Many "improvements" have zero added value, but will reduce operational expenses by eliminating or reducing piecemeal repairs and costly, inefficient, service calls.I always TRY to offer units that will attract the top 10% of the tenant pool for the price range... you get top rent, fewer headaches, less turnover, and lower overall operating expenses.As regards commercial property--typically this is NET NET NET and improvements are not an issue, other than negotiated TI's for a new tenant.

-purchase price-desired profit (I plan on $10,000 for any investment up to 30k and an additional 5,000 for every 30k after. ie 30k purchase price I want to net 10k, 60k purchase I want to net 15k, 90k purchase I want to net 20k)= Maximum allowable purchase offer priceHere is a sample deal on one I am in right now.Purchased property for 52,000 (reo)inital closing costs including inspections and appraisals 3600renovation costs 19000holding 10 months @ 750 a month ... 7500Conservative ARV $120k minus my 12% (see above)arv 12000012% final costs 14400holding costs 7500renovations 19000purchase price 52000estimated net profit 23100I wanted to make atleast 15k because it fell between the 30-60k range for inital purchase price and if it sells early great, but I always start with talking to an appraiser and seeing what the conservative ARV will be and go backwards from there.

I want to try and make a deal that will allow me to get as much as possible down, 100k to 120K would be a good range.

Given the range the value of specific titles will vary.I would spend money of coffee/tea at a large bookstore and just read for free.

I was already at the upper end of what I had set aside for repeir/remodel, and a potentially over $3000 (at the least) puts the place in the price range of some of the almost turnkey places I've turned down.Was that the right thing to do?

Will the banks appraisal likely be in the same range as the city's?

Several of the apartment complexes are in VERY poor condition, one complex currently has a 40% occupancy rate, they're asking about 20% over fair market rent, for a very poor rental (No updates since it's construction in the early 70s).Anyways, several of the rental companies that do keep care of rentals, meaning updates every 10 years or so are seeing occupancy in the 97-98% range.

Yes, there is more hassle and headache with lower end stuff, but you are going to get hassle and headache in every price range.

Comps come in at about the $75,000 to $90,000 range.

Your confusion is justified as for the most part, hard money lenders are funded by private investors---hard money loans available in NY range from 65~80 ARV, score driven programs for FICOs as low as 620, some will require cross collateralization or down payments, loan maturities ranging from 6-12 months with rates as low as 13.25%/3 points.Regards,Scott Miller Originally posted by "Windheim":Nope.