tcas's blog

What multiplier do I use for Southern California to figure my ARV

Hi I'm new at real estate and am trying to make my first offer on a For sale by owner property that just had sign put out today. The house is down the street from me and has been empty for about a year. I called the owner and he is out of state. He said it does not have an updated kitchen. I went on zillow and ran the comps of 3 similar houses that have sold and came up with with avg sq price 338.27$. This is 70k less than his asking price. I then figured out the after repair value at by .7 figuring med rehab this seems very low! I am unsure what to make my asking offer can some one help me