Don’t know how to run comps on a house? This single skill could be costing you, or making you, hundreds of thousands on every deal you do. No matter what level of real estate investor you are—rookie, intermediate, veteran—the ability to comp correctly will put you above the rest as you walk away from deals far richer than other investors. And during a housing market correction like we’re in today, this skill isn’t just something that’ll make you more money—it’s what will stop you from going broke.
Comping, formally known as pulling comparables, is putting a potential property up against other properties in the area, finding a comparable price, and seeing how much can be made on a deal. Most real estate investors have pulled comps a few dozen times, but investors like James Dainard and Jamil Damji calculate THOUSANDS of comps monthly. They’re looking for the profitable property needle in the housing market haystack, and as two self-made multimillionaires, their experience shows that they know what they’re talking about.
In this episode, James and Jamil will show you EXACTLY how expert investors comp properties, what you need to look out for when calculating your own, and the “appraisal rules” that were taken DIRECTLY from the source on valuing properties. The tips in this episode could make you six figures more on your next deal. DON’T miss this.
In This Episode We Cover
How to determine the value of ANY property in ANY location
Comping explained and why you MUST have this skill to invest in real estate successfully
The “appraisal rules” Jamil uses to get perfect comps on any deal he does
Cities vs. suburbs and the BIG mistake investors can make when comping these two areas
Where to find property information and the ONE source you should always start with
Comping during a housing market corrections and what to do when prices start to slide
The ONE tweak James made that helped his recent house flip make $100K+ more
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave’s BiggerPockets Profile
Dave’s Instagram
James' BiggerPockets Profile
James's Instagram
Jamil's BiggerPockets Profile
Jamil's Instagram
Grab Jamil’s Appraisal Rules
How to Determine a Property’s Value Using Real Estate Comps
What is a “Comp?”
Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-99
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