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Updated about 4 years ago on . Most recent reply
Appraisal: Income vs Comps
Buying a fourplex that I would like to rehab. When I go to refinance are appraisers going to be looking at income or comps? I know it would appraise much higher if they are looking at income. I don't want to put too much into the rehab if I can't get it out. Any knowledge on this? Thanks!
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Bill B.
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Bill B.#1 Real Estate Deal Analysis & Advice Contributor
#1 Real Estate Deal Analysis & Advice Contributor
- Investor
- Las Vegas, NV
I woulda assume comps on anything less than 5 units. How was it appraised when you bought it?
Ps. With today’s low cap rates you might actually get a lower appraisal based on income than comps.