I had a retail deal and bank had an appraisal of $10,420,000, looking at P&L from 6 months earlier on the subject the NOI was $300k, looking at rent roll of a month in August the income was $105k with 35% vacancy, asked the asset manager how did the come up with $10,420,000 and he said based on that month rent whats renting in the market not considering this is a stressed property and wanting around 80% off that amount which did not even make sense what so ever.

You have more financing options if owner occupied and your risk is mitigated because you are living there.

Are you based in NZ?

I've raised and torn down single family homes, gutted condos, and five and six story buildings.I can tell you that owning the land and the building allows you to have options.

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A conventional loan with 10% down will not be an option for a car wash.I would first seek to find out if the Seller has plans for the proceeds, usually they need the money for something else.

Hi @Rita SamaddarI recommend areas based on three things:Budget: Knowing your cash to close helps me suggest the best areas, especially if you're using a hard money loan.Rehab Level: Whether you prefer low or major rehab impacts the neighborhoods I'll recommend.Market Dynamics: Areas with minimal days on market are ideal, as they predict how quickly your property will sell post-rehab.In conclusion, start with how much you have to work with and the level of rehab you're comfortable with to find the best areas for fix and flip.

Hello Youssef Labib and Bruce Lynn,About Texas REIAS with Phill and Shenoah Grove some answers based on experience with real estate.

Bringing in a partner with the funds needed or portfolio loan, talk to more banks it sounds like would be the best option. 

Aside from the cash-refinance cost itself)3) Does this mean the new mortgage (30-year conventional for the apartments) be based on the $1.8M with new interest rate (at the time), etc.?