All Forum Posts by: Dexter M.

Thanks @Ryan Harthan for your input. I read the article and that makes a lot of sense. According to most of the responses I should not trust Zillow comps. As I think about most of all the comps I ran Zillow seems to be the less accurate of the all. Thanks again

Gotcha. I'm tracking. Thanks @Brie Schmidt I appreciate that useful info

Thanks @Stanley Okazaki I appreciate your advice and encouragement. I'll make sure I keep a eye on Zillow and Trulia tax accessed value vs property value

@Brie Schmidt thanks for jumping in. So if I understand you correctly if you were in my position you would rely heavy on realtor.com numbers as being closest to MLS and Redfin is a good fall back. Is this how you feel?

Ok @Todd Whiddon that makes some good sense. I'll make sure I put more focus on the subdivision in the future. I have defiantly thought about finding a investor friendly agent to help me pull comps. My concern with that is as a newbie investor I'm not sure what I could offer them in return. @Anna Watkins mentioned in her reply that access to GA MLS might be open to the public, is this true? Your reply was very helpful and YES I'm am very much so interest in a agent you might know that can help me on the southside. Thanks Todd and Anna for your insight!

Thanks @Karen Margrave for your speedy reply. Got it, I'll make sure I compare properties with similar if not identical traits and characteristics. I reached out to Todd so hopefully he'll get back to me. I figured MLS would be the most accurate. I want to find a investor friendly agent that might help me run numbers but I order for them to help I'm not sure what I could offer them in return.

Thanks @Mary B. for your speedy reply. Got it, I'll make sure I compare properties with similar if not identical traits and characteristics. I do have Realtor.com on my list but for some reason it wouldn't locate that house. 

So when you look up comps is realtor.com your end all be all?

Are there any other sites or methods you use?

Let me start off by saying I’m relatively new to this, so forgive me. Here’s where I stand…

I’m a newbie investor initially focused primarily in Wholesaling (I know… you heard that a million times). I have spent a good amount of time understanding and practicing all the different stages of Wholesaling. Thanks to hundreds if not thousands of Forum feeds, majority if not all of the Podcasts, and a few books I have grasped a good understanding of almost all the stages. Except one, COMPS! I have already started out Driving-for-Dollars but have yet to close on my first deal. The last stage I would like to get more familiar with before I send out my first Direct Mail Campaign is knowing a properties proper market value before I start negotiating with a motivated seller. I have to be able narrow down a ball park figure that I’m comfortable with before negotiating. And that’s where I’m stuck at.

Ok so being a newbie investor more times than not you don't have access to MLS and I don't. So until I get my license and get to that point I have to rely on the many online Comparable sites available. The problem I'm having is that each one seems to give me a completely different figure. I understand that I won't get the exact figure on each site but sometimes the numbers aren't even close. Below is a perfect example of what I mean (This house is not on the Market For Sale so for Privacy purposes I won't display the street number)

XXXX Wynfield Dr Jonesboro, Georgia 30238

XXXX Wynfield DrThis is a Single-Family Home located at XXXX Wynfield Drive, Jonesboro GA. XXXX Wynfield Dr has 3 beds, 2 baths, and approximately 1,770 square feet. The property was built in 2000. XXXX Wynfield Dr is in the 30238 ZIP code in Jonesboro, GA. The average list price for ZIP code 30238 is $106,223.

Zillow- $75,039 (Zestimate)

Eppraisal- $92,717*Market Value

Redfin- $63,900 Now Redfin has a Home Value Tool that lets you average four other similar properties recently sold within the neighborhood and that number is the average

Property Shark- $ 43,338 *Market Value

Trulia- $76,893 *Market Value

Now I plan on using the 70% Rule as much as I can when negotiating but here I have figures from $43k- $93k. That's a 50k difference. Am I using the wrong Comp Sites? Am I doing something wrong? Is there a more accurate way of finding home values without having MLS access? What would you do differently?

I need your help BP family any advice is better than none…

Let me start off by saying I’m relatively new to this, so forgive me. Here’s where I stand…

I’m a newbie investor initially focused primarily in Wholesaling (I know… you heard that a million times). I have spent a good amount of time understanding and practicing all the different stages of Wholesaling. Thanks to hundreds if not thousands of Forum feeds, majority if not all of the Podcasts, and a few books I have grasped a good understanding of almost all the stages. Except one, COMPS! I have already started out Driving-for-Dollars but have yet to close on my first deal. The last stage I would like to get more familiar with before I send out my first Direct Mail Campaign is knowing a properties proper market value before I start negotiating with a motivated seller. I have to be able narrow down a ball park figure that I’m comfortable with before negotiating. And that’s where I’m stuck at.

Ok so being a newbie investor more times than not you don't have access to MLS and I don't. So until I get my license and get to that point I have to rely on the many online Comparable sites available. The problem I'm having is that each one seems to give me a completely different figure. I understand that I won't get the exact figure on each site but sometimes the numbers aren't even close. Below is a perfect example of what I mean (This house is not on the Market For Sale so for Privacy purposes I won't display the street number)

XXXX Wynfield Dr Jonesboro, Georgia 30238

XXXX Wynfield DrThis is a Single-Family Home located at XXXX Wynfield Drive, Jonesboro GA. XXXX Wynfield Dr has 3 beds, 2 baths, and approximately 1,770 square feet. The property was built in 2000. XXXX Wynfield Dr is in the 30238 ZIP code in Jonesboro, GA. The average list price for ZIP code 30238 is $106,223.

Zillow- $75,039 (Zestimate)

Eppraisal- $92,717*Market Value

Redfin- $63,900 Now Redfin has a Home Value Tool that lets you average four other similar properties recently sold within the neighborhood and that number is the average

Property Shark- $ 43,338 *Market Value

Trulia- $76,893 *Market Value

Now I plan on using the 70% Rule as much as I can when negotiating but here I have figures from $43k- $93k. That's a 50k difference. Am I using the wrong Comp Sites? Am I doing something wrong? Is there a more accurate way of finding home values without having MLS access? What would you do differently?

I need your help BP family any advice is better than none…

Welcome @Katrina Prather to BP. Everything you could possibly wonder about Wholesaling is within the Forums. Just gotta search. I'm new to this as well so Good Luck to you!