Tips when refinancing Multifamily

[Luis Valdez]

I've done improvements to my multifamily and I am looking to refi. Loan officer is asking for the value of the property. How can I give him an accurate price with going over or under the value of the home?

[Andrew Fernquist]

Hey Luis,

That's a good question. When you say "improvements" do you mean that you've made some changes to the units or that you've actually been able to improve the NOI (either through increased rents, decreased expenses, or both)? If this is commercial my assumption is that you'd take the NOI / CAP rate to get to your value number.