There are two majorly important numbers when analyzing a deal. Repairs and the ARV (After Repair Value). The ARV being a key number to ensure we don’t expect to sell for more then what the home is truly worth. So how do we cop a property and ensure we get the ARV correct? Tune in to this episode to find out.
There are some crucial factors you will want to ensure you pay attention to when looking at comps. They are
1. Location – No more then 1/4 mile away from the subject home
2. Size – Bed / Bath / Sqft is inside the ranges. No more then +/- 1 on bed and bath and within 20% on the Sqft.
3. Time – Comps should be within the last 6 months or sooner.
4. Condition – The comps should look like what you will make the subject home look like after rehab.
Follow these rules and you will become a sharpshooter with your ARV ‘s.
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