All Forum Posts by: Domenick Booker-Pomata

@Chris VanHuysse Likewise, thanks for the input. What have you be been found the ARV to be around in the Carondelet area?

 My partner and I are under contract for a SC duplex; 5911 Michigan Ave, Saint Louis, MO 63111.

Our contractor walked the deal and the rehab numbers match. We are having trouble with the ARV. We were confident the ARV was 140K, but we recently had a conversation with a HML and STL investor when shopping for loans.
He kindly advised us to check the ARV 140K . He has a duplex a couple of blocks away that is slightly larger and it appraised for 110K. He admits to incorrectly timing the rehab completion and had the appraisal conducted before the AC was installed and fully tenanted.

We had a desktop appraisal completed and it came back at 150k. I personally do not think the comps are apples-to-apples because our subject property is unique.

What do you estimate the ARV for this property to be? Any insight would be great.

Thanks,

@Noe Arreola

You can BRRRR both Multifamily and Single Family.

Multifamily BRRRRing is more cash intensive but the rewards are substantially higher.

I'm currently working to get my first BRRR completed.

PM if you want to chat.

@Jordan Moorhead

Congrats!! Please keep us updated as you continue this project.

The house looks pretty good from the exterior.

What is your rehab budget and estimated ARV?

What lender are you going to use to refi?

@Ben Wilkins I have been looking for a good excel based BRRRR calculator are you still willing to share?

@Whitney Hutten

I have not heard of Dealcheck. I will go ahead and take a look now! Thanks for sharing. Is this the analyzer your are currently using?

@Aj Parikh

Congrats on your first deal.

I saw your post regarding PMI.

Would you mind sharing how much you put down.

@JD Martin thanks for your input, I appreciate it. I am familiar with the one on Biggerpockets. I am looing for an excel spreadsheet BRRRR calculator.

Can someone share a BRRRRR calculator they use in.

I have sound several but they are not as comprehensive as I would like.

I would also love to talk about your previous project

Thanks in advance

I would love to hear some input from Memphis Apartment Operators regarding there current underwriting criteria?

What COC and IRR are you looking to achieve?

How has the current market affected your underwriting?