2013-10-21 21.04 How To Get Value, Comparables, and Tools For Your Distressed Properties & Motivated Sellers

2013-10-21 21.04 How To Get Value, Comparables, and Tools For Your Distressed Properties & Motivated Sellers Investor Accountability Call: Michael able to follow up on leads ◾10 Sellers ◾3 Possible Lease Option Leads ◾1 Lead Not Qualified ◾1 Short Sale Lead ◾Focusing on West and North End of Market ◾Maybe increase marketing? Valuing Properties: Single Families ◾most common and applicable to majority of the investors in our group Finding a COMPARABLE Property: ◾similar one story homes, two floors, w/basement or without etc... ◾+/- 400 sq. footage or 30% +/- sq. footage ◾what is the age of the home? ◾Take note of the condition of the home ( roof?, configuration?, updated?) ◾how is the house sitting on the lot? ◾is the lot subdividable? ◾Residential income area? commercial? What is the highest and best use? ◾Take note of rail road tracks, commercial /industrial zones, educational institutions/schools, shopping/retail ◾Are the comparables located in the "same neighborhood" , certain areas, ◾Any abandoned boarded up homes near your property? vacant and rotting cars? How many comps should you have? ◾3 Active Listing Comparables ◾3 Highest Sold Comparables ◾3 Lowest Sold Comparables What are the sale dates of similar properties in the area? ◾Ideally you want your comparables to be within 60-90 days ◾What comparable properties sold for cash recently? ◾What comparable properties are ACTIVE listings? How long have they sat on the market? Any offers? Tools and Other Ways to Get Your Comps: ◾MLS / Multiple Listing Service ◾Red Fin ◾Trulia ◾Appraisals ◾Local Assesors Office ◾Zillow ◾SiteXData.com ◾Real Quest Other Ways to Get Values: ◾BPO/BPO Resources: 1.Corelogic 2.www.clearcapital.com 3.www.brokerpriceopinion.com 2013-10-21 21.04 How To Get Value, Comparables, and Tools For Your Distressed Properties & Motivated Sellers

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