Are there any bank employed RE appraisers here on BP‘s?

[Kelly Walsh]

I’m wondering if there are any bank real estate appraisers here in the group?

I would like to ask an appraiser a question about a potential multi family investment property.

So if the property is in need of say $150k in renos, has 4 units with the potential for 6 by adding 2 bachelors and the total cost to purchase and renovate being $350k. The property is located in a small border town an hour away from a large metropolitan area. The property would be fully renovated and fully rented before approaching a bank for refinancing.

What would you say the property would be appraised at?

I know there’s a whole lot more to consider in order to get an accurate answer here, but any help with this question would be greatly appreciated.

Thank you.