Broker vs Lender vs Appraiser: My IRR Didn't Survive
- ricklahkar
- May 12
- 1 min read
Broker: Seller is “motivated.” Lender: Cool, send T-12, rent roll, estoppels, and a 200 bps time machine. Appraiser: Found a drive-thru comp—your office is now a sandwich. Me in Excel: 17% IRR pre-quote, 0.7 DSCR post-quote 🧮🤡
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