Are You Making Offers from Pro forma Info?

Never, ever make any offers based on pro-forma info! At a minimum I require a T-12 (trailing 12 months) before I consider making any offers, and would prefer the last 2 years income and expenses. The broker (if one is involved) will probably tell you many offers are coming in and you better make an offer soon, you’ll get the actual income and expenses after the offer is accepted! Don’t fall for this BS! Either the broker isn’t able to get the actual income and expenses from the seller because the seller isn’t really trying to sell, or the broker is attempting to bid up the property and get the buyers to make contingent free offers so when the actual income and expenses are made known, the buyer can’t back out!