To much time of fancy summaries.

[Account Closed]

I will never understand why it is that when I want to evaluate a commercial multifamily property that I have to look at an executive summary that is 100 pages long with 20 of them being the nicest pictures you can see and 12 comps for the area. They give you pro forma of bringing in 100k for the year net.

Then when you finally see the year run financials the property has run for a least a year 35000 in the red a month, with maybe a month of 12k in the black. Just looked at one property where it was in the red over 300k for the years financial. And their asking top price for the property, even if I were able to pull a group together I would only offer maybe 40% of the ask price if that.

Am I doing something wrong in my analysis?