Looking to get financials from potential seller....

[Chris Luksha]

Hi All,

I am looking at a property that is a couple hours from where I live and before I go travelling to look at it, I have done preliminary research on the community etc.  At the same time I have been asking the seller for a rent roll and other data to back up his cash flow claim.

I have been given jpegs of a quicken rental manager report, but it could be rigged in oh so many ways.  I only question it because his claims are a bit too high to be realistic unless he was a poor manager of the property, in which case I don't want it.  No matter how I run the numbers, I can only cash flow half of what he is claiming

Anyway - does anyone out there use Quicken rental property manager and know what I can tell him to get me the info I need from the system? I don't want an accountant's copy because it will probably have all his personal finances as well and he would be crazy to offer it up like that. 

Is there an account or two that he could potentially export for me to import into a trial version of Quicken rental manager and get a better realistic look? Are there particular categories that anyone knows of that I request are included in the data?

For example the image he gave me simply says annual rent equals $nnn. However there are 6 units and I want to see the history of them all - not the lump sum. Another would be a line item that says "other maintenance" but doesn't show what that other maintenance was.

Anyway - if you know what I am looking for it will be obvious to you.

Thanks in advance all.

Chris

[Chris Mason]

Tie it up in contract so it's yours if you want it, and during the inspection contingency period talk to the tenants, get estoppels, review the leases, and get a solid inspection that'll look for deferred maintenance. If you don't like what you see, back out. If you do, great buy it.