All Forum Posts by: Dan Beaulieu

 I was hoping for cash just for this very reason! The property is really tricky because it's the only mid century modern that's been renovated in a huge area, and the other properties in the neighborhood are about 3 times the size. I took a huge risk by flipping this property just because of the lack of good comps, but knew it would sell fast because it was beautiful and unique. If I go with a backup offer now at 550, I will probably just have their appraiser use the same comps and appraise it at 515 again and risk blowing up the next sale too! If I was loaded and / or doing multiple properties at once, I would 100% hold out for more money. 

I think I'll have to just walk away from the table while I'm up. 

 Thank you for responding Russell! My agent most likely dropped the ball. 

Hi everybody and thanks in advance for answering my question! I have 24 hours to respond to the buyers so I hope somebody will provide me with some direction. I recently listed a rehabbed property for sale at 539,000. I had multiple offers ranging from 545,000 to 550,000 in the first 24 hours! I locked up an offer for 545,000 that could close in 3 weeks, and put two offers for 550,000 in backup position. The inspection went well, but the appraisal came back at only 515,000!!! The property is really unique and is hard to put a solid value on... but we went to the appraiser and said hey, here are multiple offers for 550,000 so that's what the market says the property is worth! Well, that didn't work very well obviously. So the buyers said they will come up with a cash difference but only up to 534,000 purchase price. There is 12 days until closing now. 

Do I say no way Jose and go with the backup offers, essentially starting a 30 day closing clock over, and risk the inspection not going as well and possibly another low appraisal? Or do I just take the very small profit at 534,000 and try not to be greedy? To wait an other month for an extra 15g when I have a guaranteed pay day in 12 days... (oh, and my holding costs are astronomical at 3,600 per month!)

Ever tried refinancing with quicken loans? 600 bucks. Easy as pie!

@Mike Tetzel

Sounds great thanks so much for the recommendation! 

@Kevin Totland shoot me a PM and I'll give you more info. Looking forward to it!

@Kevin Totland

Why don't you come by my cottonwood heights flip and we can talk about the deal / market / flipping etc. :) 

@Account Closed it won't be a cash purchase. Thanks guys! 

Hi Nashville Investors! 

My girlfriend and I are moving to Nashville this summer from SLC and are looking to buy a multi-family unit to live in / rent. Can anybody recommend a good buyer's agent that is investor friendly in the Nashville area? Thank you!!!

-Dan 

Hey @Ann Alleman, 

I'm currently doing a flip in cottonwood heights... you guys are more than welcome to swing by and check it out and we can chat! Let me know if your interested.