OUT OF STATE INVESTOR IN DETROIT

[Desmond Dunn]

I am an OOS investing looking to purchase Multifamilty properties using the BRRRR strategy. I wanted some advise as far as the ARV. With many discounted properties being bought everyday figuring out the ARV has been a little difficult. Would you recommend that I get an Appraisal on the properties prior to purchasing them to help nail down the ARV or rely on agents to find the ARV?

[Nina Granberry]

Originally posted by @Desmond Dunn:

I am an OOS investing looking to purchase Multifamilty properties using the BRRRR strategy. I wanted some advise as far as the ARV. With many discounted properties being bought everyday figuring out the ARV has been a little difficult. Would you recommend that I get an Appraisal on the properties prior to purchasing them to help nail down the ARV or rely on agents to find the ARV?

 Good question.  

As you start your BRRRRing journey, it will be helpful to practice analyzing deals on your own so that you can start to identify what would qualify as a good deal to you, and you wouldn't have to rely 100% on what anyone tells you. If you decide to ask realtors about the ARV in an area, make sure you ask at least 3 different realtors to make sure the numbers they give you are accurate.

I am an OOS investor as well and purchased my first buy and hold property (a duplex) in June. Good luck on your journey.