Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 10 years ago on . Most recent reply

User Stats

75
Posts
10
Votes
Johnny Kula
  • Rental Property Investor
  • Billerica, MA
10
Votes |
75
Posts

First Commercial Deal - Numbers are disgusting!

Johnny Kula
  • Rental Property Investor
  • Billerica, MA
Posted

I'm looking at a Commercial 3 story.  The numbers that were supplied from the selling agent are SOOOOOO bad that I cannot even guestimate what the heck this seller has going on.  It seems to be a ton of fluffing on the incomes and hindering on the expenses.  To the point I might just walk away without even getting any further info.  

Their asking price ($750k) is about $200k-$300k too much in my short calculations, which I cannot even get accurate due to the crap numbers I was given...  Even his pro forma shows all the rents fluffed and all the expenses the same (and unreasonable) as his actual.  

The tenants are a cafe, bar and nightclub, which might not be the best tenants as it is...and who knows if the current owner would even entertain such a low offer as the property is probably worth that cost alone....

Would seasoned investors walk away or try and get more info?

Thanks,

Johnny

Loading replies...