All Forum Posts by: Stephen Glover

@Jay Hinrichs the idea of having a valuation already set by an appraiser subject to a reinspect after the work is complete is pretty slick! Definitely an unconventional way of thinking.  I like it.

A Turn Key BRRRR sounds like a dream come true...

@Patrick Johnson there was definitely more than one Podcast, so you could be right with #295 also.  #314 was the one I was referring to specifically but there was one or two other podcast episodes that mentioned it as well.  All good information!

@CJ M. I agree completely. The bank had a pro forma, repairs/renovations, CMA, etc in advance but it was never communicated to the appraiser. However, it's my thinking that since the bank had this information up front, they were more willing to consider a revaluation. Had they not, they might have sided more with the appraiser. Plus, I was able to send all of the same information to the bank again, CCing the appraiser, so the bank knew I wasn't modifying or changing any of my original information due to the low appraisal.

I've had banks see the process of the BRRRR method and rapid appreciation and think I'm creating some sort of loophole... but some banks get it and empower the investor.

@JD Hawkins it's all listed on page one of this thread if you want to check it out... and we've identified the podcast as being #314 with Andresa Guidelli. That's what helped me know what to do.

@Brad Ruttenberg Check out podcast #314 with Andresa Guidelli.  

The appraisal company was a national one with little knowledge of the area I was investing in.  It was off the mark in a few ways, but the appraisal company and bank were glad to revaluate after getting more information.  The information I provided is listed on page 1 of this thread in case that helps.

@Bhaskar Pusuluri I went back to the appraiser to better understand his methods and mindset, then provided data based on the methods he uses to show the house had more value. One page one of this thread I listed the exact information I provided in case that helps!

@Hunter Adams you're right.  @Daniel Kong - like Hunter and @Jean H. said, #314 with Andresa Guidelli might help your situation.  That's the main podcast I was referring to for sure.

@Daniel Kong  You're on the right track.  Exactly what I provided and it worked.  As with any relationship be careful not to step on toes and treat the appraisers with respect.  I think that went a long way with my situation.

@Jean Haisch excellent!!! That sounds right. Thank goodness for that podcast.

@Robert Kirkley Thanks! That might be the one that indirectly saved me $24K :)