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It's hard to value something above $5M

We're buying an investment property that is $7M. If I look at comps, it should be priced at $5.5M. But there aren't really any "accurate" comps...so I'm told. For as long I've been an investor, I have always had to pay based on pro forma. If I got a penny for every person who showed his true books/tax returns, I'd have.......let me see.....a penny? If that?

I understand it's cutthroat out there, been doing this long enough to know that I've done the same when selling. I guess it works both ways. Sorry just ranting.

submitted by /u/Resident-Coach-786
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source https://www.reddit.com/r/RealEstate/comments/n0vu20/its_hard_to_value_something_above_5m/
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