Cap Rate Issues

[Sam Waddell]

I am having trouble getting brokers in my area to provide a cap rate for the applicable market (i.e., a rate based on comparable sales in the area). Instead, the brokers provide a rate based on the seller's estimated and likely inflated NOI divided by the listing price. In my analysis, I want to divide my calculated NOI by the applicable market cap rate to get my offer price. Has anyone else experienced a similar issue? If so, what are some possible solutions? Also, is there a better or different way to analyze properties?

[William E.]

ooh spreadsheets. i love spreadsheets. why not upload it to the site and share?  :)

search for brokers here on BP and PM them and ask. i'm sure you'll find one more than willing to assist you. https://www.biggerpockets.com/meet