Appraisal/Refinance - Duplex & 4plex - Tulsa

[Bobby Spurlock]

Has anyone recently refinanced a duplex or 4plex in Tulsa? I am in the process of refinancing one of each and just wanted to hear what others have experienced as far as how the appraiser went about determining the value. There aren't many of these types of properties in Tulsa and it seems like most people hold on to them once they have them. The few that have sold were in such disrepair when they were purchased that they don't provide any useful data to determine the value of a completely remodeled property. I have also heard that for a unit this size the appraiser will not use rental income to determine the value. I'd love to hear what others have experienced going through this process.

[Bobby Spurlock]

Thanks for the input guys! I actually met the appraiser at the 4plex this morning and he did say he will take the rental income into consideration. I gave him a copy of our signed lease agreements. Fingers crossed!