Here's EXACTLY how to run real estate comps broken down for beginners!

Ryan Zomorodi, COO of RealEstateSkills.com walks through the entire process of finding real estate comps to accurately estimate property values. Knowing how to comp real estate is essential for real estate investors and wholesalers looking to make smart, profitable decisions.

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From understanding what real estate comparables are to learning the difference between appraisals and comps, this video covers everything you need to know to confidently analyze real estate deals and determine the after-repair-value (ARV). Whether you're a seasoned investor or just getting started in real estate wholesaling, mastering the art of pulling comps on a house is crucial for success.

📚 In This Video, You'll Learn:

🔍 How to Find and Analyze Real Estate Comps: Discover how to locate the best comps to accurately value a property.

🏠 The Role of Appraisals and Comps: Understand the difference between appraisals and comps and why both are crucial for real estate valuation.

📈 How to Run Comps on a House: Follow a step-by-step guide for beginners to run comps on a house using various tools and resources.

⚖️ Adjusting Comps for Property Differences: Learn how to adjust comps based on property differences to achieve the most accurate valuation.

🏘️ Tips for Handling Unique Properties: Explore strategies for dealing with unique properties when traditional comps are not available.

🛠️ How to Calculate After Repair Value (ARV): Find out how to use comps to determine the ARV and make informed investment decisions.

💼 Best Practices for Real Estate Wholesaling: Get insights into using comps effectively in wholesaling real estate.

📌 Timestamps:

0:00 - Introduction to Real Estate Comps

1:02 - What Are Real Estate Comparables?

2:02 - How Real Estate Comps Affect Valuation

4:28 - The Role of Appraisals and Comps in Real Estate

6:42 - Difference Between Appraisals and Comps

9:07 - How Many Comps Do You Need?

10:42 - What to Do When There Are Not Enough Comps

12:29 - Importance of Proximity and Similarity in Comps

14:06 - Tools and Resources for Finding Comps

18:09 - How to Run Your Own Comps as an Investor

20:19 - High-Level Review of Real Estate Comps

21:14 - Most Important Factors for Finding Real Estate Comps

24:02 - Adjusting Comps for Property Differences

27:08 - Valuation Approaches in Real Estate

30:14 - How to Handle Unique Properties When Running Comps

33:00 - Step-by-Step Process for Finding Comps

35:10 - How to Make Adjustments Based on Comps

39:03 - Using Data Points to Determine Property Value

44:02 - Importance of Data and Market Knowledge in Real Estate

47:02 - Handling Discrepancies in Comp Values

48:48 - Talking to Agents for Better Market Insights

51:10 - Final Tips for Running Effective Real Estate Comps

1:00:14 - Beginner Tips for Real Estate Comps

1:03:01 - Final Thoughts on Learning the Market and Running Comps

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📝 Disclaimer:

This video is not personalized financial or legal advice for the viewer.