Hard money loan or sell the property?

My name is Rose - I need a hard money loan...

Hard money Tom: So, tell me about your hard money loan request.

Rose: I inherited a warehouse from my mom about 2 years ago. It is vacant, and some vandals set a small fire inside, but there is
minimal fire damage. The property is worth $800,000. I only need
a loan for $200,000.

Hard money Tom: So the fire damaged warehouse will appraise today for $800,000? Will there be "good comps" for this property? In other words, has there been similar warehouses that have sold in the neighborhood recently for $800,000?

Rose: Yes. That shouldn't be a problem. I was going to list and sell the property, but with the down turn in real estate, I would be better off just getting a hard money loan.

Hard money Tom: If you were to sell the property today, how much could you sell it for?

Rose: Oh, I could sell it for around $200,000 - 220,000. It used to be worth a lot more, and I am sure that as soon as this real estate
market turns around, it will be worth a lot more.

(click)

Rose: Tom? Tom? Hello? Can you hear me...?

Got a hard money loan for land or commercial property?