Low Appraisal for a Turnkey Property

Rental Property Investor · memphis, TN · Member since 2009 · 2k+ posts · 3k+ votes

7y

Originally posted by @Ron James:

As a new real estate investor, I decided to ease my way into SFR ownership through turnkey companies. After vetting companies, I settled on two in markets I decided to invest in (1) Memphis Invest, and (2) Memphis Investment Properties. Yes, I confused the two at the start. However, as I selected properties that I wanted to make offers on with each, I learned that the two were very different in at least one important way – at least for me.

The PSA I was sent from Memphis Investment Properties (MIP) had an appraisal contingency that gave me several options if the property didn't appraise for at least as much as the purchase price, including allowing me to cancel the contract. As it turned out, the property appraised above the purchase price and I closed on my first rental property.

However, the PSA I got from Memphis Invest had no appraisal contingency. When I brought this to the attention of my Memphis Invest Portfolio Advisor, she explained that I would have to go through with the purchase even if the appraisal came in lower than the purchase price. She said that appraisals occasionally came in low and that I should be prepared to bring additional funds to closing in case it happened to me. Because Memphis Invest wouldn't negotiate on this point, I didn't commit to buy the property.

As a newbie, I'm wondering which of these approaches to low appraisals in purchasing SFRs (MIP or Memphis Invest) is more common among turnkey companies. Also, are the any circumstances in which an investor should be prepared to make up the difference out of pocket for the gap between the appraisal and the purchase price? Although this doesn't seem prudent to me, I'm open to learning about circumstances beyond my limited knowledge about real estate investing in which this might make sense.

Ron,

It was great speaking with you last night and thank you again for taking the time to talk through your experience with our and for giving me feedback on your ultimate decision to not purchase the property in Little Rock. The best learning for us has always come from listening so I appreciate your time! I also spoke to both Ashley and Allen this morning and they too appreciated talking to you and hated that we weren't the right fit, but happy you took action.

So congratulations on moving forward. I know that was a big relief for you just to get started and I wish you the best of luck as you move forward. My answer to your question about when or if you should close on a property at contract price if it appraises below contract price is...maybe. It depends on so many factors not the least of which is your own comfort in the property, the location, the company or partners you are working with and what your long-term strategy is. I've been on a roll here lately on BP about all of the absolute advice given and this is an example of what is the right decision for one investor may be the wrong decision for another. I know that you are very comfortable with your decision and that is all that matters here.

I know from our conversation that the bigger issue was the lack of a stated appraisal contingency on the contract. Through our conversation, I know that we made you aware that you do not have to close on a contract, but we also never want an investor to sign a contract without being made aware that the only appraisal contingency is if it appraises below our stated range - not the contract price. Meaning that we don't want you to go under contract without being aware that a property may appraise below contract and we still expect you to close as long as it is in the range that we clearly state before going under contract. I know that your biggest concern was the contract itself and I double checked that we do use the Arkansas real estate commission PSA and do not check the appraisal contingency box. After our call last night, we are going to talk as a team and review how each contract is written so they reflect the transparency of our message.

In our conversation, I told you that I have closed on many properties where they appraise below contract price and there was not contingency in the contract. I am comfortable with my decisions as an investor and my knowledge of the deal I am buying. I have also sold many properties personally with the same policy as our company. I price a property according to what I feel is a proper value and is justified by comparable sales and/or the investment return. So whether or not it appraises is not relevant to the deal. The price is the price that I have listed.

In each scenario, the key to question of what to do is transparency.

In the case of Memphis Invest, after completing close to 6,000 transactions and being intimately familiar with the markets, we are very comfortable with how and why we price properties the way we do. We definitely are a market setter both in terms of the level of renovations and the chosen price. But we are also very aware that different appraisers see things differently. That is why we are so transparent with where we believe a property will appraise both high and low and make sure investors are comfortable with the fact that it very well may appraise lower than contract price. That transparency is as a big reason we are able to help investors figure out where their own comfort levels are and prevent them from buying a property and then being upset afterwards. Your scenario is exactly why we are not pushy or try to make investors make quick, uninformed decisions. In the end, we want you to be really comfortable with the decision you make regardless of who you are buying from.

Again, I wish you the best of luck and will be here if you have questions about either BiggerPockets or passive real estate in general or Turnkey real estate specifically. Happy to help. Best to you!

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Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

7y

@Chris Clothier see my comment about banks going away from written appraisals .. I was in CE Monday and that was the talk of the day.. its my mortgage bankers license CE.. at least for owner occ with 20 to 30% down banks and with the back log of appraisers and no one coming into the industry ( appraisal) this is starting to flow through the lending world and Fannie and Freddie buy off on it as well again 95% of what those RMLOs in my class do is owner occ.

So will be interesting to see if this starts to materialize with your buyers.. IE 25% down is the norm on non owner occ and lets say they set fico at 700 or 720 or 740.. and they just use deck top algorithms.. Although this could cut both ways of course .. you may want to have a chat with your lenders about this and see if they have had any conversations with their wholesaler reps on this. sure cuts time lines though.. not having to wait for that appraisal. one could actually do 14 day closes

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Simon Asraf

Rental Property Investor · Aliso Viejo, CA · Member since 2019 · 4 posts · 2 votes

7y

@Ron James

Hi Ron,

Welcome to RE investing! Seems like your post has gotten a ton of traction, but I wanted to add my two cents since I recently bought my first two Turnkey properties this year.

When looking at properties I would say two things are non negotiable: appraisal contingency and having a tenant in place. The first makes sense because you are already paying a slight premium to buy turnkey. There is no reason to start out with negative equity and pay a premium to do so. Any company that doesn’t have an appraisal contingency you should not use.

Secondly, having the tenant in place when you close allows for day one cash flow. Without a tenant in place and if you are using a property management company, you are probably wasting 2-3 months rent finding a tenant and paying the PM company their “finder’s fee”

If you are looking for a turnkey provider in Memphis, I highly recommend MartelTurnkey. I have bought two properties from them this year, including one in Memphis, and it was a great experience. Both sold at or below appraisal, and had a tenant in place when I closed. If you would like an intro to one of the owners, let me know!

Best of luck!

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Peter StewartBusiness Member

Real Estate Broker · Indianapolis, IN · Member since 2018 · 160 posts · 168 votes

7y

I would never purchase a property in a market I didn't know *extremely* well without an appraisal contingency in place. Especially if you are a new investor. Protect your cash reserves and protect yourself from overpaying for a property. Agreeing to pay the difference no matter what the amount is a risky move. Now, I know from both personal and professional experience that appraisals aren't always accurate, and there are other exceptions where an appraisal isn't necessary...but the majority of the time they are. There's a reason why RE purchase contracts typically always have appraisal contingencies in place by default.

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Chris ClothierBusiness Member

Rental Property Investor · memphis, TN · Member since 2009 · 2k+ posts · 3k+ votes

7y

Originally posted by @Caleb Heimsoth:

@Ron James memphis invest doesn’t have an appraisal contingency becaUse about 30 percent of their properties don’t appraise (that’s directly off another BP thread).

When I was doing turnkey I chose to not go with Memphis invest for this reason. You’ll be negative equity from the start. Don’t buy you many TK propeties; they don’t typically work out long term

Hey Caleb, Memphis Invest does have an appraisal contingency and we are very transparent on it from the get go. We give investors a range based on our experience with appraisers and crap-shoot that investors face based on who is doing that appraisal. That range will be anywhere from $0 meaning that we are confident it will appraise at contract price or above to $20,000 meaning it could appraise up to $20,000 below contract price. Again, 16 years and almost 6,000 properties gives a few data points to look at to help us be transparent.

So, if the property appraises outside of that range, there is zero expectation on our part. What is expected is that an investor can make an informed decision prior to going under contract on their comfortability with the range and the expectation. I will also note that while it is frustrating to have an investor not close on a contract when a property appraises below contract price but in the range, we not in this business to keep earnest money. Our reputation for doing the right thing speaks for itself so the real risk is limited to none so long as we have been upfront.

Lastly, I wanted to update you the old data you are referencing. So far, this year appraisals on closings that come in below contract price are just below 25%. In the month of July for example we had 52 appraisals and 16 appraised below contract price (30%). Of those, the most egregious was a $17,000 property that we had prepared the investor may come in as low as $20,000. A majority were in the $3,000 to $5,000 range with the average being right at $3,000. There were however 36 properties that appraised from $100 to $12,100 over contract price. Of those, 24 were below $1,000 and eight were above $1,000. As a company we did not make nor did we ask for any concessions on any of those and all 52 closed exactly as the contract stated.

In August so far, we have had 20 properties close to date with appraisals and five appraised within the range but below contract and by an average of $3,400. Of the other 15 properties, four have appraised well over contract price with two appraising over $10,000 above contract. This month we made one, minor concession on one of the properties that appraised low and that was based on the length of time that particular investor had been with a client with our company.

I know you make a lot of posts and have invested here in Memphis so you chime in often on Memphis Invest posts which is great. Just wanted post more up to date data and make sure I challenge that one statement about what we do or don't do on appraisals. I think the key to all of this is transparency and being up front about possible outcomes before going to contract and understanding what contingencies do exist.

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Chris ClothierBusiness Member

Rental Property Investor · memphis, TN · Member since 2009 · 2k+ posts · 3k+ votes

7y

Originally posted by @Jay Hinrichs:

@Chris Clothier see my comment about banks going away from written appraisals .. I was in CE Monday and that was the talk of the day.. its my mortgage bankers license CE.. at least for owner occ with 20 to 30% down banks and with the back log of appraisers and no one coming into the industry ( appraisal) this is starting to flow through the lending world and Fannie and Freddie buy off on it as well again 95% of what those RMLOs in my class do is owner occ.

So will be interesting to see if this starts to materialize with your buyers.. IE 25% down is the norm on non owner occ and lets say they set fico at 700 or 720 or 740.. and they just use deck top algorithms.. Although this could cut both ways of course .. you may want to have a chat with your lenders about this and see if they have had any conversations with their wholesaler reps on this. sure cuts time lines though.. not having to wait for that appraisal. one could actually do 14 day closes

So Jay, I have a question for you. It seems a lot of posters are adamant that appraisal contingencies must be in place so prices are reduced. I think we both would agree that from a 30,000 ft level, that is good advice especially for new investors. Better advice would be to get on a plane, meet who you're going to do business with in person to see for yourself if what you are being told as a sales pitch matches reality on the ground. But I digress. I actually have another question for you.

You and I have been in this particular niche for a very long time and between us dealt with directly or seen just about every Turnkey company out there - the good and the bad. I want your opinion on this.

We know that there are companies in this industry who purposely inflate pricing without adding any value. In other words, do as little work as possible, but price the property like it is a premier, top of the line renovated property. Then offer appraisal contingencies as a selling point. They are simply betting on the fact that an appraiser will appraise high a majority of the time and they keep the windfall profit even after reducing the price of the home.

I think this is just as bad for investors as buying "12 month no maintenance guarantees" and the "we'll buy your house back" guarantees. They are designed to entice new investors to have a high level of comfort even though there is a high likely hood that the investment itself is worse. It is preying on the buying mentality of most consumers by jingling a shiny object over here, hoping they won't look at the poorly renovated investment over there.

We've both seen this happen for years and for the sake of readers, I want your thoughts on this.

***I'm not saying this is the case with this house. It does happen and not just in the Turnkey industry and simply saying that black and white, you must have a contingency and it is a always good thing if they will drop the price is...well, not always good.

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Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

7y

@Chris Clothier well Clayton Morris comes to mind of the worse of the worse I have witnessed.

those that give inferior product usually don't last to long.. so longevity in the market place is a key indicator.

right now I see the TK industry if we can call it that somewhat stressed.. to do full renovations like your company does you simply have to move up in asset class and price points.. you cannot do a full rehab on a 75k exit property MOST of the time.

so something has to give..

The wholesaler community has not helped this at all.. with everyone and their brother jumping in.. then wanting to make 10 to 20k or more on a wholesale flip this drives up prices as well and when that happens renovation budgets get paired back.

The other thing I see happening frankly is the investors themselves they all have this saying ( My Criteria ) and basically they read on BP or other places about your failing if you don't get a 10 or 12% return or more etc etc.. we see this on BP as well Hey why are you buying there when you can get double digits here.. .. And again with those ( especially turn key ) as they are new they just don't know the risk they are taking for those returns.. I know many companies realized this long ago and moved up and out of certain asset class's as it just not sustainable for the investor or the TK company.

I mean really what's the difference in a 150 cash flow and a 200.. its a whopping 600 a year.. but to those that are focused on % returns they just look at that with no context to the risk they are taking..

and what kills landlords ??? Turn over Cap ex and tenants that are under the median income of an area.

But median income or median price point houses in most MSAs are not the highest returns out of the gate but have the stability and the ability to raise rent and you can do a much nicer job on the reno to cut down on major expenses.

so bottom line we are talking about 30 to 60 year old homes generally speaking.. and most of the componants are beyond useful life.. so to get a home that is going to treat you well over the next decade you need.

1. new roof 6 to 10k

2. New Hvac 4500 to 6k

3. upgraded panel and electrical and all wall sockets etc 3k or so.

4. A real paint job and calking 3 to 5k

5. And this is a big one new energy effiecient windows.. 5k and up.

6. new doors and trim packages 3k or so.

7. new cabinets and appliances 3 to 4k

8. new water heater and vented properly 1k

9. and this is a big one NEW Sewer line to the street if its not PVC already.. 2 to 5k this one catch's many flat footed.

10. Flat work replaced or repaired..

11. little bit of landscaping

12. new light fixtures.

13. tenant proof flooring..

And so to buy a rental that your going to have a solid 10 year run on.. there is no way your doing 10 to 15k renos So U simply get what you pay for..

And of course I stole this one from you.. there is a vast difference in a 1200 to 1500 dollar renter than a 600 dollar renter VAST.

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Ron James

OP

Rockville, MD · Member since 2019 · 19 posts · 13 votes

7y

@Account Closed If you’ve figured out how to make buying rent houses work in Rockville, I’d really like to talk with you.

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George Pauley

Chandler, AZ · Member since 2017 · 174 posts · 269 votes

7y

I'm currently purchasing turnkey properties 12-15, and have dealt with 5 different providers. I've had a number of properties fail to appraise for the asking price. Usually it's less than $1k and I just write a check. Three times the appraisal has fallen significantly short. One of those times the provider successfully contested the appraisal. The other two times the providers gracefully allowed me to back out of the deal and returned my earnest money. I still remember what one provider said as I was backing out: "I want to make sure you are going to continue to buy properties from me!"

Point is, I don't think Memphis Invest's position is the prevalent one in the turnkey market. You don't have to accept this from Memphis Invest as there are plenty of other options. In Memphis, both Memphis Investment Properties, and MidSouth Home Buyers, are excellent turnkey providers.

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Axel MeierhoeferPro Member

Rental Property Investor · Escondido, CA · Member since 2017 · 679 posts · 550 votes

7y

@Chris Clothier Thanks for your posts on this. I believe transparency is highly important and agree with the point about a visit. In your book, you pointed to the long term nature of each deal. That's what I tell my friends when we talk about onsite visits. I literally ask them: "how many times have you bought anything worth $100K+ sight unseen?"

As much as there is a huge learning curve and I am still at the lower end of it, I believe we should aim to recognize duties on our side as investors. I want to make informed decisions. When I last talked to Mike and Ashley I just told them that I don't like any offers for properties where you expect a high risk of appraising below asking. My duty was to articulate it and their duty is to find the right properties. With that understanding in place, we will have no issues. Any guarantees and stuff like that are, as my grandpa used to say in German "Jewelry on the night-gown".

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Ricky Davis

Investor · Searcy, AR · Member since 2018 · 52 posts · 39 votes

7y

never buy a property without an appraisal. I would not buy a property over the appraised value. Number 1, the bank will only loan on appraised value. Number 2, you are not an investor at that point. you are a speculator!! You are praying that the market will go up. My advice is to find a very good banker to work with. They will not let you screw up. They want you to succeed because they do not want the property back.

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Chris ClothierBusiness Member

Rental Property Investor · memphis, TN · Member since 2009 · 2k+ posts · 3k+ votes

7y

Originally posted by @Peter Stewart:

I would never purchase a property in a market I didn't know *extremely* well without an appraisal contingency in place. Especially if you are a new investor. Protect your cash reserves and protect yourself from overpaying for a property. Agreeing to pay the difference no matter what the amount is a risky move. Now, I know from both personal and professional experience that appraisals aren't always accurate, and there are other exceptions where an appraisal isn't necessary...but the majority of the time they are. There's a reason why RE purchase contracts typically always have appraisal contingencies in place by default.

Quick question Peter, I don't know if you represent sellers as well as a broker, but do you give the same advice to your sellers?

Say you and a seller have settled on a price of $100,000 for a property and it is up to date and priced fairly and with comparable sales to back it up. So, your seller is comfortable that $100,000 is the right price. Would you advise them to accept an appraisal contingency from a buyer? What if they don't want to? What if they don't and it appraises short by $10,000? Do you advise them to take the lower price? At the same time, what would you say if you represented both the buyer and the seller?

On the one hand, you can see where the property is absolutely worth $100,000 and you agree that it is a proper and good price. On the other hand, an appraiser disagrees and has an opinion that is $10,000 lower. What advise do you give?

I'm not attacking you at all or your comments. I want to know from your stand point if you feel it is always so absolute and if you give the same advice to sellers that you give to buyers.

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Russell BrazilBusiness Member

Moderator

Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes

7y

Originally posted by @Ron James:

@Account Closed If you’ve figured out how to make buying rent houses work in Rockville, I’d really like to talk with you.

Rockville is 1/3 investor owned....just like almost everywhere else in the entire country. It certainly works out great for the third of us thay do own in Rockville.

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Peter StewartBusiness Member

Real Estate Broker · Indianapolis, IN · Member since 2018 · 160 posts · 168 votes

7y

@Chris Clothier I don't mind the questions at all, and I am a listing specialist so yes, I go over appraisal advice with sellers all the time. However, the seller advice is not really relevant to this discussion - at least not to my answer. The OP asked a question as a buyer, so the advice given is for a buyer, not for a seller. And no, I don't believe any advice is absolute, there are always exceptions (for the most part).

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Jonathan Oh

Investor · Las Vegas, NV · Member since 2019 · 499 posts · 259 votes

7y

Originally posted by @Matt M.:

@Ali Boone

As an investment, why would you pay market value? Why wouldn’t you look for better deals or buy properties needing rehab and GC it yourself? I do not have any experience with TK other than what I’ve read on BP, but it sounds like a lot of the companies are turds, and I can only imagine the quality of their rehabs being the same. But I could be very wrong..

It's simple. Not everyone has the time or interest to pull off anything involving rehab especially from a different state. I'm all for people to dive in and learn the ropes, but there's a whole another world where people don't mind paying a little more to invest more passively.

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Matt M.

Specialist · Easton, PA · Member since 2018 · 1k+ posts · 2k+ votes

7y

@Jonathan Oh

If that’s the case then fine, but why would anyone buy an investment at market value? By rehabbing myself I get instant equity and good cashflow. Making $100/door monthly cashflow on a house with no equity makes no sense to me.

Here is examples of my last 3 purchases-

#1 paid $23,100, rehab $14k. Rents $1200/month, market value $105k

#2 paid $40,000, rehab $15k. Rents $1100/month, market value $95k

$3 paid $60,000, rehab $10k. Rents $1250/month, market value $125k

To me, that is real estate investing. Sure, I do the rehab myself, but even if I didn’t and bought a TK, it seems as if there’s no equity and not much CF.

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Chris ClothierBusiness Member

Rental Property Investor · memphis, TN · Member since 2009 · 2k+ posts · 3k+ votes

7y

Originally posted by @George Pauley:

I'm currently purchasing turnkey properties 12-15, and have dealt with 5 different providers. I've had a number of properties fail to appraise for the asking price. Usually it's less than $1k and I just write a check. Three times the appraisal has fallen significantly short. One of those times the provider successfully contested the appraisal. The other two times the providers gracefully allowed me to back out of the deal and returned my earnest money. I still remember what one provider said as I was backing out: "I want to make sure you are going to continue to buy properties from me!"

Point is, I don't think Memphis Invest's position is the prevalent one in the turnkey market. You don't have to accept this from Memphis Invest as there are plenty of other options. In Memphis, both Memphis Investment Properties, and MidSouth Home Buyers, are excellent turnkey providers.

George, I agree with you on your post. The way we operate from beginning to end is not the prevalent way a majority of companies operate and holding the price is just not something most companies can do. And we would be absolutely failures if we expected investors to just accept how we operate. We want investors to connect real value with the way we operate and for those that do, we are the right fit. And there are plenty of options for investors not just in Memphis but also other markets. From price point to location to level of renovations and management services, investors have choices that match their expectations. Three other companies out there are Memphis Turnkey, Memphis Cash Flow and Buy Memphis Now. There is some overlap between all of these companies, but also some specialty in that list. To your point, find out who you are most comfortable with and realize you have choices (at least as I read it). Hope you keep finding success with your portfolio. Best -

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Ali Boone

Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes

7y

Originally posted by @Caleb Heimsoth:

Which assumption are you referring to? The 1 Percent rule assumption is based on my experience.

Yeah, when you said buying at the 1% rule will at best let you break even long-term. How long have you owned your turnkeys to have the experience to say that?

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Ali Boone

Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes

7y

Originally posted by @Matt M.:

@Ali Boone As an investment, why would you pay market value? Why wouldn’t you look for better deals or buy properties needing rehab and GC it yourself? I do not have any experience with TK other than what I’ve read on BP, but it sounds like a lot of the companies are turds, and I can only imagine the quality of their rehabs being the same. But I could be very wrong..

It's totally true some turnkey companies can be turds, for sure. But there are plenty that are not. Of course I'd rather not pay market value and make higher returns, but I have absolutely zero (possibly negative) interest on working on my properties. I have no interest in managing rehabs, spending time on my properties, or having the headaches (of which I would have a lot because I just don't like that stuff). I prefer to hang out at the beach or go snowboarding. So, I am more than happy to pay market value since it means I don't have to work on my investments or spend time on them.

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Ali Boone

Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes

7y

Originally posted by @Ron James:

@Ali Boone I'm in Memphis because the numbers work for me there. I'm also looking for properties in Kansas City and Atlanta.

Just always curious people's draw to Memphis when there are higher cash flow markets elsewhere. Atlanta is pretty squeezed these days too. Kansas City has been good, for sure.

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Ron James

OP

Rockville, MD · Member since 2019 · 19 posts · 13 votes

7y

@Simon Asraf I would appreciate an intro to MartelTurnkey's owner. Thanks.

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Ron James

OP

Rockville, MD · Member since 2019 · 19 posts · 13 votes

7y

I agree with you that Atlanta is tough. Where have you found higher cashflow than Memphis?

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Simon Asraf

Rental Property Investor · Aliso Viejo, CA · Member since 2019 · 4 posts · 2 votes

7y

Originally posted by @Ron James:

@Simon Asraf I would appreciate an intro to MartelTurnkey's owner. Thanks.

Hi Ron. Reach out to @Antoine Martel. He is my main point of contact at MartelTurnkey, and can definitely help you in your search for turnkey rentals in Memphis.

Antoine - Ron is looking for turnkey rentals in Memphis, and I highly recommended your company to him. One of the turnkey provider companies he is currently using does not have an appraisal contingency which is why I think Ron would definitely benefit from your services.

Let me know if either of you have any questions!

1 Reply

Tony Kim

Rental Property Investor · Los Angeles · Member since 2018 · 844 posts · 1k+ votes

7y

Originally posted by @Ali Boone:

Originally posted by @Ron James:

@Ali Boone I'm in Memphis because the numbers work for me there. I'm also looking for properties in Kansas City and Atlanta.

Just always curious people's draw to Memphis when there are higher cash flow markets elsewhere. Atlanta is pretty squeezed these days too. Kansas City has been good, for sure.

Hi Ali Boone, I have one TK in Toledo and if I were to purchase more, I would be inclined to stay in that area. But your post has made me curious. Can I ask what areas you feel are higher cash flow markets than the cities you mention above? Thanks!

1 Reply

Tony Kim

Rental Property Investor · Los Angeles · Member since 2018 · 844 posts · 1k+ votes

7y

Originally posted by @Marco Santarelli:

Originally posted by @Jasmine H.:

@Marco Santarelli this is off the topic but my husband and I really enjoy listening to your podcasts! Keep em coming!

Awe, shucks... Glad you like my podcast!

Thanks Jasmine! :-)

I've been listening to them as well and I've really enjoyed them too. I've definitely learned plenty and they also keep me motivated!

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Low Appraisal for a Turnkey Property

Low Appraisal for a Turnkey Property

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