Using Zillow to Find Comps | Wholesaling Real Estate

Using Zillow to Find Comps | Wholesaling Real Estate

Hey guys, Dara here. This is so new to me
cuz I’m not a Mac but now that I have a Mac, I’m about to be doing this like a lot a lot maybe But, this video is highly requested I get the question all the
time: “How do you pull comps if you don’t have MLS access?” Well, keep watching and I
will show you exactly how to use Zillow to find comps. The first thing you want
to do is type in the address of the subject property and here we have it already populated. Hit search. You want to take note of the bed/bath count but more importantly, the square footage. And, as I scroll down, I take note of the year built. It was built in ’57. See, don’t know what I’m doing on this little MacBook. Alright, so here’s the neighborhood it’s in; you
want to take note of the neighborhood as well as– the best way that I like to look
at it is the elementary school because other houses that are in the same
elementary school district are pretty much, more than likely gonna be within a
half a mile radius of this property as opposed to maybe the same middle school or
same high school district. So we’ve got that in mind, then you go here to ‘Listing
Type’, and I like to make sure that the ‘For Sale’ and the ‘Recently Sold’ are
selected. And I also like to see ‘Pending & Under Contract’ too in some instances because when I use the MLS for comps I use pending properties as well. So the
reason, obviously, ‘Sold’ is because that’s what’s gonna tell you what’s going on,
what’s the history of this area and then ‘For Sale’ is kind of forecasting the future.
So what are properties going for currently on the market? Then you go to
‘Home Type’ and you want to make sure that only ‘Houses’ is selected. If this was
a land deal, then make sure it’s just ‘Lots and Land’ and nothing else selected. If this was a condo–you get my point. So, you go to ‘More’ and then here I’ve got
it pre-populated already and what I just did was took 20% of the square
footage of the subject property which you saw with 960 square feet so I have a
little bit smaller and a little bit larger and that is our range. I also do
ten years older and ten years newer. And then you definitely want to make sure
you come to ‘Days on or Sold in the last’ and select six months. Cool, you hit ‘Apply’ And then– let me get myself out of the way. Where do I go? Okay, so then here on the side you
see what’s what. These are “For sale”, “Under contract”. As you can see, there’s no
yellow or red dots on the immediate street. Or any neighboring, adjacent
streets. So on Zillow, two zoom-outs That was one, right? And then two–should be about a half a mile radius, I believe. I do, typically, no more than two zoom-outs. And, so now you see your dots. So, looking around here where you have a lot of sold properties, um, you know. Looking at the lower numbers, I can just already tell that those are the as-is comps. Let’s take a look at this: sixty-seven guy. 3/1, 960. This is an exact comp. Um, I don’t really pay much attention to this photo because it is a Google Street image. Um, but the fact that
it sold for 67, I can almost imagine that it was in its as-is condition. Then
I just scroll, scroll, scroll. So it’s in the same neighborhood which is great. And again, I like to always get
as-is comps as well as my renovated comps. So larger numbers kind of tell me,
I assume, that those are renovated. Let’s go to this 116. It’s 2/2, 928 square feet. Again,
not paying any attention to this image. It could have been sold at this state,
but because it was 116, I’m just gonna assume it was renovated. There’s no description
here to let me know either way but gonna go with that hunch. Great, same neighborhood. We’re gonna jot this one down as a comp. Sold for 116. Let’s see what’s over yonder. Alright, let’s see what–what’s going for eighty– Ninety-four nine. 816 square
feet, 3/1. Again, no telling what the actual condition is for it to sell at that price. Scroll, scroll, scroll. Let’s see the neighborhood just to make sure, like I
said, here in Atlanta, areas are very street-by-street and it changes. One
street could be in one zip code, one street could be in another. One street could be a different neighborhood that’s a lot more booming than this one, you know, so it’s very important to note this neighborhood. You scroll, scroll, scroll. Cool. We’re still in Dixie Hills, guys, so that’s good sign. Cool, so we’re gonna jot this one
down as comp number two, and you always want to get at least, at least three
renovated comps. And, what else? We got a 98 over here. Oooo! She’s pretty! She’s pretty. So this is what I was saying, guys, about not trusting this Google Street image, cuz looking at the Google Street image, you’re like, “Oh.” But then they–
these were probably the listing photos and, look at her. She got some nice new
landscaping, you got some mulch, a red door. Everybody loves a red door. Paint.
Look, there’s granite, there’s stainless steel. They did that, hmm, they did that. Listen. Hmm. What they do? That. Look at the floor. Look at the floor. They– ooo! *sings* Shining, shining, shining, shining– I could see myself in this floor. Yeah I could see my reflection in these floors. Alright so yeah So here we go, this one check that one, uh, check that one off too as a renovated comp. So we’ve got our three. And I, like I said, don’t know how to use this Mac; I don’t know if there’s a calculator on here. So I’m just gonna go into my phone, calculator. And do the average
of these three comps. We had 97.5 plus 116 plus this one was 94.9. Divide that by three cuz there’s three comps. And this–oh you can see it! Wow, I thought it was gonna be backwards. So this is gonna be our ARV. 102,800 dollars. And that is pretty much it, guys. That is how you find comps using Zillow, okay?
Don’t let nobody say you can’t use Zillow. Now, disclaimer: Zillow sometimes is not
accurate even with the sold prices, crazy– crazy right? Why wouldn’t they be accurate
with sold prices? You just never know so but, honestly, starting out without MLS
access this would be your best bet on learning how to get comps. Using Zillow. Alright, so that’s it. Thanks, guys, for watching. I hope you enjoyed, thanks for bearing with
me and I’m brand brand brand brand brand new MacBook, okay? Look, I got her just
for this purpose so I can do like, ya know– But, make sure you like this video
if you liked it, you comment below, share it, and subscribe to my channel. Thanks
guys, see in the next one

21 thoughts on “Using Zillow to Find Comps | Wholesaling Real Estate

  1. Great video Dara! Loved your reaction to the house with the red door, I'm not the only one who loves seeing a newly renovated home!

  2. haha!!! I was literally listening to shining when your video popped
    up and you're sanging it lol. Also this video was so on time. I have been feeling semi uncomfortable finding comps! Thank you for this video!

  3. Strong info continue doing ya thing you inspire me to keep moving forward I’m into wholesaling myself just starting out, thanks so much for the input

  4. Great info. You went into great detail.

  5. Girl, you were excited in this video. 😊. Your info definetly helped. Thanks.

  6. so what exactly are comps and how many are you supposed to look for?

  7. So much info in one short video. Love it! I feel like I'm in school taking notes and all. Thank you.

  8. Another awesome video! Thank you again!

  9. You did WHAT with the square feet??

  10. You did what with the share feet?

  11. I mean square feet

  12. Hey Dara, if you cannot find 3 or more renovated comps in the area of a property do you just drop the house?

  13. What exactly is a “comp”

  14. Hi,what where the numbers your using to find the comp.Could you post showing the numbers being displayed while your doing the calculations.

  15. Awesome video it was very informative & you have a dope personality

  16. I know you said you like to get as is comps as well, but you didn't add any to the arv you calculated. So is it better to use all renovated sold listings?

  17. Do you have a real estate license?

  18. meet up for coffee in savannah, my treat?

  19. Very Informative thank you! Just one thing I am confused about: The Subject House, is it an already sold house or what is it? Thanks again!

  20. Solid advice given in this video. However, i did miss your typical grand finallee where you proudly display your shirts. That's always my fav part! #GotitFlauntIt

  21. @dara . When wholesaling Deals you find, do you need to create a separate NEW total different contract for every seller? Or can you just type out one original copy and just multiply them for every seller in your state?

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