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Updated almost 8 years ago on . Most recent reply

User Stats

9
Posts
2
Votes
Reg H.
  • Rental Property Investor
  • Dallas, TX
2
Votes |
9
Posts

Have MF deal cooking.....getting the details

Reg H.
  • Rental Property Investor
  • Dallas, TX
Posted

I am working on a deal for a MF property. The seller seems to be very disorganized or pretending to be. Bottom line he has provided a PL statement but from his own excel program. Says he isn't filing his tax return till much later, thus can't produce it nor a balance sheet, income statement nor anything that certifies or authenticates his intel. From what he's provided it APPEARS to be a good deal. Any suggestions on the way forward with a seller that doesn't want to be more forthcoming with info? 

Based on his info the current cap rate is 16%

NOI is $205k

Cash on cash is 21%

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