All Forum Posts by: Neil Goradia

@Dan Trinh, @Orr Kichin, check out this interactive map that Sourabh created! Pretty handy!

@Jessie Creighton, Awesome! Glad you found a REIA... you will be investing in no time! :)

@Angelo C., agreed - they wanted to be transparent about it, because they purchased the home with FHA financing to begin with and it passed.

While I understand now that it's not illegal to talk to the appraiser, it should be illegal to try and influence them. So, where do you draw the line with what you tell them, you know what I mean? I think it's almost a grey area and I just wanted to avoid it all together if possible, which I know isn't easy to do.

Thank you all for your responses! I think most of the k&t is dead, but there is one that is hot, which I think we could just swap out with new wiring if deemed un-safe. Interestingly enough it was approved for my clients purchase of the house 5 years ago via FHA...which is why we thought it was all good to go.

@Greg H., Yes the appraisal sticking to the home for 90 days is what my issue is. I'd rather the appraiser have done their own inspection first rather than her telling them right away that k&t exists. How do I go about asking them for another appraiser? Is it as simple as asking or do I have to substantiate it with a good reason?

@Dennis Weber if you do a search here this topic comes up often. You should have a long list of phone numbers to call in no time. Good luck.

I have a house listed and the selling agent brought a client to the house, who ended up not being interested. However, the selling agent herself became interested and we ended up accepting an FHA loan offer from her to buy the house.

I find out yesterday that she knows the appraiser and is texting back and forth with him, potentially about some knob and tube she spotted while walking through the basement. Is this illegal for her to be talking directly with the appraiser? If so, how do I ask for an independent appraiser to replace the one that has been picked? And who's responsibility is it to pick the appraiser on an FHA deal? Thanks.

@Jocelyn Borg, I understand where you're coming from. I had to think about wholesaling for a few years before I jumped in because I had the same concerns. After I learned more about it, most of those concerns went away because you can put your own spin on it to avoid any ethical breaches. 

That being said, if you're set on avoiding it due to moral concerns - don't feel obligated to refer them to other wholesalers, especially if you think they would be taken advantage of. On the other hand if you get to know some wholesalers and find a few that are more ethical then maybe you could refer people to them. At the end of the day, my belief is that wholesalers do fulfill a need, and it can be done ethically for a win-win as long as they aren't greedy.

@Devlin Quarles, just look here on Bigger Pockets. Under the tools menu, it is called FilePlace and there are forms for wholesaling. I'd just double check with someone local in Maryland to make sure they would work for your state. Good luck.

@Ethan Anderson, we use Westfield Insurance out of Ohio, and they've been really cheap when you have multiple properties. We also filed a claim a few years ago and they were prompt with payment. I'd recommend. Not exactly a small insurance company but you might get them to provide a quote.

Hey @Evan C. Davies, welcome to BP! I live on the northwest side of Indy and could meet up anywhere around there or Carmel. Give me a buzz or text and we'll be sure to connect. I'd also like to hear more about what you're doing as a commercial RE analyst.