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Updated over 5 years ago,
How do you ensure ARV in Cleveland small multi units?
I am new to BRRRR and just made my first offer on a duplex in Cleveland. My goal is to do one BRRRR small multi-unit with each of my kids and grandkids (18 total). Two purposes - teach REI to them in real life situation and then split the cashflow and leave the equity to them as a legacy.
The one part I am most unsure about is the refi. To do what I want requires getting all my initial investment out of each property so I can do it again quickly. I have 18 to go and only enough seed money for 10 if I don't get all my investment back after refi. SO, everything depends on having a firm understanding of ARV.
Anybody experienced in the Cleveland market, please let me know the most reliable ways of knowing just what appraisers are up to and how to keep up to date with their practices.