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Updated about 9 years ago on . Most recent reply
BRRR- On the Second R and just got my appraisal back!
So it's been a long road and I still have more to go but I have learned a great deal from my first big rehab. I bought it with a mini-construction loan (rolled purchase price and rehab into a short-term loan) from a local bank. I've lived in the house while I fixed it up and I just got the appraisal back for the refinance. I don't know about anyone else but there was a lot of anxiety with the appraisal. It came in almost 100k over my expected ARV! So with the refinance I have many more options. Here are a couple pictures:
I hope to post more details and specific numbers but for now I am just happy that my hard work really has paid off!
Most Popular Reply
Congratulations! But continue to ensure that what you are buying are deals and don't allow some unexpected funds to cloud your judgement.