Pro Forma's

3 Replies

Hi All,

How long does it typically take to get a Pro Forma? I have requested to see a Pro Forma for about 5 properties. It has been over a week and I still have not received one. Does it typically take this long? Is there an average response time?

Thanks in advance.

You're better off doing your own. You can ask for the current rentroll and you can find the taxes and likely the water/sewer charges on your own from the assessors office and water dept. Estimate the maintenance/repairs and hopefully utilities are separated. You can estimate insurance by making a call to an agent in your area and giving them some basic info on the property. 

The seller will probably have something prepared that they will send you but they will underestimate expenses and overestimate rents. Generally speaking a week is a long time. Who are you asking? Do the properties have a listing agent or are you talking to sellers direct? Are the properties even for sale?

Schedule a showing. Make an offer subject to verification of rents. Good luck @Chaim Zigelman