Skip to content
×
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
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Tax, SDIRAs & Cost Segregation
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 over 6 years ago on . Most recent reply presented by

User Stats

43
Posts
19
Votes
Patrik Kusek
  • Flipper/Rehabber
  • Fairfield, CA
19
Votes |
43
Posts

Advice please: Who is responsible for errors ?

Patrik Kusek
  • Flipper/Rehabber
  • Fairfield, CA
Posted

 I recently purchased a property in Jacksonville Florida.   The transaction had some bumps but we worked things out and closed on time. Later I found the original pro forma provided by the turnkey operator listed the rent at $1105, however upon receiving the current tenants lease it showed a rent of $1005. I based some of my decision based on the financials of the proforma. Who is responsible? Is there anything to do? I’ve left  message with the primary contact but haven’t heard back. 

  • Patrik Kusek
  • Most Popular Reply

    User Stats

    5,183
    Posts
    6,080
    Votes
    Michael Plaks
    #1 Tax, SDIRAs & Cost Segregation Contributor
    • Tax Accountant / Enrolled Agent
    • Houston, TX
    6,080
    Votes |
    5,183
    Posts
    Michael Plaks
    #1 Tax, SDIRAs & Cost Segregation Contributor
    • Tax Accountant / Enrolled Agent
    • Houston, TX
    Replied
    Originally posted by @Patrik Kusek:

     I recently purchased a property in Jacksonville Florida.   The transaction had some bumps but we worked things out and closed on time. Later I found the original pro forma provided by the turnkey operator listed the rent at $1105, however upon receiving the current tenants lease it showed a rent of $1005. I based some of my decision based on the financials of the proforma. Who is responsible? Is there anything to do? I’ve left  message with the primary contact but haven’t heard back. 

    Disclaimer: I'm not an attorney, so just a layman's opinion. Proforma is basically a "maybe": it does not guarantee anything and therefore nobody is responsible. 

    Think of it as a profile on a dating site. The person might have those traits and might look like that picture. Or not. Same with proforma.

  • Michael Plaks
  • Loading replies...