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You MUST know how to run comps on properties if you want to succeed in real estate investing. Without knowing how much a property is/will be worth, you won’t be able to tell whether or not it’s a deal worth buying. And in a housing market with low cash flow and few opportunities for investors, comping is even more crucial as value-add investing becomes the new norm.
Value-add investing is exactly what it sounds like. You buy a property, renovate it, increase the equity, hold it, or flip it for a profit. Once you’ve added value to your property, you can sell, refinance, or increase rents on it. But, you CAN’T buy a property for the value-add strategy unless you know whether your renovation will be worth it! In this video, Dave Meyer, VP of Data and Analytics at BiggerPockets, shares five rules for comping real estate that will give you the MOST accurate estimate for your property’s value.
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00:00 How Much is That House Worth? 01:13 5 Rules for Running Comps 07:53 Comping Rules of Thumb 09:50 ALWAYS Look for Value-Add
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By: BiggerPockets Title: How to Value ANY Property in ANY Market (Real Estate Comps) Sourced From: www.youtube.com/watch?v=u7CmHMRRpPM
