High appraisal looking for advice
I bought a 5 unit for 114,000 3 years ago I did some Reno and the building NOI is near 35k a year
I am applying for a HELOC to buy more and Pat of the process is getting an appraisal.
I'm not sure what to expect or how I can contribute to getting the highest possible value.
I don't want my cheap purchase price to hurt me. I figure if it makes 35k then 10% cap puts its value around $350
Any advice ?