Apartment Investment Due Diligence – Learn the specific activities to be successful during due diligence.
If you want to learn about multifamily and apartment investment due diligence, join us on Thursday February 18th in Newport Beach
If you are interested in getting a multi-family property or apartment investment this event will teach you how to conduct due-diligence on your next deal whether it’s a small duplex, tri-plex, quad-plex or 100+ unit apartment complex. You’ll have the confidence to move forward with your purchase and do proper due diligence, plus learn how to renegotiate if it’s necessary. If you are looking to get into a multi-family deal, you will not want to miss this great learning opportunity.
Omar Ruiz is an experienced commercial apartment investor and has been in real estate since 2006. He owns his own property management company and has helped and consulted other investors and partners with their properties here in California and out of state. Omar owns properties in California and Texas and specializes in identifying emerging markets by researching job growth around the country. He’s written on the subject of performing due-diligence on multi-family properties and has spoken on the subjects of market cycles, property management; how to analyze multi-family properties and working with the section-8 housing assistance program.
He will be talking about his recent experience on a 77 unit apartment community and how it differs from the other properties in California and texas. He will talk in detail about his surprise discovery regarding the utility expenses, that the seller was not aware of and other important elements to look out for. He will also be going over similar valued deals he did in California and Texas and comparing them. He will also talk about the 170 unit in Houston, Texas that he passed-on after completing his due-diligence and explain what he discovered that caused him to back out on it. He will explain the specific activities he does during the due-diligence period and how he’s been successful in negotiating repair credits with sellers and receive cash at closing. He will reference items from his article and relate them to these specific property examples.
The following topics will be discussed
- When does due diligence start for multifamily and apartment investment
- What is a Momentum deal vs. a Reposition deal and the challenges in analyzing reposition deals
- Reviewing the rent income documentation and leases
- Reviewing laundry, vending and other income
- Disecting the expenses and where most out of state investors commit errors
- Finding and selecting property managers on small and big properties
- Performing interior inspections and how to properly document findings
- Putting together a repair credit request document
- Setting up escrow so the lender doesn´t keep your repair credit
- How to work with lenders and communicating with them
- How to deal with inventory at the property such as appliances and supplies
- Closing the deal and transitioning the ownership and utilities
- The importance of funding reserves
This presentation will be done only once this year. Attendees will receive the same customized due diligence checklist Omar uses on his deals.
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