Real Estate Investing - How to run real estate comps

MLS Deal Finder

How to run comps

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MLS Deal Finder

How to run comps

• CMAs • Automated Valuation • First to Find Deals

✓ CMAs • Automated Valuation

• First to Find Deals

What is a CMA?

Comparative Market Analysis

Terminology

• Subject Property

• Universe

• Comparables (Comps)

• Market Value

• After Repair Value (ARV)

• Fair Market Value (FMV)

• Repair Budget

•Profit = ARV - Purchase Price - Rehab Cost - Misc Costs

Important Parameters

• Distance

• Year Built

• Square Footage

• Subdivision

• Bed/Bath, Garage, Pool, etc.

• Sold Price

• Sold Date

CMA Creation

1. Create Universe A. Use similar homes nearby

B. Utilize important parameters: Distance, square footage, year built, Sold Date, etc.

2. Select Comparables A. Utilize important parameters

B. Location

C. Condition

Utilize Technology

Google Maps

Street View

Each CMA requires

~20 minutes

Every CMA is different.

Why?

• Geographic Area

• Geographic Location

• Size and Age

• Recency of Comps

Each CMA requires

~20 minutes

Real Estate Agents are Experts in CMAs

Always

✓ Walk the house

✓ See the neighborhood

Repair Budget • Partner with experienced person

• Learn it yourself

DEMO: FastCMA

Technology = Competitive Edge

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