Investor · Charlotte, NC · Member since 2016 · 13 posts · 2 votes
Is it standard practice for sellers of multi-family units to withhold P & L and other financial data until an offer is made? This was brought to my attention and I am having difficulty accepting this. How is a buyer supposed to make an offer on a property without having all the information to properly analyze it?
Specialist · Springfield, MO · Member since 2016 · 104 posts · 54 votes
10y
I'm not sure how the seller expects anyone to make an informed decision without this crucial information. I would never make an offer without this info.
full-time CPA & part-time RE Investor · Colorado Springs, CO · Member since 2016 · 102 posts · 46 votes
10y
I agree with @Mike Vann. If the seller will not give you enough information to make an informed offer, pass on the property. There are other properties with sellers who will share that information.
Rental Property Investor · San Diego, CA · Member since 2016 · 119 posts · 129 votes
10y
You can also make your offer contingent on on inspection. During the inspection, you may request the P and L, and if you do not like the numbers, counter offer or bail out.