Using Zillow to Find Comps | Wholesaling Real Estate - YouTube

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