Creative Capital Podcast 115: Buying Your First Multifamily Deal: Part 4

<p><span style="font-weight: 400;">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!</span></p> <p><span style="font-weight: 400;"> </span></p> <p><br /> <br /></p> <p><strong>[00:01 - 25:15] Digital Due Diligence</strong></p> <p> </p> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Thoroughly review all the documents provided by the seller</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Check utility bills</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Obtain digital copies of the leases</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Review previous years’ T12s</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Get quotes for CapEx items</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">On surveys</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Cost segregation study</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Arrange lender inspections and appraisal</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Ask for lender-required repairs</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Receive the title, c