Appraisals are a big deal in the BRRRR process. In order to pay cash for new equity building properties, it's critical that your after repair value come in as high as possible. That is the value that sets the benchmark for the cash you'll take with you moving into your next property.
There will always be variables with the professional assessment of your property's value. That's why you'll need to own specific measures on your end to give your property the most favorable outcome.
It's equally important to understand numbers going into a new project that matter more than end value. Creating turnkey standards for your decisions greatly impacts your outcomes. See how we run the numbers beforehand to make sure that the post-renovation value is the right decision for us.
Our free appraisal guide download walks you through how to create appraisal systems for your own properties based on what we've identified as success opportunities. You'll also receive a fully customizable template to create your own appraiser letter.
First impressions that add value and why
Navigating the relationship with your appraiser
Key mistakes to avoid
Understanding the process standards
Drawing attention to the right details
Do's & Don'ts for better outcomes
Example appraiser letter
Once we realized we were running the same calculations time and time again we created this form to input our variables and determine projected financial outcomes for each specific property under evaluation.
This form is designed to let you calculate two different ways and comes down to your preference.
1 Cash Flow or
2 Cash on Cash Annual Return
Knowing your numbers helps you make future decisions like rent requirements, mortgage parameters, or passing on a home completely. You'll have different considerations for each. This spreadsheet will help you move through your options more effectively.
Estimated Repair Amount
Taxes and Insurance
After Repair Value
Cash In Deal