When I was in church, I listened to a pastor’s sermon and he said that nothing is impossible with God.

While not a perfect measure, following up with the pastor about the difference in the well being of church members, as well as differences in tithes, are more objective measures of success than we generally get in real estate (or in mutual funds for that matter).

If anyone else has experience with this, either past or present - good or bad, please let me know you thoughts.

Does anyone mind sharing some contractors in the Wichita, KS area that they have worked with in the past or are currently working with and would recommend.

I had a client who trusted his gut and rented to a pastor from a local church who seemed like such a kind, warm, godly man.

ask any one in the military past or present and they will tell you they fear going to war with China.

I use this calculation (NOI/Price) to compare past or as-is performance (on potentially dissimilar properties in the same market), not to forecast.Marco's title of this thread very much implies using cap rates as a target future return.  

@Bobbi Casalino- thanks -  many banks and credit uniuons dont  do  commercial loans  ....many commercial lenders  will not do  cash out  refinances  ....so the number of lenders that can  assist  with this  need  likely wont be large  ....I would  recommend  contacting the  follwoing :  smaller to mid size banks in the area of the  proeprty   2) the bank you bank at   3) any lenders you are aware of that  have made loans on this property in past  or  one  similar  properties - good luck 

I have an oppurtunity to buy an old church from my friend/coworker.He used to pastor it and it was previously used as a mission.It is approx 10k sqft or so but has become rundown.Outer brick structure is fine,but needs new roof and some other stuff.He simply wants out of the property,as it is no use to him anymore (he has new church and new shelter/mission building).I can purchase the property for cash,he previously told me he would sell to me for 26k.I asked permission to take a better look at property yesterday though (with brother in law who is in construction) and he said he would make me a significantly better deal.I would like to convert the property to a 4-6 unit apartment,but I will not leverage or borrow more than my personal paid off house is worth (~150k).I have no idea what it could cost to refurb this thing.Anybody have an idea or possible cost's?

It does not matter what happened in the past, or with another builder, or during pandemic policies, or what we feel should happen...none of that is relevant.