Why are as-is appraisals always so high?

[Mike Schorah]

It’s like they’re using the cheapest materials (not accounting for the continuing skyrocketing costs) and having illegal undocumented workers come in and magically get the work done in record time.

All that time, effort, and management, I’m going to need a nice premium off of what it’s really worth. I’m going to need a discount.

I want to get at least 20% off the actual present value price on the property for it to even work for me.