InvestorComps has provided our members with extensive training into non-disclosure states. As we continue to search the nation and educate ourselves we consistently update our members on the new data and research we find. Your real estate comps is here to valuate the deals and learn some skills that will make your real estate business stand.
During a routine research, we have discovered some non-disclosure states that do not provide mortgage information. Typically, we can extrapolate the value of a property using the mortgage data. But, what do you do when it’s not available? Well, InvestorComps has taken the time to research with county appraisers and assessors to get insight into how to valuate property in these markets. True “appraiser secrets for the investor”.
For example, Montana is a complete non-disclosure state. All the details of a sale are private, including the mortgage data. However, InvestorComps has discovered that it is an “ad valorem” state; which means it is taxed based on the true market value of the property. The local appraisers must analyze actual HUD’s, recorded deeds, and talk to home buyers to determine closed sales price. This information is not readily available on the local MLS. So, where does that leave the local investor to do?
InvestorComps has done some of this preliminary research for you. We have determined, after research with the Montana state government assessors and local appraisers, that the taxable values are within a variance of approximately ten percent. Now this isn’t hard and fast, but it is a great start for helping these local investors determine market value of their deals.
This is just an example of the hard work, knowledge, and training InvestorComps provides to our members to keep them up to date on opportunities in their markets and training them to build the most successful real estate business they can.