How do I run comps on infill lot deals

Question

Hey I’m here today to learn how to efficiently run comps on infill lot deals. I’ve looked on YouTube and done my due diligence but I’m not confident with my numbers. I wanted to come to bigger pockets so you guys can shed some light and give me some insight to run comps more efficiently and effectively

Lydia R. · Answer

All you are doing is looking for other lots that have sold. The rules that apply to residential properties do not translate to vacant lots. Look for other lots that have sold in the last 12 months, but pay closer attention to the ones that have sold in the last 6 months. If there arent lots that are the same size as your subject then just calculate the sold $/sqft and use that to get an estimate on your lot value. It really is that simple.

Doug Smith · Answer

Well, I don't know what area you're in, so I can't really help much, but first of all, the property has to fit the neighborhood. Comps won't do you any good if you're doing urban infill on a while elephant. We have a real estate arm, so we have the MLS to use for comps, but something like Zillow works well in some cases. The best way to do it, however, is to find a competent real estate agent in the area that knows investors and construction to help provide you with your ARV. You can then back into the numbers from there. Good luck to you.