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CGabhart

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Reply with quote  #1 

All proceeds will be donated to The Real Estate Society of San Diego State University.

This is an hour class with emphasis on Multi-Family Due Diligence on Wednesday, May 31, 2017 from 1:00 PM to 2:00 PM at Keller Williams Carmel Valley Del Mar, 12780 High Bluff Drive, Suite 130, San Diego, CA 92130.

Topics covered:

  • What are the things to look at
  • What documents you need to request from the seller
  • What are the common pitfalls   

This is an ideal class for residential agents, new commercial agents, investors and buyers new to real estate. 

NEVER ever rely on the seller to give you accurate numbers. Do your own research that way you only have yourself to pat on the back!!! 

Registration is $15. CRASD and KW Carmel Valley Agents get $5 off. All proceeds will be donated to The Real Estate Society of San Diego State University.

Seats are limited! RSVP in advance to reserve your spot!

Register here: https://www.eventbrite.com/e/due-diligence-for-commercial-properties-tickets-34322966918

________________________________________

The presentation will be put on by Curtis Gabhart, CCIM.

Curtis Gabhart has been a successful Real Estate professional for more than a decade. He has a Certified Commercial Investment Member (CCIM) designation from the CCIM Institute. He is a Director at Keller Williams Commercial Brokerage and President of Gabhart Investments, Inc, a privately held real estate investment firm that manages a syndication of private investors, specializing in acquiring and renovating single and multi-family properties. He also serves on the Commercial Advisory Board at the University of San Diego Burnham-Moores Center for Real Estate and he teaches commercial real estate courses for the California Association of REALTORS┬« and San Diego Association of REALTORS┬«. He has been recognized by members of Congress, California State Senators, the City of San Diego, and had a day named after him in the County of San Diego for his community service and dedication to the community. He was awarded as the Dealmaker of the Year for 2015 in Retail and Multi-Family category.


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Curtis Gabhart, CCIM
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CGabhart

Senior Member
Registered:
Posts: 2,115
Reply with quote  #2 
Here are some things we will be covering, please stop by to add anything I may have forgotten or so I can answer any questions you may have.

Multi-Family Due Diligence Request List

 

Here is a list to use that should help you with your due diligence when buying apartment buildings. Below are some of the things to request from the seller of a multifamily property.

I decided to post this list because of a comment I received on a previous posting. I did named data collection and income & expense analysis of apartment buildings (click here to read that post).

Here is an excerpt from his comment

Remember that the SELLER always LIES so NEVER ever rely on the seller to give you accurate numbers. Do your own research that way you only have your self to pat on the back!!!

Below is a list of items I use (in San Diego) that you will want to request from the apartment buildings seller and/or broker listing the property.

 

Due Diligence Request List

1. Annual profit and loss statements (P&Ls) past 3 years; one year of monthly P&Ls

2. Rent roll and leases including term, deposit, and payment history, Section-8 housing documents, if any

3. Tax returns (last 2 years)

4. Receipts of utility bills (water, gas, trash, sewer, electric, etc for last 12 months) or recap report from provider showing usage and cost

5. Any service or advertising contracts: (Trash, extermination, maintenance, management, commission agreements, union agreements, vending, billboard, pay telephone, etc. and any instrument or contract to be assumed by Purchaser)

6. Copies of all appraisals, engineering reports, termite reports, environmental reports

7. Insurance claims history for last 5 years (can be obtained from insurance agent)

8. List and receipts of any major repairs done in the last 5 years (paint, fence, remodel, roof, water heater, etc)

9. Insurance policy including all riders, risk assessments, and disclosure affidavit for carrier

10. Architectural and engineering plans and specifications (if available)

Click Here for rest of items

Curtis


__________________
Curtis Gabhart, CCIM
Website | Facebook |Linkedin | Twitter | Meetup
Loopent Profile
Click 
here to view our Available Listings.

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