ARV could stand for a lot of things.
Angry Roving Vultures.
Accelerating Road Velocity.
Aardvarks Remain Vicious.
But today, we are talking about After Repair Value.
This is, of course, the estimated future value of a property after it’s been repaired. It includes both its purchase price and the value of the renovations.
It’s super important to know the real numbers when making deals – not the optimistic estimates.
In this video, Fabiola and I will talk about the 3 essential steps you need to take to arrive at a good, accurate ARV.
- Recency: The comps you use shouldn’t be from too long ago.
- Proximity: The comps you use should also be close to your house.
And last but not least…
- Sizing: The comps you use should also be similar in size to your home.
We will also give you some detailed real-life scenarios of how this works – which will really help you understand how to calculate ARV. .
I’ve included all of this info, in a straightforward and easy to follow way, in this episode of Grant Teach Me Something.
And that, my friends, is what I call an:
Amazing Resource Video. 😉