Key Takeaways
- Limited comps and appraiser unfamiliarity are top shortfall causes.
- Maintain a running comp file of renovated sales.
- Pursue Reconsideration of Value if appraisal is low.
- Define multiple exit strategies before starting.
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Test Your Knowledge
1.What is the top cause of BRRRR appraisal shortfalls?
2.What is a Reconsideration of Value?
3.What backup plan should investors have if refinance fails?