Advice for Brrrr with mfp!!
I utilize the brrrr strategy with 40-60s build homes but now I’m moving into multi family.
Question 1: When rehabbing a 1910-1920 large pier and beam home and multi family, what are the main things one should consider? Is it pertinent to get a Gc experienced specifically with these types of rehabs? My current GC is used to high dollar 50/60s build renovations. Am I being too granular?
On a current deal I’m about owner finance... I’ve spent $600 on general and foundation inspections during the due diligence so I know “exactly” what I’m working with. I’m replacing the whole foundation and intend to do the brrrr strategy.
Question 2: How do appraisers determine value on multi family? Do they take the surrounding comps? If so, how do they determine each owner noi and cap? I’ve never understood this with multi families.
Thanks.
Dallas investors: If you want the analysis on the numbers, dm me separately!