BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated over 5 years ago on . Most recent reply
Low BRRR Appraisal - How to handle?
Hey everyone! I'm in the refinancing process for a BRRRR deal I just did, and the appraisal came in much lower than my partner & I had anticipated. We felt we had 2 strong comps to justify pricing, which sold in the last few months. The appraiser used the sales comp approach with 3 properties that have no work done to them at all. Curious if anybody has suggestions on how to handle this? Is there a way to appeal the appraisal or something along those lines?
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Rental Property Investor
- Boulder, CO
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Rental Property Investor
- Boulder, CO
@Luke Grieshop I've been there. That second refi in BRRRR is the wild card part for sure. However, you can stack things in your favor (and do something to get the deal closed if the appraisal does come in low. Check out this article and let me know if it sparks any ideas for you... You can always PM me too.
https://www.biggerpockets.com/blog/real-estate-refinancing-success-brrrr-investors