What is a T-12 in real estate?

A T-12 (Trailing Twelve Months) is an operating statement showing the last 12 months of income and expenses for a property. Lenders use it to calculate Net Operating Income (NOI) and determine loan amounts. Bhumi provides forensic T-12 audits that reconcile every line item to bank statements.

How long does a T-12 audit take?

Bhumi delivers a complete, lender-ready T-12 package within 48 hours of receiving your documents. Full forensic reconstruction typically takes 1-2 weeks. Deal closing support runs approximately 30 days.

What size multifamily portfolios does Bhumi work with?

Bhumi specializes in $500K to $5M multifamily portfolios with 5-50 units. This is the sweet spot where institutional lenders require documentation but owners often lack institutional-grade bookkeeping - too complex for most accountants, too small for institutional advisors.

What documents do I need to start a T-12 audit?

To start, Bhumi needs three things: 12 months of bank statements for all accounts touching the property, a current rent roll showing units, tenants, and rent amounts, and your most recent tax return or Schedule E for the property.

How much does a T-12 audit cost?

Bhumi charges a flat fee based on portfolio complexity - number of units, bank accounts, and document condition. No hourly billing surprises. Contact for a specific quote based on your situation.

What lenders does Bhumi work with?

Bhumi is lender-agnostic and has prepared packages for Freddie Mac Small Balance Loans, Fannie Mae Small Loans, regional banks, credit unions, and private lenders. The documentation standards are tailored to each lender's requirements.

What is NOI variance and why does it matter?

NOI variance is the gap between what your T-12 operating statement shows and what your bank deposits prove. Lenders require zero variance for loan approval. Bhumi's forensic reconciliation traces every dollar of revenue to a specific bank deposit, eliminating phantom income and protecting your loan amount.

Can Bhumi help with inherited real estate portfolios?

Yes. Bhumi specializes in inherited portfolios where the previous generation ran operations manually. We've handled portfolios with Venmo payments, cash deposits with no paper trail, commingled personal and business expenses, and decades of accumulated documentation gaps.

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Privacy Policy

Last Updated: January 10, 2026

1. Introduction

Bhumi LLC ("Bhumi," "we," "us," or "our") is committed to protecting your privacy. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you use our document preparation and T-12 audit services (the "Services") or visit our website at bhumi.build.

By using our Services, you consent to the data practices described in this Privacy Policy. If you do not agree with these practices, please do not use our Services.

2. Information We Collect

2.1 Information You Provide

We collect information that you voluntarily provide to us, including:

Contact Information: Name, email address, phone number, business name, and mailing address
Business Information: Company name, title, role, and business relationship to the property
Financial Documents: T-12 operating statements, bank statements, rent rolls, lease agreements, tax returns, and other documents you submit for our Services
Property Information: Property addresses, unit counts, tenant information, income and expense data
Payment Information: Billing address and payment method details (processed through secure third-party payment processors)
Communications: Emails, messages, and other communications with us

2.2 Information Collected Automatically

When you access our website, we may automatically collect:

Device Information: IP address, browser type, operating system, and device identifiers
Usage Data: Pages visited, time spent on pages, links clicked, and referring URLs
Cookies and Similar Technologies: We use cookies and similar tracking technologies to enhance your experience

3. How We Use Your Information

We use the information we collect to:

Provide, maintain, and improve our Services
Process and complete transactions
Prepare T-12 statements, reconciliation reports, and other deliverables
Communicate with you about our Services, including responding to inquiries and providing support
Send administrative information, such as updates to our terms and policies
Analyze usage patterns to improve our website and Services
Protect against fraud and unauthorized access
Comply with legal obligations

We do not use your data to train AI models. Your Customer Data is used solely to provide the Services you have requested.

4. How We Share Your Information

We may share your information in the following circumstances:

4.1 Service Providers

We engage third-party service providers to perform functions on our behalf, including:

Cloud hosting and data storage (e.g., Amazon Web Services, Google Cloud)
Payment processing (e.g., Stripe)
Email communications
Analytics services (e.g., Google Analytics)

These providers are contractually obligated to protect your information and may only use it to provide services to us.

4.2 Legal Requirements

We may disclose your information if required to do so by law or in response to valid legal process, such as a subpoena, court order, or government request.

4.3 Business Transfers

If Bhumi is involved in a merger, acquisition, or sale of assets, your information may be transferred as part of that transaction. We will notify you of any such change.

4.4 With Your Consent

We may share your information with third parties when you have given us your consent to do so, such as when you request that we share documents with your lender or mortgage broker.

5. Data Retention

We retain your information for as long as necessary to fulfill the purposes for which it was collected, including:

Active Engagements: For the duration of our business relationship
Completed Engagements: For a period of seven (7) years following completion, consistent with business record-keeping practices and potential statute of limitations periods
Financial Documents: Securely deleted or returned to you upon request after engagement completion, subject to legal retention requirements

You may request deletion of your data at any time by contacting us. We will comply with such requests unless we are required to retain the information by law.

6. Data Security

We implement appropriate technical and organizational measures to protect your information against unauthorized access, alteration, disclosure, or destruction. These measures include:

Encryption of data in transit and at rest
Secure access controls and authentication
Regular security assessments
Employee training on data protection

However, no method of transmission over the Internet or electronic storage is 100% secure. While we strive to protect your information, we cannot guarantee absolute security.

For more details, please see our Security page.

7. Your Rights and Choices

You have the following rights regarding your information:

Access: You may request access to the personal information we hold about you
Correction: You may request that we correct inaccurate or incomplete information
Deletion: You may request that we delete your personal information, subject to legal retention requirements
Portability: You may request a copy of your data in a commonly used format
Opt-Out: You may opt out of marketing communications at any time by clicking the unsubscribe link in our emails

To exercise any of these rights, please contact us at [email protected].

8. California Privacy Rights

If you are a California resident, the California Consumer Privacy Act (CCPA) provides you with additional rights regarding your personal information:

Right to Know: You have the right to request information about the categories and specific pieces of personal information we have collected about you
Right to Delete: You have the right to request deletion of your personal information
Right to Non-Discrimination: We will not discriminate against you for exercising your privacy rights

We do not sell personal information. Bhumi does not sell, rent, or trade your personal information to third parties for monetary consideration.

9. Cookies and Tracking Technologies

We use cookies and similar tracking technologies to collect and store information about your interactions with our website. You can control cookies through your browser settings. However, disabling cookies may limit your ability to use certain features of our website.

We use the following types of cookies:

Essential Cookies: Required for the website to function properly
Analytics Cookies: Help us understand how visitors interact with our website
Functional Cookies: Remember your preferences and settings

10. Do Not Track Signals

Some browsers have a "Do Not Track" feature that signals to websites that you do not want your online activity tracked. Our website does not currently respond to Do Not Track signals. However, you can manage your cookie preferences through your browser settings.

11. Third-Party Links

Our website may contain links to third-party websites. We are not responsible for the privacy practices of these websites. We encourage you to review the privacy policies of any third-party sites you visit.

12. Children's Privacy

Our Services are not directed to individuals under the age of 18. We do not knowingly collect personal information from children. If we become aware that we have collected personal information from a child, we will take steps to delete such information.

13. Changes to This Privacy Policy

We may update this Privacy Policy from time to time. We will notify you of any material changes by posting the new Privacy Policy on our website and updating the "Last Updated" date. Your continued use of the Services after such changes constitutes your acceptance of the revised Privacy Policy.

14. Contact Us

If you have questions or concerns about this Privacy Policy or our data practices, please contact us at:

Bhumi LLC
3924 Winterset Lane
West Bloomfield, MI 48323
Email: [email protected]