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Updated over 2 years ago on 01/31/2023. Most recent reply

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Posts: 15
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Pedro BartolomeiPoster

Rental Property Investor
Deer Park, NY

General Landlording & Rental Properties

Fireplaces in rentals

Pedro BartolomeiPoster

Rental Property Investor
Deer Park, NY

Posted January 30, 2023 05:24

we just bought a house to brrr which has a nice fireplace . we are considering closing it up to keep the future tenant from burning the house down . Does closing it up lower the appraisal when we go to refi ?

any input is appreciated!

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Nathan Gesner

Real Estate Broker
Cody, WY

Nathan Gesner

Real Estate Broker
Cody, WY

ModeratorReplied January 31, 2023 05:14

Quote from @Pedro Bartolomei:

we just bought a house to brrr which has a nice fireplace . we are considering closing it up to keep the future tenant from burning the house down . Does closing it up lower the appraisal when we go to refi ?

any input is appreciated!

Leaving it there but closing it up is a bad choice, in my opinion. Either leave it open for them to use or convert it to a gas/electric fireplace so they can enjoy it.