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Updated over 5 years ago on . Most recent reply

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30
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Lee Mast
  • Rental Property Investor
  • Fort Collins Colorado
24
Votes |
30
Posts

Will two empty units in a Triplex affect my appraisal for a refi?

Lee Mast
  • Rental Property Investor
  • Fort Collins Colorado
Posted

Hey BP Masters as my title says, I'm about to apply for a Cash out Refi. I unexpectedly had two tenants break the lease and move out. I'm using this opportunity to "freshen up" the apartments and I'm sure they will rent within a week or two but I'm just wondering if having an empty apartment would dock my refi appraisal? 

Thanks in advance!

Most Popular Reply

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2,879
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Mary M.
  • Rental Property Investor
  • Portland OR
3,369
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2,879
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Mary M.
  • Rental Property Investor
  • Portland OR
Replied

I would assume yes since they will use the income from the units as proof of the value of the rental and possibly as income to help you qualify 

I would get them stabalized then do the refi

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