Have MF deal cooking.....getting the details
I am working on a deal for a MF property. The seller seems to be very disorganized or pretending to be. Bottom line he has provided a PL statement but from his own excel program. Says he isn't filing his tax return till much later, thus can't produce it nor a balance sheet, income statement nor anything that certifies or authenticates his intel. From what he's provided it APPEARS to be a good deal. Any suggestions on the way forward with a seller that doesn't want to be more forthcoming with info?
Based on his info the current cap rate is 16%
NOI is $205k
Cash on cash is 21%