Multi Family Underwriting Checklist

[Chukwudi Motanya]

Hi all,

I am trying to get the reps with understanding the End to End process of acquiring a multi family unit and I wanted to see if anyone by chance had a checklist of steps that they follow when they are looking at opportunity in this space? So far the below is what I have gathered:

1. Collect the rent roll of the unit and then T-12 financials of the property. Operating Statements for the past 3 years minimum https://www.biggerpockets.com/topics#

2. Site Inspection of every unit with a photographer who will photograph every inch of each apartment. The Photographs will be used to develop the unit upgrades / repairs / improvement budget

• At what point in the process can I conduct this?

3. Need to get a Capital Needs Assessment / Property Condition Report

4. Phase 1 Environmental Site Assessment

5. Obtain estoppels and copies of each apartment lease

6. Get a preliminary title report to confirm any existing liens on the property

Is there anything else I should add?

[Greg Dickerson]

On site building and unit inspections will not be performed until you are under contract.