Due-Diligence of 40+ complexes

[Denis Clijsters]

Hi Everyone,

We're in the process of a 44-plex deal, however we have time as neither the seller nor the investors are drumming. I want to make sure all steps of the Due-Diligence are performed well with all experience and as part of this I'd like to learn more about a due diligence process of a bigger building.

Is Anyone in the SF Bay Area / Utah or Southern Idaho Area in such a deal and would like to have free help / help a newcomer to the market or does anyone has good advice to guide me in this, I'd highly appreciate.

My main weakness at this point is checking the structural condition of a building beyond checklist items which can be found all over the internet or in Real Estate books, a good trained eye in other words, who can quickly point to physical marks on the building (concrete, what to look for decent electricity/plumbing, roof, ...)

Thanks a lot,

[Brian Adams]

@Denis Clijsters, congrats on the 44 unit deal.

I buy 100 to 400 unit deals. 

In my opinion, it is imperative that you don't DIY this. You MUST pay for or the lender will require a PCA (property condition assessment).

There is to much financial risk for you to cut corners. There will be a fee to pay, but a certified engineer/inspector will save you lots of money in the long run.