All Forum Posts by: Justin S.

@Craig Norris Thanks for the advice.  We are marketing to potential sellers on there now so we will see how it goes.  So far I've had about 30 leads but no conversion yet.  The ones I know doing say they need 80 leads to convert one.  I will let it run for a few months and see how it goes.  Cost per click is only $0.25 where Google adwards is 10-20x that number.  

@Dev Horn - Thanks for the feedback, I appreciate it.  

@Dev Horn - This is an old thread, but how did you FB campaign go?  I started one, and I get quite a bit of website clicks but no converted leads yet.  Was wondering how your ad went?

thanks

@Ryan Dossey - We write 52 offers for every one that we close.  Hope that helps.  

@Roger G.

In situations like this, I will try to get the FHA appraisal removed the property. Sounds like you have a good case since they discounted a bathroom when it sounds like they should have counted it. You could get the tax records changed to show the bathroom? Any future FHA offers on this property you could argue the appraisal was done wrong because of the bathroom. Some lenders will go to bat for you on this stuff (they want to get paid too.)

I also keep notes of which lenders use "strict" appraisers, I won't accept future offers from that lender. When do you a lot of flips, you will find quickly which lenders are not flip friendly. I try to get to them use my lender by paying for the appraisal and they close FHA and VA loans in 2-3 weeks.

If you are not doing so, you should also be sending the appraiser any comps you like and total remodel costs.  I've found this to be useful.  They will likely come back with any questions about the house and we can get them addressed before its "permanent".  I've had them ask for additional costs, comps ,etc to help get a house appraised.  Treat them like a team member, not an enemy.    

I think ignoring all offers that are FHA, VA, USDA is a bad move for a couple reasons:

1.  You are more likely to get multiple offers which greatly enhances your negotiating power.  

2.  If you control the process better, you should be able to avoid low appraisals. (providing comps, remodel costs, using your list of preferred lenders, etc).  

I hope this helps, good luck!

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Congrats @Alex Applebee, house looks great and a nice profit to go with it.  

@Yetzul Werner - I almost buy exclusively from the MLS. Right now we average one purchase for every 52 offers we write. That should help you gauge how many it takes. We also do followups for every offer we do not get excepted. We've purchased properties months after writing our initial offer. Good luck!

Nice feature, just check the phx one and not much activity yet but looking forward to the posts.