I'm having a really hard time establishing FMV/ARV when I look at duplexes because good comps seem so difficult to come by. (They're either a long time ago, far away, not comparable size/year/amenities) etc.
I run the numbers to make sure that it cash flows and I get the ROI that I want but I'm always hearing "make money when you buy" and "find a great deal"
Part of the concern with figuring out the ARV is taking into account the possibility of getting a loan on the property if I decided to do delayed or cash out refinancing because the ultimate goal would be to BRRRR.
Any suggestions would be greatly appreciated!!!
Making the money there when you buy is finding a duplex with extremely low rents, some deferred maintenance, and other value add opportunities. Buy the property, fix the issues, and voila!
One of the sayings I have been hearing from the podcasts a lot lately are that great deals are made and not found (as easily as they used to be). It is important to look for good deals going into investments, but also do your best to improve the property to give you the best ROI.