All Forum Posts by: Ryan Romero

Hi everyone! I'm a newer member of Bigger Pockets and was hoping to get everyone's take on my situation. I'm likely considered by this group as a rookie investor. I've only done four deals (working on my fifth now). Here's my challenge.... I have a property in Utah that I put on the market a month ago. Its in a very hot market and neighborhood where they've seen sharp inclines in values. I listed the property @ 250K received an offer same day from a nice young couple as their first home purchase. I was worried from the start as they are doing an FHA and knew this market has zero inventory which is why I priced the property at the top of the market. The problem- you guessed it, the HUD appraisal came in 25K less than the agreed purchase price. Even worse, the appraiser is a PITA (pain in the ***), my agent appealed once as did the lender! Which I've never even seen before.

Here's the worst part, I had a long time tenant (7 years) that was in the property and already agreed to move out. So now, I have a vacant rental., no tenant and no sale. Any ideas? I've already posted the property online to rent again so hopefully I can get it filled pretty quick. If I cant figure out a way to do this deal then I'll sit on the property for a while- increase the rent so I can cashflow a little more, then perhaps do a cash out refi so I can have some more cash for my next deal! 

Thanks in advance for your advice! 

Hi everyone! My name is Ryan Romero and I'm an investor in Scottsdale Arizona. New to the Bigger Pockets crew! I joined so I could network with like minded individuals. 

In our world, I'm likely considered a rookie investor as I've only done three deals. I'm working on my fourth which will be my first 1031. Currently looking for a great deal on a multi-family property in the Phoenix/Mesa/Tempe valley. 

I'm also always interested in meeting new lenders! You can never have too much money right!? 

I'm very excited to join this community! If I can ever be of assistance please dont hesitate to reach out. In addition to REI, I'm also an experienced property and maintenance manager. An awesome handyman and a horrible dancer! :)