All Forum Posts by: Andrey Budu

@Eric Johnson haha, perhaps.. I use Zillow only to look at recently sold comps (that couldn't be a different number in other sources) or rental comps. But definitely have to get MLS data to get my numbers right.

@Jonathan Curcio thanks for the advice and suggestions. The seller never came back to me with more data that I’ve requested so it’s a pass already.

@Jonathan Curcio thank you for your input. It makes sense, I knew it's not good to rely solely on Zillow but those numbers you brought up are sobering. So as a broker, do you get your comps strictly from MLS? Also what's your take on property being described in Zillow as SFH and actually being a 2fam.. is that common?

@Lydia T. Great points, thanks. And I will totally start networking with more and more realtors in my area. Really feeling the pain not having access to MLS in NJ.

@Lydia T. thank you that's very insightful. If I get an ARV estimate from 1or 2other agents in the area and I still see a 100k underpriced, would you pursue that? The agent confirmed that the owner wants $300k , on the other hand I can't help but think that they are trying to get rid of the property for some other reason

@Allan Szlafrok got it, thanks for clarifying.

@Matthew Paul thanks for sharing this with me. Great to know those details. Will NOT be using a false document

@Steven McCutcheon thanks for the advice, by Flip I really meant to say a wholesale. What’ do you think is my best way to calculate the approximate value of a house besides Zillow recently sold and Zestimate?

@Brian Pulaski thanks for your take on it. The property isn't listed yet "off market" as of now. I was thinking to put 10-15K on top and try to find a buyer for it. I've reasoned since Zillow has it at $450k as a single fam so it's got to cost a bit more or at least same being a legal 2fam(I saw the electrical meters) . And it should look good for a buy and hold, it also brings about $500/mo after PITI.

@Kyle Shankin Thanks for the feedback. I used mainly Zillow to check for recently sold homes in same neighborhood and honestly the prices are all over the place.. for similar or somewhat similar homes. A lot of renovated homes as well which is why this seller is renting a bit under market prices.