Learn to value a property by calculating its after-repair value using MLS or Zillow, estimating repairs from seller questions and photos, then plugging those numbers into a deal analyzer to set your cash offer with a target profit margin.
Okay, so in this video we're going to talk about how, um, the steps on how to analyze and comp a property so you know what to offer. So let's go over here. So I got a quick list that you can review on the steps to analyze and comp a property. So number 1, the first thing you want to find out when talking to sellers, what the ARV of the property is. And ARV is the after repair value. That's what a flipper or someone that's going to flip, uh, fix the house up and resell it, they want to know What can I resell this house to after I fix it up? And the first thing you're going to do is you're going to find the ARV by using the data you have available to you, whether you have MLS access, PropStream, Zillow, those websites that will help you determine the value. Number 2 is you want to find out the repairs that the property has that needs. Like, you would do this by, you know, asking the seller questions like, you know, when, what time was it? When was the roof last replaced? How's the plumbing? How's electrical? Is it on a foundation? All those questions. And I'll actually include the questions you can ask, uh, when, you know, asking the seller about the condition of the property. Uh, next thing you can do is you can ask the seller to send you some pictures or video walkthrough that they can email or text you. Uh, another thing is, uh, you can actually go to the house if you want to. We avoid that just because it takes a lot of time. We just ask the seller to give us some pictures of the property. Some people can't, they can't figure it out, but most of the time they can. So that's the next step is finding the repairs that are needed. Next, you're going to want to plug in the ARV, the repairs needed into the deal analyzer calculator that you've been provided. And I'll be doing a video next that shows, you know, how to analyze some real life deals so you can see how it works. So once you've taken all that information and plugged into the calculator, you want to determine what your wholesale fee is. How much you're trying to make. Are you trying to make $100K on this deal? You're trying to make $5K? That's the next step. And then at number 5, the last thing you'll do is you'll, you'll be, you'll be ready to make a cash offer and feel confident of where you need to be. So that's a quick step-by-step process of how to comp, analyze and comp a property so you know what to offer. So let's jump into the next video and do a lot of some live Examples.
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