How Would you analyze a property with no financials

[Lawrence L.]

I was given a listing by a broker for a 5 unit building in a c+ b- neighborhood. Not far from the subway, you can walk to everything. The broker said they are asking 850-900,000. The taxes which I found on county web site is 9000. He asked me if I want to make an offer.... The question is how would you analyze this property to make an offer or would you ask for more info.

[Jeff Kehl]

Sure you can do it with no input from the seller but the fact that they don't have that info should tell you something. You should try and analyze it anyway just for the practice if nothing else.

What can't you determine independently? Talk to the tenants/comparables to get the rent. For expenses talk to the provider or estimate it based on comparable properties.

When there is a lack of information there is opportunity but also a lot of risk. Your job is to decide if the opportunity is worth the risk.