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Updated almost 6 years ago,
First BRRRR deal and needing some advice!
So I am currently finishing up rehabbing my first BRRRR project. It's a duplex and I have the top unit rented and going to rent the bottom when rehab is completed. My concern is the appraisal coming back low. The property should appraise for more than enough but what I've noticed with the few deals that I have done is banks do not appraise properties for anymore of asking price when I originally buy them. This deal shouldv appraised for closer to 80,000 but only appraised for 33,000 which was magically the price I was buying it for. Every property I have bought seems to be this way! Really hoping I can get an honest appraisal of actual worth. What can I do if I feel the appraisal comes back lower than I believe it's worth when I go to refinance??