In this case as long there is 3-6 months seasoning, you should be able to cash out on the new appraised value.

(if the property value is 115k) Then turn around and use the cash out proceeds for a down payment on another commercial DSCR loan to purchase a small multifamily.

VA Loan How did you add value to the deal?

Conventional Loan at 3% How did you add value to the deal?

I’m interested in using private money to get started and continue using the BRRRR method as I love value add and I’m able to do a lot of the work myself.

Understand Your Assessment: Review your property assessment carefully to ensure its accuracy.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

The broker is probably overstating NOI.I'd recommend doing your own underwriting to come up with a value. 

How did you add value to the deal?

I'll send you a message we focus on larger deals with construction values of at least 10 million which is approx 40,000 sq ft deals and at least 60 units. most of the units we look at are urban core and midrise at least 8 stories with 2 parking levels in Miami.