All Forum Posts by: Colin Parker

How do appraisers appraise duplexes? I've heard if they're under 5 units they treat them as single family. Are they averaging the sale of comps in the area in the last year? Are they doing it by $/sq ft? Are they also incorporating actual single family homes if there aren't that many comps? Any info would be much appreciated!

New to and currently learning a lot about real estate investing. I am looking to acquire a duplex and am particularly attracted to the BRRRR method, but I have some questions surrounding the ARV of duplexes.

1. Is it possible to rent a duplex at a significantly higher price than local market average if it is nicer?

2. How do you get a high ARV or convince the appraiser of a higher NOI if the rehabbed duplex hasn't been rented out yet at a higher price than the local market?

3. Is the BRRRR method better used for taking dilapidated or severely under-valued properties and bringing them up to standard rather than improving an already 'okay' property?

Basically, any information on how to use BRRRR method with duplexes and nail the ARV would be super helpful!

Thanks,

Colin