When your analyzing a subject property for key values and metrics in order to make a sound investment decision, your going to need to start with the raw comparable sales data. Although an official CMA (comparative market analysis) from a licensed Realtor is the preferred method and source of evaluation, there are many free and paid websites online that allow investors to reference "comps" online. I have a complied an on going and up to date list each year for my fellow investors.
Once you've determined your values you can then use your formulas to make offers to sellers and prepare presentations for clients like private lenders and buyers. I wish I had a list like this when I got started in real estate investing years ago. Keep in mind these websites can have up to 70% of what sales are available on your local MLS (multiple listing service) so the more sources you utilize and compile, the better.
Here is the list:
I wish I had a list like this when I got started in real estate investing years ago.
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- Randy, The REI Rockstar
In this week's REI Lick, Randy shows you how to use PDFFiller.com to upload and edit real estate contracts. The tool is free and allows the user to send contracts to other users for a signature right over the internet.
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This episode: REI Tools Finding Comps Using ZipRealty - Randy explains how to use this website to find comparable sales data. Great for all you real estate investors out there.
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