Is it customary to request financials before the offer on multis?

[James Kojo]

If I'm analyzing deals on multi's, should I expect to get the trailing-12 and rent rolls before I make an offer, or do I review those during the due-diligence period?

Thanks,

James

[Ray Harrell]

If someone is open enough to share them with you, then by all means! A seller who has nothing to hide will likely share. Someone who is selling a dog will probably want to conceal as much as possible. When I bought the seller gave sporadic information even after the offer. I soon found out why. His records were inaccurate and he hadn't been collecting rent, and the building was stealing electricity.

If/when I decide to sell, I'm going to provide rent roll and rents collected, utility bills, repair receipts, etc. I think people who take care of business will provide full disclosure, because for them full disclosure is a selling point.