Trying to BRRR with minimal comps

[Mark Schimmoeller]

Hello BP! i'm looking at a Quadruplex that is fully occupied, but is renting well below market. However, i'm struggling to find great comps because no 4-units have sold in the area recently. With so much riding on the appraisal, is this just too risky to get involved in? If i were to use the price/sq ft of similar duplexes to come to an ARV, the numbers check out, just not sure this would be reliable. Another issue would be: since it is fully occupied, i would not be able to renovate each unit until each tenant moves out, increasing the amount of time i have to carry the hard money loan. Does anyone know of a way to make such a deal work?... or am i better off hunting for a duplex to BRRR?