BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated about 4 years ago,
Determining ARV of Small Multi-Unit (1-4) with No Comps
I have an off market duplex in a rural area that I'm considering purchasing. It needs some renovation - around $75K. I'm acquiring the property through a combination of personal money, private money, and hard money.
Exit strategy #1 is BRRR - solely be able to pay off investors. However, I can't find comps in the area to support an accurate ARV. There's zero comps in the area - no one is buying and selling duplexes in this rural market. I've reached out to local residential appraisers - no luck. None work with small multi-units.
What should be my next steps?