Posted by Christopher - WA on October 25, 2003 at 01:30:26:
Maybe it was naive of me but my friends houses were all appraising that much higher than were expected so I just thought it was a godsend. The comps were similar houses and similar land but as it turns out they weren’t similarly situated. My seminar was in not going to inspect them myself. (I’ve always been too trusting.)
It’s possible too that the opinion I have now is the one that’s wrong. I’ll get another opinion or two when I’ve finished my improvements - if I’m not bankrupt by then.
Thanks to everyone for their inputs. That’s why I love this site. Some of the details still require experience though.