Low BRRRR Appraisal - what next?

[Jim Haney]

I am doing a BRRRR and the appraisal came in well below what I think the property is worth. I did the Appraisal Rebuttal and got no movement. My options are 1) to go with the current appraisal and leave more skin in the game than I wanted to, 2) cancel out the loan app and resubmit in a couple weeks or 3) start from scratch with a different lender.

What would you do?

[Jason D.]

@Jim Haney I ran into this earlier this year. Did a BRRR that I was confident would have a value of $130k - $140k, appraisal can back at $115k. I told the lender that wouldnt work, and we appealed it. Didnt work, and the lender wouldnt accept another appraisal. We waited a couple months, switched lenders, and the next appraisal came back at $140k.