LTV / Amortization: Sub-notes written under the Master line of credit will be limited to the lesser of 80% of an as-improved appraised value or 90% of the proposed cost of acquisition and improvements (“cost of acquisition and improvements” will exclude: projected interest expense, referral fees, and/or projected profit).

Current financing available, construction costs and how to reduce them, appraisal trends, best practices when building on investment properties, rental values, design trends, how to minimize the construction time, ideal target markets, which city's DOB's are helpful and which aren't, preferred vendors, etc.

However, after receiving an initial appraisal (projected value) we started to question BRRRR'ing it.

As far as I can tell, the bank's appraiser will want to see before and after pictures that show that quality work was performed, but does that mean reviewing permits?  

That's where I found this duplex listed for $105,000.We went under contract for $100,000, the appraisal came in low at $92,000, and after some pushback from the seller he acquiesced and we closed at $92,000.

However, after receiving an initial appraisal (projected value) we started to question BRRRR'ing it.

That's where I found this duplex listed for $105,000.We went under contract for $100,000, the appraisal came in low at $92,000, and after some pushback from the seller he acquiesced and we closed at $92,000.

That's where I found this duplex listed for $105,000.We went under contract for $100,000, the appraisal came in low at $92,000, and after some pushback from the seller he acquiesced and we closed at $92,000.

However, after receiving an initial appraisal (projected value) we started to question BRRRR'ing it.

Both require credit pulls and usually full appraisals...with a possibility of desktop underwriting on some HELOCs.