The broker gets wholesale rates and then adds spread to bring you back to the retail rates you would've gotten from a bank.

🤣Then again with retail on the decline and eviction moratoriums that could be risky as well.

At this price, he is not competing with the retail market, he is competing with $2MM apartment buildings.

Retail space is taking an even more severe hit.

You can verify collections here: https://www.nmhc.org/research-insight/nmhc-rent-payment-tracker/The real concessions in this market seem to be in Office/Retail while Multifamily/Self Storage/Industrial seem to be holding up well. 

Eric,Generally a retail bank will do an AVM especially right now with appraisal waivers if cash out is below 70%.CLTV. 

She declined my wholesale offer of $185K, wants full retail value.

But that's how I pulled the trigger on my two actual investment deals (my other two properties were my residences, bought retail before I got into REI), and they're both accomplishing what the numbers said they would accomplish. 

Anything half-livable will get snatched up at retail price in the plex/single-family home market.

Unless you know of investors personally, I would ask to get an appraisal, or what the property is ultimately worth if it were in retail condition, by asking a realtor.