Secrets of Comparable Sales

In this module (33 of 46 in the Real Estate Investing Secrets course), you will learn:

• How do you know if you’re paying a good price for a property you’re buying (not too high)?

• How do you know if you’re getting a good price for a property you’re selling (not too low)?

• Why use comparable sales to determine a property’s value?

• What makes a property comparable?

• What are the most important factors for finding true comparable properties?

• How do you find comparable sales to use?

• How to use sold comparable sales and how to use active-for-sale properties when doing comps

• What range of square footage should you use for comparable sales?

• How do you deal with outliers?

• What should you use for proximity when determining comps?

• How do you compare properties of different types or styles?

• How do you deal with the age of a property for comps?

• Narrowing the net to come up with a handful of really good comps

• Addressing your current competition in actively listed, comparable properties

• Reconciling asking price versus sold price

• Why and when you might want to get access to the MLS

• A warning when you can’t find many comps

• What are the values of upgrades when comparing properties?

• What is so important about market-based adjustments?

• Stable markets versus changing markets: how far back should you go for sold comps?

• Comping income properties versus owner-occupant properties

• List of websites to get free comps from

• How accurate are automated valuations (like Zillow, Redfin, etc)?

• Determining value and comparable sales

• Walking through a property’s value on the free comp websites as an example

• A tool for plotting square footage versus price to determine your property value

• The importance of buyer’s eyes as the final step when determining price

• Plus, much, much more…

Secrets of Comparable Sales

Here are the slides from the presentation for your convenience…