All Forum Posts by: Kevin Miller

@Chen Zhou

Thank you Chen for the great links and recommendations.

If your open would like to speak with you about Detroit.

I’m one of a group of Four So Cal new investors that formed a mastermind to get going and have decided to make Detroit our area.

We are actually visiting in two weeks and are looking for “Core 4” candidates to meet with. We have one set now and are looking for another for comparison.

@Maurice Blackledge

Thanks for sharing. Very inspirational and so true that great preparation finds “luck”.

@Michael Doherty Thank you for sharing all the details. It is of great value to me as I just made my first offer on a BRRRR and the biggest unknown is the ARV. All other numbers for this deal are right for my goals except a differentiation in comps.

@Ola Dantis Thank you for the advice. I am doing just that. I made an offer yesterday for my first one that fits the criteria and the reason for my inquiry about ARV is the disparity in the comps for Duplexes in a 1-2 mile range from the property I am working on. There are 3-4 that meet the numbers I need to refi and recoup my initial investment, however, there are just as many that are lower than I need. There are some possible reasons (finishes and such) but as I am new to buying in the area (Shaker Heights) I was hoping for some specific ways to ensure the higher appraisals.

I am new to BRRRR and just made my first offer on a duplex in Cleveland. My goal is to do one BRRRR small multi-unit with each of my kids and grandkids (18 total). Two purposes - teach REI to them in real life situation and then split the cashflow and leave the equity to them as a legacy.

The one part I am most unsure about is the refi. To do what I want requires getting all my initial investment out of each property so I can do it again quickly. I have 18 to go and only enough seed money for 10 if I don't get all my investment back after refi. SO, everything depends on having a firm understanding of ARV.

Anybody experienced in the Cleveland market, please let me know the most reliable ways of knowing just what appraisers are up to and how to keep up to date with their practices.