All Forum Posts by: Fionna Chau

I second and third that Leslie is the absolute best! She helped my fiance and I secure our property in Nob Hill. We plan on turning it into a mid-term rental for travel nurses since we are in a prime location!

Best of luck on your ventures, keep in touch! :)

Beautiful space! So excited for you on this new STR journey!

Hello! 

I purchased a SFH in a highly desirable area in Nob Hill, it's literally mins away from the UMN campus. The house is on the older side and previous owner definitely deferred a lot of routine maintenance.

Looking for a general contractor to be apart of this journey!

Thank you so much!

Yes, our down is 15% (45K), as of today the seller is going through with the appraisal, but we did tell the seller that we will seek legal action and a real estate attorney is on standby if he breaches the contract.

Hello BP community, I wanted to come on here for some advice on a scenario with a seller.

My fiance and I are under contract for a SFH, our offer is 300K with the listing at around 260K in a desirable neighborhood. This house shouldn't have a problem appraising around our offer price because of the location and the comps in the area. However, the seller is now worried about the appraisal being much lower than our offer and wants us to sign an addendum to a minimum of 290K. We did not agree to this addendum because negotiations should have been made prior to being under contract and we know we have a strong original offer including an appraisal gap of 5K, amongst other things. We are hesitant in deciding whether we should counter with our own addendum or hold the seller to the contract as is.

Our appraisal is coming up soon in a few days and the seller is refusing the appraisal which would breach of contract. There are a few other things that have popped up but we wanted some input or if this has happened to any of you and what the outcome was in your situation.

Thank you so much! You can also DM as well.

@Nicole Bussard definitely do your research and let me know! My agent is awesome she is incredibly knowledgeable about the area and fast with her responses. Albuquerque  is an appreciating with the exciting things coming to the city, send me a private message if you want to discuss the market I would love that too! Like you said we are newbies too! 

@Nicole Bussard Hello! Thanks for reaching out, we haven't closed on a property yet because the market was super hot during the time we were looking. We were getting out bid on our offers so we took a pause to rethink our strategy, have you been looking and or have an agent. If you are interested in an agent we have a great one I can give you her information! 

@Jonathan Wooten oh yes we have made a feel offers! We haven’t had an offer accepted yes because we are being beat out by offers above the asking price.

@Jens Nielsen I appreciate the advice from a seasoned investor in this market. I want to explore more creative strategies, but it could be the novice and lack of experience where I don’t know where to begin. Do you have any referrals you would recommend for local meet up groups, wholesalers, or masterminds?

@Jonathan Wooten The multi family space is what seems to be the hot market right now there! We have been only looking at NM for now, but we are open to other markets if it doesn’t pan out there.

We may consider house hacking in LA and build equity, but the cost of homes are ridiculous here.