What to expect from your real estate agent regarding financials

[Valerie Post]

Hello, BP crowd!

I have a question when it comes to what your real estate agent should be providing. My husband and I are on the hunt for our first rental, most likely 2-8 units. When I ask for financials, sometimes I get a great breakdown, sometimes I'm lucky to get income for the year and a line item for all expenses. I realize that my realtor is forwarding information from the listing agent, but can they/should they dig for more? Would it help if I were to create a spreadsheet with income and expenses itemized and they can fill it in, maybe push the listing agent for more details?

I don't want to demand more than I should, but I don't see how I can make accurate decisions with so little information. Your input is greatly appreciated! Thanks!

[Lucia Rushton]

@Valerie Post. They can only give you what the seller / listing agent provide. As a buyers agent I ask all the time for additional information, sometimes I get it other times I do not.

I also dig deep for comps old listings anything o can find big ultimate you as the investor must underwrite your own deals - it is not the role ( in my opinion) to fill out a buyers spreadsheet. That is their role and as such require that from all my clients. You must understand the numbers so when you see a good deal you it makes sense.

Also 5+ is a completely different game including the underwriting. There are a lot of lazy sellers out there right now with huge expectations.