All Forum Posts by: Walker Wesdorp

Thanks Jim this is very helpful,

Do you work with the same appraiser each time you look to reappraise or does it change each time?

I have 50% equity in the first property and the seller is holding the note so it seems like a refinance is the best option at this time. I have already discussed with the seller and she has agreed to an early pay off. Thanks for the help!

Thanks for your reply Sajan,

I was directed away from the 203k loan because it limits the ability to refinance upon improvement completion. Is there any truth to that?

The credit card could be an option but my electrician, plumber, and roof guy only accept cash or check. I wonder if we could come up with a work around for that.

The appraisal seems so much like a gamble. Either way I really appreciate the help!

Hope someone can help

I am fairly new to BRRR with 2 multifamily properties under my belt in the Northern Kentucky area. I need some guidance on my next move.

I finished rehabbing the first property and the tenants move in June 1. I closed on property 2 last week and am estimating roughly 30k in renovation to get property 2 rent-able. What is the best way to finance my construction cost? Should I refinance property one or do I have any other options? Property 1 is in a blossoming area which leads me to believe it will appraise higher if I wait to refinance. Do the appraisers even take that into consideration? No one really every describes how they finance the construction part of BRRR

Any advice will help thanks!