You're right about the online comps—I've had some solid luck with them too, but I've also had a few surprises pop up when I actually drove by. Like this one time, everything looked perfect online, numbers lined up nicely, and then I get there and there's a massive construction site right next door... cranes everywhere. Talk about a deal-breaker.
I guess that's why I'm still cautious about relying too heavily on just online listings. Have you found certain tools or platforms better than others for accurate comps? Maybe I'm just using the wrong ones or missing something obvious. Curious how others double-check their data without spending half their day in the car...
I've had similar experiences—online comps can be deceiving sometimes. One tool I've found pretty reliable is Redfin, especially since they update listings quickly and often include recent photos from agents or users. Also, checking out Google Street View can help spot obvious red flags (like your crane situation...). It's not perfect, but it saves me a few unnecessary trips. Still, nothing beats a quick drive-by if you're seriously considering a property.
- Totally agree on Redfin—it's usually my first stop too. Zillow can be hit or miss, especially with outdated listings or comps that don't match reality.
- Street View is helpful, but I've noticed it can be pretty outdated in some areas. Had a client recently who almost skipped a property because Google showed a vacant lot next door. Turns out, it was fully developed and landscaped by the time we drove by. So yeah, always verify in person if you're serious.
- Another quick tip: county assessor websites. They're not flashy, but they usually have accurate property records, recent sales data, and sometimes even permit history. Saved me from recommending a property once that had major unpermitted additions—would've been a nightmare for financing.
- On the DSCR loan front specifically, lenders are pretty strict about accurate comps and rental income projections. If you're relying solely on online tools, you might get blindsided during underwriting. I've seen deals fall apart because the appraisal came in way lower than expected based on online comps.
- Bottom line: use online tools for initial screening, but always cross-reference with official records and a quick in-person check. It might seem like extra work upfront, but it'll save you headaches (and money) down the road.
Redfin's usually my go-to as well, but I've definitely been burned by Zillow's outdated comps before. One time, Zillow had a property listed as "recently sold" at a price that seemed too good to be true... and yeah, it was from like 3 years ago. Talk about a letdown when reality hit.
Also, totally second the county assessor sites. They're clunky and look like they're stuck in 1998, but man, they're goldmines for accurate info. I once almost jumped on a place that looked perfect online—newly remodeled kitchen, finished basement, the works. But a quick check on the assessor's site showed zero permits pulled for any of it. Turns out the seller had DIY'd everything without permits. Dodged a bullet there, especially since financing would've been a nightmare.
As for Street View, it's great for initial checks, but I've learned the hard way not to trust it blindly. Last year, I was scouting out an investment property and Street View showed a nice, quiet neighborhood with a charming little coffee shop across the street. When I drove by in person, that coffee shop had turned into a noisy bar with live music every night. Not exactly the peaceful rental vibe I was going for...
With DSCR loans specifically, you're spot-on about comps and rental projections. Online tools are handy for ballpark figures, but lenders are picky (rightfully so). I had a friend whose deal fell apart because the lender's appraisal came in way lower than his online estimates. He ended up scrambling to find another property at the last minute—stressful doesn't even begin to describe it.
Bottom line, online tools are great for narrowing down options, but nothing beats boots on the ground and official records. Sure, it's extra legwork, but I'd rather spend an afternoon double-checking than weeks dealing with financing headaches later.
I've had similar experiences with Zillow's outdated comps—it's definitely frustrating when reality doesn't match expectations. I remember one property I was eyeing for a DSCR loan looked fantastic online: solid rental projections, great neighborhood, and the comps seemed spot-on. But when I did my own digging, the numbers just didn't add up. Turns out Zillow was pulling rental comps from a completely different neighborhood nearby, skewing the projections way higher than they should've been. Thankfully, I caught it early enough to avoid getting too invested.
And yeah, county assessor sites might look like relics from the dial-up era, but they're incredibly useful. I once found a property that seemed like a steal—recently renovated, modern finishes, the whole nine yards. But when I checked the assessor's records, I discovered the square footage listed by the seller was significantly inflated compared to official records. That discrepancy would've tanked the appraisal and made financing a nightmare. Definitely dodged a bullet there.
Street View can be hit or miss, too. I once relied on it to check out a potential rental property that appeared to have ample street parking and a quiet atmosphere. When I visited in person, though, I realized the images were several years old. The street had since become a busy thoroughfare with limited parking and constant traffic noise—not exactly ideal for attracting long-term tenants.
You're right about lenders being picky with DSCR loans, especially regarding appraisals and rental income projections. Online tools are helpful for initial screening, but I've learned to always verify with local property managers or real estate agents who know the market firsthand. It takes extra effort, sure, but it's worth it to avoid last-minute surprises or financing headaches down the road.
Overall, online resources are great starting points, but nothing beats doing your own due diligence and verifying everything independently. It's saved me from more than a few costly mistakes...
