I'm getting ready to negotiate my first real deal. Unfortunately my source for comps has dried up. (long story) I don't want to start paying a monthly fee for comps until I complete my first deal. I plan on using my cash from that deal to really start funding my business.
I am scheduled to meet with the home owner tomorrow, and I have a very round-about estimate of what the house MIGHT be worth. But I'd really like to get another pair of eyes, or at least a database to crunch the numbers. I can't use Zillow because in my town the public records don't show "beds" or "baths" and zillow seems to have a hard time calculating their "zestimate." I've attempted to use current MLS listings but there really isn't anything comparable to my house. It's very old, (1930) in a low income neighborhood, and not many houses are listed near by.
The best I can do right now is estimate what a landlord might charge for rent on this house, (because I believe that to be my most likely buyer on this deal) and then try to estimate what they might be willing to pay for a house that rents for that amount of money.
Thanks guys, have a great weekend.
