All Forum Posts by: Andrew Bravo

@Joe Villeneuve

Thank you Joe! One question though if no comps exist according to those requirements, do I just look at sales further back then just 2 months?

@Anna Laud

Hey Anna, thank you for your advice!

As you and Joe have mentioned I do believe that I made the mistake of thinking that the county site showed the FMV when in was only the assessment value for tax purposes. I will look for comps in the are to have a better understanding of what the FMV of the property actually is.

@Joe Splitrock

Thank you For clarifying Joe I believe you are correct I confused the tax or assessment value for the fair market value, I must do my due diligence to find out what the actual FMV is. Also I did account for all expenses not just the mortgage and the fact that this realtor and his partner are eager to offload this property is a red flag, I will make sure to triple check everything.

Hello fellow bigger pockets members, so i’ve been on the hunt for my first rental property for a few months now. I spoke with a real estate agent and he’s offered to sell me a duplex that he and a partner own for $150,000. My issue is that I’ve found out recently that the market value of the property is $76,000 according to my local county website. I feel like at 50% above market price I would be paying too much for the property. If the numbers work out for me should it matter?

@Bjorn Ahlblad thank you!

I’m a first time investor staring out and seeking to acquire my first rental property. Although I don’t know much about financing I’ve begun to do my research and I would just like some input from the bigger pockets community on financing thru a small local bank or a large national bank. Any info is very much appreciated!