The markets should always determine direction when it comes to real estate investing, and do not assume that that means that humans can not influence that structure. By that structure I do mean the markets. I am simply saying that we humans should be certain that we respect the facts that there are boundaries which can't be ignored just as there are boundary laws in the laws of gravity, boundaries in the principles of arithmetic, even boundaries in a set pinch of ingredient determined for a cake. Real estate investing shouldn't be prohibited from such tight similar restraints but all the more included.
See one should first consider their project and then see where in the markets can a play be made to accommodate their prospected action. One way to determine the flexibility allowances of the market and it's variables is by observing qualified comparables of your subject property, and only by a banker's standpoint should this be done is what my experiences have taught me. (This site does not offer legal information for such you should consult your attorney.)
Here are a few things that will help when determining comparables. A single family residence subject property should have at least three comparables matching this description: (1) one mile limitation from the subject property, (2) no train tracks or operations rails within .25 mile radius, (3) no highway without noise wall within .25 mile radius, (4) year built closely the same as the subject, (5) frame or brick structure percentage should be similar, (6) square footage similarity match, and (7) validate rental similarities crime statistics, zip code.
In conclusion, this list does for the most part match lender and appraisal requirements with FDIC regulations provided some small adjustments here or there. As our team press forward into administrative attributes, these are the duties involved to a great degree. While many choose to use software to perform such task, manual abilities of an investor skill-set will always outweigh electronic options should software malfunction.
CompCity 4RealEstate! We Pull Comparables For You! $24.99
We have the ability to perform gathering comparables on single family residence nationwide at $24.99 cost per subject property (non-certified/ non-licensed comps). The client receives 3 comps detailing the values and addresses of the comps and determines rather the value is high, low, or medium value for the subject property. The options are available to have one comp done or up to 25 comps. It takes 48-72 hours to complete all orders. Please email your orders over including the property address once you've completed your payment. The address received by email will be verified making all orders final and unchangeable. We do offer discounts for the larger orders you place. These comparables are only factual estimates and are not to be used as appraisals but are only to be used as guidelines to substantiate property values prior to purchasing an appraisal. We are not certified as appraisers, this site nor does not offer legal advice. Please consult your attorney for legal council. Our intended service is only here to give guidelines to investors that we may be able to better determine property values before deciding contract sales price, then at which time appraisals are normally ordered. We do not include crime statistics, schools, churches and things like that but our focus is strictly on value from an equity perspective.