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Updated almost 4 years ago on . Most recent reply

User Stats

35
Posts
8
Votes
Edward Dandrea
  • Rental Property Investor
  • New york
8
Votes |
35
Posts

High appraisal looking for advice

Edward Dandrea
  • Rental Property Investor
  • New york
Posted

I bought a 5 unit for 114,000 3 years ago I did some Reno and the building NOI is near 35k a year

I am applying for a HELOC to buy more and Pat of the process is getting an appraisal.

I'm not sure what to expect or how I can contribute to getting the highest possible value.

I don't want my cheap purchase price to hurt me. I figure if it makes 35k then 10% cap puts its value around $350

Any advice ?

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