so the MLS is where the data needs to come from in order to make these accurate comparisons but the MLS does have a couple of drawbacks it doesn’t tell you what leans around the property it doesn’t tell you who the owner is that’s where the county recorders office can help you so really a great real estate investor who wants to truly understand the property is going to use the best or the the strengths of the county records in the strengths of the MLS I’m going to bring that information together to make
the right decision but even if you have the right information you House Valuations blue mountains can still completely screw up determining property values so this is where the next part comes in and that is who is making the comparison who is comparing you know in this day and age there’s a lot of people that love computers and computers can do a lot of great things they can calculate very efficiently very consistently a massive number crunching but computers don’t see the bigger picture computers don’t know when they have been programmed with a bug because they don’t know how to look outside themselves and say hey there’s a bug they can’t tell if the numbers look wrong after
they’ve calculated something and so what happens is we have a lot of people who want computers to make decisions for them when technically the best role of a computer is to help you be more informed so you can make great decisions humans are not computers we have this wonderful ability to do all sorts of things that at this point especially in the real-estate investing world technology is not available yet to to duplicate the human brain and so what happens is this the things like Zillow Trulia and so many other of these systems
you know they’ve made a lot of headway and they’re doing better and better all the time but they have massive weaknesses and one of those weaknesses is they’re drawing all their information from the county records tax assessor is whether getting the bedrooms bathroom square footage which could all be wrong and then not only they’re using that but they’re then trying to figure out which properties are comparable and they’re doing a circle around the property say a two mile radius but you and I both know that every part of the US there are pockets where if you go two miles apart they’re completely different worlds right you can go from