Results for ‘Due Diligence’ category

Remember to do this before inspecting a property

Our agents have got pretty busy helping people buy apartment buildings, so I have been spending more time than usual advising on deals. One of the issues that keeps popping up is around inspections. As a buyer, it is imperative you personally inspect each and every unit in any building you intend to purchase. After

What you could learn from a wild-catter

Recently, I’ve found myself repeating the same piece of advice over and over, so I’m going to share it here. The context is as follows: Someone comes to me for help in optimizing her real estate business. He wants to figure out how to generate more revenue per deal or how to do more deals in

Welcome to the week of short posts

We got a deal that I think I really like over the weekend. However, the diligence period is only three days. There’s an unbelievable amount to cover in these three days: Physical inspections Reviewing leases, estoppels, rent roll, etc. Reviewing the permit records Compiling a construction budget for the rehab Confirming our pro forma rents

How we forecast the rents

One of our key advantages in this business is our ability to accurately forecast rents for renovated units. We’ve previously discussed the importance of this skill: It’s understanding the rents that allows you to properly underwrite deals. We are able to do such accurate forecasting because we are constantly leasing renovated units in the neighborhoods

Introduction to Phase 1 environmental reports

Some of the money we’re deploying on behalf of an investor right now comes out of a 1031 exchange. For those who don’t know, a 1031 is a way to avoid paying capital gains on sale of an investment property by immediately purchasing another property with your sale proceeds. Arranging a 1031 exchange requires the help

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