Information on refinance in ontario

[Ryan Martin]

Hey Bigger Pockets!

Im looking to do a Refinance and apprasial, in the coming months on my Rental property in ontario. Im wondering if there are things I should be expecting? Such as;

- things that are going to bring up/down my inspection and appraisal value,

- prices I should know about prior to having a complete refinance

- anything that comes to mind or,

- experiences you may have had.

Thank you very much, this is my first one and im hoping to go in with as much knowledge as possible, hoping to really get the numbers im looking for this BRRRR to workout.

Cheers :)

[Roy Cleeves]

Hi Ryan:  The biggest thing will probably be your leases.  You want to have leases that show a large monthly rental income.  This will be one of the biggest factors in getting a very high appraisal.  I think it is good to have an idea of value and tell that to the appraiser based upon sales that you have seen or a Realtor has provided for you.  You are helping them do their job.  Also, each appraiser is different - if the appraisal is not what you think then you can always ask for another appraiser.  Good luck!

[Jacob Perez]

Hey @Ryan Martin,

Send a DM - I've helped hundreds of investors do the BRRR strategy on the mortgage side. The key thing is choosing the right appraiser in the location who would be willing to use the best comps vs. the first 3 they see. Easier said then done.