What you need to know about COMPS

Today’s real estate investing term is comps.

Comp is another word for comparable values which is something usually pulled by a real estate investor or agent.

Comps will help you see how much the prices of houses are selling for in a particular area. In other words, you’re gonna look at the comparable values of houses that have sold recently in that area to evaluate the possible price of a real estate investment.

Comps are how we evaluate the ARV, which is another word we have, after repair value, or the value a house could sell for once the property is fixed to a certain level.

Make sure you go to DFWTOP.com/words if you want to download 22 Real Estate Investing Terms you need to know. It’ll help you as a new real estate investor sound like a pro.