Question - establishing market value for BRRRR property
Hello, PHX developers. A colleague and I are planning to do a BRRRR project in the Garfield district, and I have a related question for all of you. So ... let's say we buy this property, do the rehab, and lease it up. What sort of premium over construction cost should we expect for the market value/ARV? Also, how much does this premium over cost vary by neighborhood in the Phoenix area when estimating market value? Thanks!