How to Comp Properties Without MLS Access (ARV & NOVATION Calculator Included)

All right guys, in this video I'm going to show you exactly how to comp properties. I'm even going to show you how to comp properties in non disclosure states and I'm also going to show you exactly how to know what to offer those properties. So we're going to go over novation and we're going to go over wholesale right now. So let's get into it. So first we're going to start in a disclosure state. So this is Tennessee. I actually live here. So the big thing here is we're going to be able to see what property sold for in non disclosure states. You're not going to be able to see what they sold for, but I'm going to show you a hack that I use in order to be able to just kind of get a guesstimate of what it sold for. Okay, so first things first. We're going to look for a property to comp. We're going to look for something that isn't in that good condition that we can use ARV on. We're going to look for something that we can use that is that we can use ARV and ovation on. So something that's outdated but not like in really bad condition. So we're going to put maximum 200,000 and we're also going to put like three bedrooms plus. Okay, so let's look for something that is not in excellent condition. This is in really bad condition. I believe that's in Kodak. Yeah. Let's find a property we can use for comp that's in pretty good condition. I'm trying to find one that would make sense for us to use that's in good condition. Okay, now this is a good one. This is a good one. This one is not ARV quite yet, but it's getting a little bit closer. Right. So what you would do, say this was your, this was your subject property. First of all we would need to find what this property would be be worth fully fixed up. So how we would do that is you would copy this address or if you have an address of a different property would put it there. So you would just copy and paste it here. And what that will do. The reason we re put it in is because it's center. The, the reason we put it in is because it centers on the map. And our goal is to get it centered on the maps. We all we have to do is press plus and minus so we know it's a three bed, one bath, 1120 square feet. So what I would actually do here is I'm going to open a new tab. The reason I open a new tab so I can go back and look like year built so I don't forget. So it's a three bed, one bath, 1120 square feet. So we're going to put exact match three bedroom. We're going to take up to off. We're just going to put no max, see any price and then we're going to take from for sale to sold. Now we know this home's a 3 one and it's 1100 and something square feet. So we're going to put our maximum at 1250 and our minimum at 1000. So we're going to try and stay within that range for one. And then we also know it was built within at 1940. So I would put 1960 max. You can do 20 years plus or minus. So 1920 to 1960. So now we have all the properties that have sold with that kind of criteria. Another thing we're going to add here is that we're going to try and have these properties sold in the last 90 days. Now this may not be realistic, especially, especially because this is, there's nothing that's sold here in this, in this area in the last 90 days. So ideally you want to be as close as possible. So we're going to pull this six months back. Okay. So this home within the past six months it is in okay condition as is. So what was this? This home is a little bit smaller, it's on a little bit less of a lot. But it's in similar condition on the interior. As you can see it's in good condition but not great by any means on the interior. And this sold earlier this year for $185,000. Now and it's also built earlier than ours. So what I would go do is we know ours is listed for 194, right? And it's, it hasn't sold yet. But of course we'd probably be doing this off market. So since this one's a perfect comparable and it's as is condition, what would we put as the current market value for innovation? We would put 185 as the current market value. So how we would do that we would come over here to our closer calculator. If you guys want access to this calculator it usually costs 97 but I'm going to be a really nice guy and I'm going to give it to you below for free. So don't tell that many people that. But yeah, I'M going to give this to you guys below for free. So we know that it's going to be. It's going to sell for roughly $185,000 on the market. Right. No repairs here. Okay. And our desired profit is a minimum of $20,000. So we'd be able to list this property at 177, 600 to get it sold extremely quickly. And then here are all of our novation offers. So these offers, these offer structures, how we go about them is this is still like a wholesale price. We have to anchor them a little bit lower. We work our way up through these offers, and our maximum offer is $149,345. So that is for as is value, meaning what the property could sell for on the market in its current condition. Now, things change. Things change when it becomes arv. So now let's see what fully renovated homes are selling for in this area when it comes to. When it comes to three bed, one bath. So we know those were similar condition. That's why it's as is value. But now we're going to be looking for something that is completely renovated. See what this one sold for. So was this one. Let's see if it was. I know they took the pictures off. Last sold in June 2025. It was sold on the public record. We'll see. I don't know if that one was completely renovated or not. Now, guys, of course we want to keep it in as close a proximity as possible. This one's a little, a little bit rural. So we have to take our, our, our eyes a little bit. Right. This is going to be our closest comp. It's 275,000. But it does have an extra bathroom. So it's built in the exact same year. It's fully renovated, but it does have an extra bathroom. It's even, it's even built very similar, but the lot is a lot smaller. Okay. So here, my honest opinion is that we know that this property sold for 275. You're probably going to want to take like a 20k price cut on this. The reason being is if we take a 20k price cut, it's definitely going to account for that bathroom because we also have that extra acreage here. So what I'm going to do is I'm actually going to take $20,000 off this price because we don't have that many comps in this. In this vicinity. And it has an extra bathroom. So we're going to do 255,000 ARV. Now we're going to go back to our original home. We're going to go back to our original home here. We. We need to determine what it needs. So in order to get an arv, it's going to need all new siding. It's going to definitely need painted. It doesn't look like the roof looks to be in pretty good condition. It's going to need new trim. That doesn't look too bad. It's going to need a new kitchen. So it needs. It needs a new kitchen for sure. So that's one big thing needs done. The whole entire dining room needs redone. So that's another thing. Let's see. And then the bedrooms, there's paneling, the bathrooms aren't in horrible condition. That's a light rehab. However, this is gonna. Let me tell you why. So this is probably going to be like a medium rehab because it's currently livable, but it needs all cosmetic upgrades and a kitchen. When you get into heavy rehabs, you got to have. You're going to have to do roof and you're going to have to do like two or three big ticket items like roof H VAC and maybe plumbing. Right. A full gut is like where you take out everything in the house, which is like all the walls come down. The roof has to be redone, all the electrical has to be redone, all the plumbing has to be redone. That's a full gut and then immediate. Like a light rehab. A medium rehab is this perfectly. It's like in good condition, but it's not like ready to be arv. And then our light rehab is literally just cosmetic, like maybe paint and some flooring and that's it. Like the kitchen's already nice and maybe new appliances. But that's a light rehab and we rarely get those. However, we know our. I know this is going to be a medium rehab and it's 1120 square feet. So for us specifically, this is. This is. I would say this is probably between average and heavy. So I would actually go somewhere in between. It's always better to be conservative than not. So I would go somewhere in between these two numbers because it's under 1500 square feet. So this is where we're at. And it's like a medium. It's a medium rehab. So I would go in between these two. So now our wholesale offer prices are like this. If we want a 40k fee, we're going to be able to assign this property at $143,000, basically. So if we want a 40k fee. Then we have to offer 103,000 and then I would actually start here anyway just to anchor. However you can work your way up boom to 30k fee. Now 20k fee and now 10k fee. But of course the bigger the fee the better. Like our average fee is 28,800. So right around. So we would be offering like 115 on this. That's like probably where we would get this under contract at. However, you can also do MAO double close. And if you want to do 28,800 profit, this will be your maximum offer. So we could put under contract at 140 and then do our novation. However, this property is listed so we probably wouldn't do a novation with this. The only way we can do innovation is if it is off market currently. Now guys, that is for disclosure states. So now let's go take a look at non disclosure states which is going to be like Houston, Texas. Sure. We're going to reset all filters. Let's find a property to comp. So we're going to again we're going to kind of look for a home that's not in the best condition but it is still livable. That honestly looks like a good one. So let's see. This is a great one. This is a great one. It's probably gonna pass for loan. Like this looks like it would pass for a loan for the most part. It just is like, it's just not. It doesn't look amazing. Right. So this is another one that we would be able to use for both. So this is a great, this a great example. So what I'm gonna do again, what do we do? We. We copy this address. Boom. I'm going to get it centered on the screen here. And now we're going to take this. We're going to make a duplicate page of it. Awesome. So it's a three bed, two bath, 1126 square feet built in 1961. So we'll go from 1940 to 1983. Bed two bath, 1940 to 1980. All right, we're going to take this from for sale to sold. Now you're gonna be like, jt, we can't even see the sold price. I'm gonna give you a little hack that we do sold in the last. Let's look for 90 days. Let's hopefully there is some stuff in 90 days. However, we'll take back to six months because I need it to be on this side of the road. Ideally. Yeah. Cuz like we're In. We're in here. So it's probably gonna be. Let's see. I'm gonna take us out a little bit. I guess we're gonna have to cross main roads for this one. It's not ideal, but it's what we're gonna have to do. So we're gonna look for a three bed, two bath that's completely renovated in this area. Let's see what this one looks like. Okay. No, that was not renovated completely. This is our closest one, but it was renovated completely. But again it's a three bed, three bath and we're looking for three bed, two baths here. So let's go. We're gonna go to 12 months actually, which isn't ideal again, but here we are. Gotta do what you have to do. So now we have more access to it on this street. Again, not. Nope. See what this property is. This property has a garage though this property is in relatively good condition. Like this is arv. This is ARV for the most part. Now let's take a look at our property one more time. So it's not brick, it doesn't have a garage. It's probably not going to sell for anywhere close to as much arv. But we're gonna have to make this work so we can see what it was on the market for. Let's see what was it listed? So it wasn't listed. Boom. Okay, so it wasn't listed on the market for sure. It was sold off market. So let's see what we can find out here. How many square feet is this? 1126. Now this is where things get a little bit more complicated. Gentlemen and women. Here we go. So this one's listed right now. It's in. Okay. This is in like as is condition. Three bed, two bath for sale. 220,000. What I'm going to do here is go back to for sale. Here we go. So this, this house is already way below comps, which is crazy to me. I think the inventory in this market is just not that good. That's how you know where to pick markets is basically what's sitting on the market and what's not. And this is taking a little bit more effort because of the non disclosure. However, see if we can find something that makes sense for us here then not me to press that. We're gonna go in even tighter. Let's see. Homes that are three, two and they need to be houses, not townhomes. So this is probably gonna be a good one. This is a good ARV comp. This is A good ARV comp, but it's got a little bit more square footage to it. So we're going to take this down by about 15,000 already. So our ARV is only going to be about 224, so. 224 ARV. And we also know that this property is. We also know that this property, let's see here, is 1126 square feet. And this honestly is just a very like. This is a light average rehab. It needs the bathrooms done and they can refinish the hardwood and it needs some drywall. So this is going to be like a probably an average rehab on the dot. So this is probably going to be about 25,000 repairs here because we matched it here. Now here are wholesale prices. Right? Right. However, the market's not doing too hot here. So what you would do in a normal situation, I'm going to go ahead and try and give you guys this value. So you understand this property is literally not moving on the market or this pro. These properties are not moving on the market in this area. As you can see, what I would do if I were you is I would look for pending. So here's a pending property. It's literally. It's literally an exact comp. Let's see what this is for. Let's see what the inside looks like. Okay, so this is like in real. This is in pretty good condition. And it's. And it's sold for 180. Right. So it's pending at 180. Let's see here. How long is it on the market for? 11 days at 180. So what I would do is I always do 0.95 times it's listing price. The reason I do that is because it probably didn't sell for. For asking. So we can come here. We just do 0.9 equals 0.95 times180.171. And that's currently what we're looking at like on market. It's or 171is currently probably what we're going to be looking at for its as is value. So at 171, which that kind of makes sense, you know, based on where it's listed at right now. But where are we at here? Sorry. At 171 with a $28,800 aside profit we'd have to offer our maximum offer be 127. Now I'm going to go give you guys this calculator for free down below. Now, if you made it this far, go ahead and like and subscribe. Please also go ahead and get that calculator below. And if you want, if you want a 90 strategy onboarding free blueprint, call with me. I'll actually break down your business or one of my coaches will break down your business, determine exactly how we could provide value to you for free. Our entire goal is just to help you understand this business a little bit better and go out and achieve the the goals you've been looking to achieve. So this is how you use the calculator. It also has a brief tutorial on page two of how it works. I'm going to go ahead and give you guys this below. All you have to do is put in your email and number and I will get it directly to you. Okay? So you guys have a blessed rest of your day. And if you guys want to go ahead and gives them access to this, let me know. Peace.