Posted by Jim Locker on December 30, 2000 at 11:53:11:
Value depends on location, within limits. Generally, a good location gets you a more favorable market cap, which results in a higher valuation.
But 1.3 Million is out of the ballpark for any realistic market cap. You might get the property to support a 1 Million purchase price if the area is good enough, and 850K looks alright to me.
I would be very surprised if you can get anyone to give you a cash out second on a deal like this at the 850K price point. If you find anyone who will, please post the info since I (and others) would like to know how you did it.