📉 A deal came in at a $3.5M price tag based on a broker “valuation.” Their logic? “Because similar businesses sell for 5x.”

But:

• No normalized cash flow
• No working capital terms
• No review of recurring CapEx

We valued it at $2.1M. The lender restructured the deal. Buyer still closed—safely.

Brokers sell optimism. Lenders need reality.