Lower Appraisal than Expected!

[Allan Kyariga]

Hey so this is my first deal ever. It's a 6 unit multi family development in my city. The comps that the bank has pulled are for less than what I had anticipated when buying the property. The main reason why the projections are so low are because there are few new townhomes built in my specific area. IF worst came to worst, and I wouldn't make money on the development/ get proper financing due to low appraisals what are some other solutions that could possibly turn the loss into a profit? The location is great, and everyone (including the bankers) agree I got the lot for a steal. 

[Theresa Harris]

If you are buying it, use the low appraisal as leverage to negotiate a lower price.