to use the assessed value from the tax assessors. This doesn't seem right to me because ARV is after repair value.
What are your thoughts on this?
And what would you do if you couldn't find a comp for your subject?
@Shronda Sledge Is this property in a rural area that is making it tough to comp or a unique structure to the market? Typically I will continue to expand my search until I find comparables similar to the property. If comps are located in other markets I will use value adjustments/explanation to verify distance expanded or justify outliers in specs.
Yes, this property is in a rural area. I initially thought of expanding it past the 1-2 mile radius. But I didn't know how far would be too far, I know location plays a major role in it.
I would go back in time 2 years before expanding out, but then I would keep doing that until I found comps.