All Forum Posts by: Alan Exelby

It all worked out. Funding is coming just going to be late a day or three.

Thanks everyone for all your advice.

Alan

The seller has been difficult from the beginning and seems like she'd be happy with my money and walk away.

As for the appraisal it came in at what I was buying it for and they also gave an ARV value. I have at least 4 homes of the exact layout sell over $255k and 2 of those over $265k in the last 4 months and the appraisal came in at $223k.

Hey All

I am in the final days of a probate sale and my lender finally came back with an appraisal well bellow the comps in my neighborhood that I'm buying. I am already into this for a bunch of money that is non refundable and they want to pull the rug out from under me. I close in 4 working days and I may be finished before I even get going on my first actual flip.

Any and all help and suggestions would be greatly appreciated. 

Thanks

You seem to be up on most of the area. Other then most people don't want a vacation rental in Indio other then maybe during Coachella. LaQuinta and Rancho Mirage are your best bets. Each HOA have different rental rules. there are a few with a 30 night minimum stay.

You have to realize all your income is made in a 5-8 month period and your unit will probably be vacant the other months. This is a very seasonal place.