All Forum Posts by: Michael Clevenger

@Jim Brown

The recent appraisal listed 6 comps on the report with the average price $110.54 per sq.ft.

My property has a total of 2,989 sq.ft.

=$330,404

For out of the six comps have pools, I do not. The appraisal took this into account subtracting 15K per sale for an average Adjusted Sale Price of:

=$320,347

Even though my property was listed as Superior Upgrades along with 3 of the comps. The other superior upgrades do not come close to what was done to mine. Example of a Superior comp:

6727 Johns Ct 

Arlington, TX 76016

My property that is located in an secluded area consisting of only 25 homes:

4006 Shores Ct

Arlington, TX 76016 

Trying to wrap up my first flip. I've learned a lot throughout the process. My latest lesson regarding the appraisal. 

Turned the house into a beauty. But now my asking price is 30k higher than the appraisal! The buyer's are not able to pay the difference and I can not take the hit. Any advice from BP?

List price: 345,000

Buyer paying list price 345,000

Appraisal: 315,000

@Christy Greene

South as well as West Arlington are great areas. You can find properties elsewhere in Arlington however I prefer South & West. Keep in mind the other great cities such as Mansfield and Burleson (Just happen to be south of Arlington).

BP Member/ Joseph Owen sold my flip in West Arlington and is a good contact to have. 

@Matt Shields

Thank you for the follow up! I'm glad that you took the time to do so. I'd consider you lucky to have been left such a gift. I hear that the "gifts" are not always as nice! You can sell or keep both would be beneficial. 

Also, thank you for setting those guys straight. I'm new to BP and have never participated in anything as such previously due to these situations. Very unprofessional indeed. To think I've been running around town telling everyone I know about this awesome site.  

PS> I have a 2014 BMW S1000RR Look it up/ If a tenant ever left any type of motor vehicle I'd be thrilled! 

Welcome to BP!

I'm so excited! My first project has finally been completed. It was listed on MLS today @noon and already received one scheduled viewing. I'm very proud of my work and would like my BP family to see what has been accomplished. Everything was done in house (my crew of three) except the roof, new A/C, shower glass & staging.

Once the home has sold I'll share the numbers with BP but I'll go ahead and share that I've learned more on this job than the payout ;) STILL SUCH AN ACOMPLISHMENT FOR ME!

4006 Shores Ct 

Arlington, TX 76016

@Matthew B.

Thank you all for the information! BP has helped me connect with a licensed broker in my area. We are scheduling a meeting at the property for further review.  

BP is AWESOME! I'm gathering tons of information from you guys!

@Jason Hirko Yes, I have a property in Burleson that i'm going to rent.

Just need to complete this flip and then I'll start preparing the rental for my first tenants. Scary stuff!!!  

@William Corcoran Thank you! Good to see a fellow BP member in the area, welcome! 

I actually live in the Fort Hood area but drive daily to Arlington for this flip. We are from the DFW (Burleson) originally and I am familiar with the area. I'm focusing a majority of my business here. 

I've always been fascinated with properties. Not just any properties but BIG old mansions. I remember watching Beauty and the Beast and being mesmerized by the castle. So I guess I started kind of young :)

Checked out your profile. Appears as though we have similar ambitions! I'm sure we'll keep in touch as we conquer our goals.

Thank you for your service! 

Appears to be many reasons to join. I can also understand the reasoning to wait. Thank you all for your input!