Million dollar residential sales in Hawke’s Bay have nearly quadrupled in the past six years, according to a real estate agency. Sotheby’s International Realty

How should I approach a bank in getting 1.5 million for a real estate investment?

With regards to a bank, how you approach them likely won’t matter. Your deal will either fall into their guidelines or it won’t. You don’t mention whether it is commercial or residential. You do say “investment”, so I’ll assume it isn’t owner occupied residential, which plays by its own set of rules. Assuming a $1.5M loan, and a $200k down that is only 12% down, banks usually require at least 20%. In addition to the down a bank will likely require you have sufficient capital for repairs, reserves, etc). Bottom line, you should probably seek a partner, or hard money lender, not a bank.