I want to start doing wholesaling in Texas. It is a non-disclosure state. so, when I look up the comps on the system there is no data for sales prices. I need help and steps as to how to figure the ARV for properties. One property that I am looking at is 803 THOUSAND OAKS BLVD, GEORGETOWN, TX 78628.
It does make it more difficult when all of the data is not available. What you will have to do is take a look at the mortgage amounts on the sales of the comparables. You do your analysis the same; ie; looking for home similar in square footage and age which is disclosed; but then since there is no sales price; you would look at the mortgage taken out on the home. Typically people have been getting 90-100% loans. Usually the loan amt is the sales price or close to it. With that being said; when I pulled the Investor comp report; comparables # 6,10,and 11 were comparable. There loan amts were 108K, 131,920K, and 106,160. Based on this data I would sale the Max ARV value would be between $110K to $130K. I hope this helps.
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