Low Appraisal for BRRRR Refi - Tips to Challenge

[Joe Livsey]

Hi All - I just finished a rehab in the Buffalo, NY Market and received an appraisal back this morning for $145,000. Bought it with cash and used a personal loan to rehab so there is no debt on the property today.

My estimates projected a 165-170k ARV based on comps in the area that have sold in the last 0-12 months.

Question I have for the forums is what’s the best way to “challenge” the appraisal. Has anyone had success in getting an appraisal improved?

Any thoughts would be appreciated!