Worth it equity improvement opportunities
To my limited research knowledge, it seems that basements can't be considered in the consideration for square foot livable space equity in appraisal in NY. However, in listening to BP 598, David was talking about various ways to rehab for the BRRRR method. Would finishing a basement be enough of an equity opportunity to consider a property a good BRRRR. If not, what would you consider the smallest improvement that would be a great opportunity? Updating?
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#4 Managing Your Property Contributor
- Real Estate Broker
- New York, NY
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#4 Managing Your Property Contributor
- Real Estate Broker
- New York, NY
Hey @Duane Ward - replying to your most recent comment, yes I agree. I've noticed that once a distressed property is on the MLS it's priced higher than what it should be.
My hunch, in my own experience as a realtor, is that when an agent has a listing and is unable to sell it to her own agents' buyers *then* it goes on the MLS to attract retail home buying flippers.
I'm working with a few private buyers that are looking for off-market flipping opportunities as well on the island - if you'd like, I can add you to my list so you can get an update on the properties that I come across.