I am looking at purchasing a tri-plex multi family property and using the BRRRR strategy. There haven't been any multi-family properties sold or for sale in the area within the past year so it's hard to pinpoint an accurate ARV. Being that there is a lack of multi-family units in the area how would you calculate the ARV?
I am looking at purchasing a tri-plex multi family property and using the BRRRR strategy. There haven't been any multi-family properties sold or for sale in the area within the past year so it's hard to pinpoint an accurate ARV. Being that there is a lack of multi-family units in the area how would you calculate the ARV?
Have you tried talking to local appraisers? This might help you gauge an ARV on a Refi transaction.