The valuation is out.

The good news: our PPOR has increased in value by almost 39% since we bought it.

The not-so-good news: the valuation came in at $5k less than the mortgage broker's assumption, which means the amount of equity we have access to is $4k less than projected.

Which narrows our choice of potential IPs.

Which, in the scheme of things, is not necessarily a bad thing.

It just means being smarter with our resources and more picky about what we choose to buy.