BRRRR'ing a Duplex/Triplex/Fourplex
Hey BP!
I apologize in advance since I'm sure this question was asked before but I can't seem to find any clarity. I'm trying extremely hard to acquire my first duplex. It is more than a dream of mine (cheesy, I know). My intention is to BRRRR the property so I can start building a portfolio. I've been hitting a roadblock when trying to analyze the deal. I will outline it below:
1) When trying to determine the ARV, what do you do if there are no duplexes nearby that sold?
2) Continuing from the first question, when trying to analyze what the rent will be after rehab, what do you do if there are no renovated comps?
3) If the goal is to BRRRR, do you need to take the current properties rents into account when analyzing?
I've watched a lot of Bigger Pockets videos on analyzing a BRRRR but the ones I've found haven't really explained how to come up with the ARV for the BRRRR. If you know of any other resources, I'd be extremely grateful.
I would really appreciate any feedback and am even open to paying if someone wants to jump on a zoom and do a live analysis of a property in my marketplace (I hope that doesn't violate any rules on this forum).
Thank you again!