Small rural area, no comps for my duplex. How can I re finance?

[Brandon Crosby]

I bought a duplex two years ago. It is owner carry. I have done extensive remodeling and upgrades and want to refinance the best egg loan I used into the original at a lower interest rate. Lenders here say we have no comps so no deal. Any suggestions?

[Will Chamberlin]

Keep asking lenders. It is obviously worth something, even if you have to do comps on a sq ft basis with SFH nearby. They should also be able to use the income approach to come up with a value. Maybe you can do the math and present to the bank as part of your pitch. Take the hard work out of it for them.