Detailed Training on using the ARV Calculator and Comparable Sales Tool to Determine After Repair Value and Calculate Your Offers for Any Real Estate Deal!
Everything you do in real estate hinges on you being able to make an accurate offer. But how do you know what to offer? It starts with After Repair Value. Accurately determining that is CRUCIAL! But how do you get an accurate ARV? It's by getting accurate comparable sales and filtering them to make sure you're only looking at the most relevant properties! This video will show you how to do that to make sure your house flipping, wholesaling, or any other real estate investment business is built on a solid foundation.
Step 1: Get Accurate, Valid, Recent Comparable Sales with Rehab Valuator Premium
Step 2: Use the Rehab Valuator ARV Calculator to Determine After-Repair-Value
Step 3: Use the Rehab Valuator Max Offer Calculator To Determine the Right Offer!
SHORTER COMPS TUTORIAL:
Detailed Training Video on Using Comparable Sales and ARV Calculator:
Getting Reliable Comps and ARV - Yours at a Snap of a Finger!
Step 1: Enter the correct address for subject property in the Info Tab!
For Bonus Points, enter the correct square feet also! You'll need that to calculate projected After-Repair Value!
Step 2: Click on 'Comparables' or 'Calculate ARV to Generate Instant Comparable Sales!
Both options will lead you to the same screen, which is where 25 of the best available comparable sales for your subject property will be displayed. (See screenshot below)
Step 3: 25 Best Comparable Sales Displayed Instantly!
Rehab Valuator Premium will pull comparable sales (where available) from actual sold data in Public Records. Our algorithm will then filter and sort all available comps in the background by size and relevance and will give you the 25 best comps available, which you'll then need to filter further to arrive at your ARV (see step 4 below!)
Step 3a: All Your Comps on a Map!
All available Comparable Sales are also mapped for you and color-coded based on data source. You can hover your mouse over each comp to see more info!
Step 4: Sort and Filter Your Comps to Narrow Down to the most Relevant!
New easy to use filters allow you to narrow down your comps as tightly as you want. You can sort the entire comparable sales data set by any of the column headings to narrow down only the most relevant comps. As you start clicking the "checkboxes" to the right of each comp, the average stats and projected arv will change at the top to calculate based on only the comps you've selected!
The After-Repair-Calculator Calculator will only display a Projected ARV if you have entered a square ft figure for the subject property.
Step 5: Generate Reports
There are 2 reports you can generate. First is the "All Comps" report. You can generate this by clicking the "Print Comps" report at the bottom right corner. This is a stand-alone comparable sales report that will show all 25 comps including the checkboxes and the ARV calculation. You can save this as PDF and share it with anyone you wish.
Though we don't recommend you include this report in your formal presentations. Instead, see the next step!
Step 5a: Generate Reports
To include comps and the Comparable Sales report in your overall presentation to buyers or lenders, select up to 10 of the most relevant comps and click "Include in Presentation". This will transfer those 10 comps to the Presentation Tab.
NOTE ON NON-DISCLOSURE STATES:
Rehab Valuator now sources Comparable Sales from Public Records nationwide
Unfortunately there is a handful of states where disclosure of sales price is not required and is not a matter of public record. In these "non-disclosure" states, he only truly reliable source for comparable sales will be the local MLS service. Data you can obtain inside Rehab Valuator will be spotty at best.
The following states are non-disclosure states:
Idaho, Indiana, Kansas, Mississippi, Missouri, Montana, New Mexico, North Dakota, South Dakota, Texas, Utah, and Wyoming
So if you're doing business in one of these states, there are a few things to try:
- Search some online sites like Zillow and Realtor manually. More and more, real estate agents that have agreements with Zillow will upload sales data, even in non-disclosure states
- Your best bet will be to use a local real estate agent and get comps data from them. You can then manually upload your comps into the Rehab Valuator presentations and use them along with the rest of your marketing
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