Matthew,
Matt
I am Michael Valerio, the broker of the Fort Worth office. I understand your frustration with this transaction. Purchasing your first investment property can be very stressful and tense. While the subject-to appraisal may have come in a bit light, it only reflects the suggested repairs that you provided to the appraiser. As we reviewed, there are several comps that sold for more than $150,000.00 in your same subdivision within the past 6 months. As a matter of fact, I remember there being a comp near $170k. Having the repairs off by $2.6k is still within reason of being a profitable deal. When we spoke yesterday I assured you that we would help you find another contractor if you aren't satisfied with your current GC. Your associate is committed to your investment being a success and will continue to help you throughout this process.
You purchased a property in one of the most active areas of Fort Worth. At any given time there are plenty of actives, pendings, and sold comps. We will do our best to advise you throughout the rehab to ensure that your finish out matches those of the comparables that sold around or higher than the ARV you are trying to aim for.
Again, I completely understand how stressful your first deal can be, but relax. When this is all over and you've made a decent profit, it will be worth it.
Do not hesitate to call me directly on my cell phone. Your agent will be able to provide you with it.
