BRRRR Refinance Timing

[Ian Kisbert]

During a BRRRR, once you've finished your rehab and placed a tenant, do you get the property appraised right away, or do you have to wait for the refi process to begin 6-12 months later at which time the lender will initiate the appraisal? My thinking is that by appraising right away, you'd at least know what the property is worth and could possibly lock in that value when it comes time to refi?