Proformas are usually Should be workings of a property, yes if you sign a confidentiality agreement often you can get the actual financials of a income producing property. The proformas are usually done to show you what your upside will look like when 90% occupied, or a proforma is ran when the current owner has too many personal items running in the books, say a "company car" for each of their kids and their wife, a salary for their wife and kids, vacations etc. Often the straight company financials don't show the true costs that it would take to run the property correctly with out fluffing up the expenses for tax reasons. We run across this in small operators.
Nov 16, 2011