Mike Lambert above is correct about house values in Japan.

Those are old enough to see some that need extreme updating and could potentially have value add component with a decent spread.

I have never done a new roof to add value for the refi on a brrrr because it will not add the necessary value.

In general, government will set the assessed value lower than market value at reassessment in order to neutralize appeals.

They lowered the “taxable value” by 40-50% and then raised the tax rate about 35-45% lowering everyone’s taxes that year.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

The underwriters will be looking at similar property condition requirements (c4 or higher) of a conventional loan (no deferred maintenance or safety hazards which would affect value).  

Home values are much more affordable and the local economy is trending upward.

@Melissa Odom I recommend connecting with a commercial real estate broker to get a broker price opinion on your current value and after-construction value.

Have the co-op take out a loan for 60% of building value, then charge buyers 20% of value in cash for each unit.