All Forum Posts by: Svetlana G.

We do have an appraisal contingency.  The net price was very close to the appraisal after they asked us for 3% back. Originally, our realtor told us that if the appraisal comes low we can always adjust the amount that we are giving back to the buyer. If we were to remove the 3% back and settle on the appraisal amount, we would still be fine. However we are learning just now that they cannot purchase the house without that 3% buyers subsidy. Beyond frustrating.

We just received lender's appraisal on the  property we area selling. While the market is very hot in our area and houses are moving quickly, I am puzzled why comparable houses (number of bedrooms, bathrooms,  total sq. ft) that sold within the last 2-3 weeks were not included in the report, while those that sold almost a year ago are included.  Has anyone challenged appraisal, on what basis and was it successful?

Grateful for any insight you may provide!

Russel, that’s  because you are a super star!!! We also saw things going very well in our area/neighborhood in Rockville. Finally we renovated our house and put it on the market, after 25 showings in the first 10 days and very good feedback there were only two offers: one was terrible and the other one, which we accepted, includes 3% back to the buyer. We have seen worse(dated, worse street) houses going for more and quicker a month ago, not sure what to think.

I've been considering Buy and Hold, however it is not a viable option for me at this point I feel it is better to invest money into a syndication. 

Can anyone recommend any syndications with a good track record. Thanks in advance!

We are working on a project and I reviewed the pricing/ invoice provided by our contractor. He broke down everything by labor and materials. Specifically, my question is about the pricing for one item. I looked up the system he is using for reinstalling a closet doors. He quoted materials only as $60 per door + a separate fee for labor, the exact track system (I double checked the item number on the box) at home depot is $12.98, he needed some additional items, wood and small screws, which add up to $10 at most!!!  is this a common mark up???  I understand that they charge for their time and effort to go and pick up things from the store....but still. 

I sent them a note asking to double check their receipts and update the estimate provided accordingly. What is the right approach here?

Thanks in advance!

Thank you so much- both responses are super helpful!

We are trying to clear the basement and have the following items in great condition: new patio set, almost new lawn mower, hedger and bunch of lawn care items. Is there any advantage to leave it for potential tenants. Also, if you are renting a SFH, who take care of landscaping and yard care?

Thanks so much for your help!

@Mary K, thanks a million. Super helpful!

@Mary K. thanks so much, yes there is defiantly some cash flow, based on initial calculations. I am more worried about major things braking, i.e. AC, furnace, etc and having that as an additional expense. Do you rely on home warranty for your rentals? Do they really do what they promise to do or it is painful? Thanks so much!