Appraisals delays Indianapolis

[Marcus Holloway]

Hey BP,

I'm in the appraisal period for our 2nd BRRRR deal in Indianapolis. Obviously the market is crazy. I'm using a private lender that hired an appraiser from an appraisal management company.

The appraiser visited the home over 2 weeks ago and we still haven't received our appraisal report. It's a SFH that's tenant occupied.

They’re claiming they had difficulty verifying rent prices for the area. I’ve complained and they’ve promised to have our inspection report by EOD on three different occasions.

I’m frustrated because I need to close this refi to pay off high interest debt we used to rehab the property. Hold costs our killing our cash flow.

Indy investors, are you also having these long delays on appraisals or do I need to hire someone else?

Thanks in advance.