All Forum Posts by: Wendy Fate

I have made this same mistake, early on in my hosting experience.  It was my mistake for not keeping up with my prices, so I ate the loss.  I can't imagine expensing the consumer for my own negligence and growing pains in running a new business.  

Learn from it and get better.

I now have a system of checking the listing monthly.  Solved.

@Kimberly Norris Thank you! That would be great!

If you are not familiar, Bluff City is this adorable little town on your way from Johnson City to Bristol TN.  It is quickly becoming a blossoming area for real estate investors.  As nearby Piney Flats takes off, Bluff City is getting it's own facelift with newly paved roads and new water/sewer lines.  It is a charming community with great views and friendly neighbors.  We are 4 miles from Bristol Motor Speedway NASCAR track which brings in a lot of revenue.  Message me with any questions or referrals.

@Martha Nowlan Thank you! I appreciate it! We are in Bluff City, so anyone in the area will do.

@Jonathan Greer Thank you so much! I will do that!

The conflict of interest with the listing agent was just that she made an offer to buy it right after we signed her listing agreement, leaving us with no one to represent us or get another opinion on the value.  We respectfully let her go because we felt uncomfortable without representation by a neutral third party who could evaluate the deal without prejudice.

We decided to just start over and let that deal go, starting fresh with a new listing agent.

Let me explain more about our property for sale.  It is our current home that we turned into a beautiful house hacking rental.  We live in the 4 bedroom, 2 bath main level and rent the fully furnished and newly renovated 3 bedroom, 1 bath daylight basement (complete separate living space).  We have had great fun and made good money on Airbnb!  We now want to use the capital from selling this house and buy a 4 plex (live in one unit and rent the other 3) and possibly a second property.  We love the house, but with all of the kids gone and in college, we don't need this 7 (actually 8) bedroom house. Having tried it out on this property, we are now ready to scale up.

Please let me know if you know a good Realtor in my area. 

Here is my Airbnb Ad for the basement rental:

https://www.airbnb.com/rooms/13731457?s=51

Here is a listing we started with another Realtor, but had to cancel due to conflict of interest.  Nothing personal.

https://www.realestate.com/487-kentucky-ave-bluff-...

Does anyone have a good referral for a Realtor in the Johnson City, Bristol area?  We are looking for an agent to list our home and establish a relationship for future business.  We are currently in the market for a multi family once we sell our home.

@Hillary Gries The appraisers we spoke to didn't seem to understand that. Thank you! We will call another appraiser who does.

@Nik Moushon Thank you, Nik!! I thought the same thing about the "no commission" deal at 5% below asking price. Hmm. I appreciate your feedback greatly. We should have done more due dilligence instead of letting her come up with the value. I just assumed the market would reveal what it's worth once people came through and saw how nice it is and that the basement rental would come furnished with everything. They would outbid a full pruce offer if they want to live for free with a minimum of 1,500/mo. plus end up with over $300 in cash flow. Basically, 5 bedrooms/2 bath house free with a little cash flow on the basement. We should probably just wait and let other people see it.