Mortgage Basics M o r t g a g e B a s i c s

Force appreciation in multifamily: renovate units ($10-20K per unit), improve exterior ($5-10K), add amenities ($15-25K), increase NOI by 20-30%. Target 15-25% value increase in 12-18 months. Refinance at 75% LTV to pull out tax-free capital. Best for 5+ unit buildings.