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Updated over 5 years ago,
Cash Out Refi 8 Unit
I have an 8 unit I bought in April, that Im looking to cash out refi after done with value add. Value add will be increasing rents, lowering dumpster fees, lowering utility costs, new windows and paint. The biggest value add component is the rent increase, the rents are about $300 below market. The interior of the building isnt that bad, doesnt really need much at all, though Ill probably spruce up a couple of the units between now and refi, so my question is, when the appraiser comes in, will they want to see every single unit? When I bought the building, they only cared to see a couple units and the basement, they did not require getting into to every one.