Short answer
Use a refurb scenario when works change cost, timing, rent, valuation or finance. For BRRR-style deals, the refurb and refinance assumptions are usually the heart of the model.
How it works in Koreograph
You can itemise refurb costs, set a refurb duration, model how works are funded and set an after-repair value. Koreograph then shows the effect on forced equity, cashflow, finance costs, refinance and final wealth.
Developer view
Stress the refurb budget, programme and ARV. The best-looking BRRR deals often rely on three assumptions being right at once: cost, valuation and refinance terms.