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Creative Capital


Nov 16, 2021

This No-Limit Minute Segment is Part 4 of a multi-part series about buying your first multifamily deal. I am going to take you through the step-by-step process of acquiring your first multifamily deal and share all the things you need to know before starting your journey. In this episode, I am going to talk about digital due diligence. I will walk you through what you need to do for the digital due diligence, from the documents you have to review to the arrangements you have to make with the lender and seller. I will also talk about the importance of working with CPAs, lawyers, and other experts, as well as the significance of a cost segregation study. Listen in!

 

[00:01 - 25:15] Digital Due Diligence

 

  • Thoroughly review all the documents provided by the seller
  • Check utility bills
  • Obtain digital copies of the leases
  • Review previous years’ T12s
  • Get quotes for CapEx items
  • On surveys
  • Cost segregation study
  • Arrange lender inspections and appraisal
  • Ask for lender-required repairs
  • Receive the title, commitment, and docs from the title company
  • Finalize your underwriting, sources, and uses

Key Quotes: 

 

“Looking at the T12, there's a wide array of different things you want to look at, and making sure that you actually pay attention to all the different variances, if there are any, that's going to be massive to the decision of whether or not to actually move forward with this deal or not.” - Josh Ferrari

You can reach and connect with me on Facebook, LinkedIn, Instagram, and Youtube 

 

You can also email me at Joshferrari901@gmail.com 

For more information about Ferrari Capital visit us on our website https://www.ferraricapital.com

 

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