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Updated almost 4 years ago on . Most recent reply

User Stats

46
Posts
5
Votes
Slade S.
  • Rental Property Investor
5
Votes |
46
Posts

Confidence in ARV and refinance

Slade S.
  • Rental Property Investor
Posted

Today I went to look at my first rental investment property. I am hoping to BRRRR. It is a cash flowing 2 unit multifamily building.

The rent is $700 + $700 = $1400.

I've estimated NOI to be around $11,000. Cost is $85000 purchase + $15000 repair =$100,000.

I'm guessing ARV might be $130,000.

My question is....

How do I confidently come up with the ARV. And this being my first purchase, how can I be confident that a bank will refinance me the 75% of ARV?

Can anyone help me comp and figure out if this is a good move?

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