Updated over 5 years ago on . Most recent reply
Will they go into my SFH to 2 Unit BRRRR - Refinancing
Hi BP,
In 2019, I converted the SFH I live in into a 2 unit multi-family home. I now live in the 2 bedroom basement unit with one renter of the other basement room. I rent out the main house as well.
I am considering refinancing to complete my BRRRR and have a few basic questions:
- Do you need to physically be there for the appraisal? I am currently away from the home during COVID-19 temporarily.
- Should the home be empty or occupied for the appraisal? Being rented is important for appraisal values I believe? If occupied, will the tenant's "neatness" impact the appraisal value?
- Do they need to do a home inspection/go inside the home? Especially since I bought it as a SFH, and it's now legally been converted to a 2 Unit multi-family.
Thanks so much everyone,
Drew