All Forum Posts by: Sam Horton

Depends on what you're looking to do within Real Estate. Is that equity enough to refinance your position and create more liquid cash for you to go purchase another rehab and buy and hold?

In my opinion, it depends on the appraiser and the appraisal management company you work with. My first question is always how many appraisals they have done in the town/city in which I need the appraisal and how recently. I have had some appraisers come from over an hour away and really lacked market knowledge for my market. 

@Nathan Boyer I'm interested in this as well. Attempting to buy a 3 unit with seller financing. This individual likes the cash flow but doesn't like being the landlord. My pitch is going to be offering that cash flow through seller financing and taking over the management through the purchase.   

@Olivia Lowe Did you receive copies of the master deed and rules and regulations from your realtor? If there is a parking spot deeded to your unit then you should have access to that spot legally. If there is no deeded rights in the deed then at that point it would fall upon the HOA management.

Regarding the hot water heaters that should have been found by the home inspection, assuming you had one.

What @Mike Dymski said and a real estate attorney would likely be in your best interest if you don't have much experience in contracts yet.

@Jacob G. I personally have not used this but a lot of my landlord clients like Zumper. They give you credit score, criminal and eviction, free up to 25 listings. You can take the application through the app and any additional documentation. It also acts as a listing service for the consumer as well. 

@Stephen Stokes Might be MLS member only. I first gained access through my MLS then upgraded to their premium service. If you use a Realtor, see if they have access to the app and can give you a code. Mine would be Massachusetts specific.

@Ken Tsai I use an app called Remine for an AVM model. @John Franklin is right, you could always do an exterior appraisal order. Or even order an exterior BPO. Either way, they are both opinions of value. I'd still lean on a few experienced Realtors first, it's the cheapest option and you could gain a good relationship out of it. 

@Ken Tsai If your not comfortable with the Realtor or haven't worked with them in the past, then you can always contact a few other LOCAL Realtors that could offer some insight into the subjects ARV. Then compare the answers to get a more realistic number.

If you can get the current owner to agree to allow you to have an appraiser walk through the property then you could do that. In my experience that is rare and could work against you if the appraisal comes back higher and the owner wants to see a copy of it. 

@Russell Brazil I like Remine and MLS (not an app but a good tool).