All Forum Posts by: Najat F Kessler

Update: I offered 340K as the bank appraisal priced property and seller refused. I walked away from deal.

Update: Seller requested appraisal came back with property a 380K 

@Anthony Fontana

Hi Anthony: thank you for your recommendations I love them.

Property located in Providence, RI

@Steven Picker

Hi Steve: What does arv stand for?

@Bjorn Ahlblad

Thank you for your reply. A bank is involved and they are the ones who ordered the first appraisal. When it came in so low they asked for a thorough revision and they got the same 340K.

We had a home inspection and have received a quote from a contractor. The major repair is a structural problem in the front balconies (which I will remove all together if deal goes through)

I made an offer on an offer on a multifamily 3units.

The appraisal came back around 50 K below the negotiated price and 70K below the original asking price.

The house needs some repairs around 15-20K. I am not sure but I think the house is worth around 360K. The rental income would be 3700-4000/month.

The seller has ordered and paying for a 2nd appraisal and we are waiting for that to in.

How would you handle this situation? What does this mean?

Please enlighten me with your expertise.

Thank you!

:) I hear you!

I am working on my first deal and I am wondering how much insurance should I buy and what must be covered in insurance for a multifamily 3 units investment property?

What are the must-absolutely-be-covered? What are the optionals? And how much deductible? Or should I avoid deductible amounts all together?

Thank you for your help!

Thank you Anthony @Anthony Thompson Thank you very much for your insights and input! Much appreciated. 

Thank you Brandon! I would love to connect with you as well. Do you attend the investors meetings in Providence?