Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. 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,

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...