All Forum Posts by: Kenneth Mcgee

Dealing with a similar situation

@Collin Schwartz thanks for sharing very movational, newbie out of  Houston TX this inspire me to go harder keep up the good work.

Congrats.. if you don’t mind could you run the numbers and how u financed the deal?

Thanks for advice and replys guys.

Also going through  similar situation but did not list my home, put short sale under contract for 205k and just got the appraisal back 2 days ago for 230k we got the seller approval but not the bank approval, so I'm assuming the banks going to want more money? 

Conditional approval from my lender for a loan, and I did everything but the approval letter, so that means that since there's no approval letter they can request the appraisal price instead of the 205k?

Hello bp community, 

Need a little advice, I recently put a offer in on a short sale in July on a property that was listed for 205k. The closing was set for sept 11 and everything was going smooth, we got conditional approval thus far. So we put earnest dwn $2010 survey $440 and appraisal $550 so 2 days ago the appraisal came back at 230k, my realtor is inexperienced in short sales and had comps for 210k, so he really don't know what to expect. I've heard that listing agents usually list homes for under market value just to see if bank would accept offer, but to me it seems like they putting you in an awkward situation because if they come back and say hey we want  market value it's like buy it for 230k or lose 3k and start over. I know they can negotiate but have anyone ever dealt with this before? My realtor has reach out to listing agent but so far no word back, I guess monday they'll let us know what's going to happen. 

Any advice on what to expect or how to get around it? 

Thanks Paul will use everything to my advantage to become an success.

Thank you guys for the warm welcomes you call look forward to my contacting you getting as much advice as I possibly can. 

Hello everyone,

Hi I'm Ken, located in the Houston tx area and at first I wasn't sure but now I'm positive I'm interested in RE. I work for the post office and my wife is an nurse, so with all the money we make why not invest it in RE? We just purchased a home for 100k and was able to put 20% down, but knowing what I know now I would have done a few things differently. We are leaning more to investing in rentals but wouldn't mind flipping from here to there. So if anyone know any experience contractors, brokers, and lawyers send them my way please, also open to all the advice and pointers. I'm also looking for a local mentor to show me the ins and outs and is open to working with other investors.