BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated about 2 years ago,
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No experience BRRRRing .....own a property free and clear
So I own this property free and clear in the Miami area...not the greatest neighborhood ....property estimate based on an average from Zillow, Realtor, Redfin, Homes and Remax is $400k....the lowest estimate was $377K on Zillow...anyhow I haven't spent an money to improve the property since I purchased it.... the renters really are not the tidiest folks ...grass usually needs a cut ....etc...I wanted to BRRRR this propert to acquire another property. I want the max payout. Questions...
1. Should I hire a property appraiser to see where the value is?
2. Will this pro provide information on what I need to improve to get the most from a bank?
3. What are the best finance options in Florida or nationally to BRRRR?
Thanks in advance for all input.