What if I can't find comps? Alli Parkinson
A lack of comps could mean that this is not an active area and isn't the best area to be investing or doing flips. It could also mean that the subject property is very different from the surrounding properties, which could be good or bad, but it is definitely something to be cautious of because it will make it hard to determine the ARV of the property.
You can move forward by finding comps that will best match the property, but keep in mind a lack of comps, or comps that are not similar to the property, may not reflect how the property will be valued.
Finding a different property or a different area may be your best course of action so you aren't taking on the risk of the unknown.
You can check out our YouTube video: What If You Can't Find Comparables in The Area (Real Estate Investing)
Our page on Comp Guidelines has more information.
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