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StorageAce

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Mom and pop owners with no electronic records
How concerned should I be about a facility that does not have the electronic records that we're used to seeing from management systems? The property is being sold by a broker who has created a nice OM. However, the limited info that they got from the older owner was handwritten on notebook paper. I can tell the owners are an older couple that are not tech savvy. How do you go about verifying income, rent roll, and etc? What pitfalls to lookout for?
1 like • May 11
@Tommy Xaysongkham : tax return would be one of the important documents to corroborate with the gross revenue information. As far as rent roll, you can put together the unit mix with rate and occupancy (which are all given to you through the handwritten notebook paper :)), but after you are under contract, actual tenant information, YTD P&L among other things are part of the DD deliverables, which should help you to further validate and substantiate. I think it’s between reasonableness and precision. 🙂
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Ying Fu
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@ying-fu-4258
Here to learn and give back in any way! Owner/operator looking for opportunities to connect w/ likeminded people and continue to grow!

Active 1h ago
Joined Mar 25, 2026
Washington DC
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