The purpose in our full due diligence services is to conduct a thorough investigation of a multifamily property in the pre-purchase stage and to create a feasibility study for the buyer that reports what specific financial obligations, resources, and capital improvements will be necessary for the property to be operational based on the buyer's investment goals. The study will report any obstacles that investors may face and suggestions for best overcoming said hindrances.
If Rock Residential will be retained as the management company after purchase, a proposed management and marketing plan as well as a 24- month proposed budget will also be included at no additional cost.
Due Diligence Services
Physical Site Visit- An in-person site visit in which every aspect of the physical asset is examined. All units, each common area and amenity, the entire grounds and exterior of the property, and maintenance shops are walked and thoroughly examined for ADA compliance, capital improvements needed, risk reduction, and current condition. Problems that may cause potential financial hardships or deter quality renters will be carefully notated.
Legal- Finally, the property will be evaluated for potential legal issues that might arise such as liens, delinquent taxes, code violations, zoning or re-zoning issues, special assessments or increases in taxes that may come up, clouded titles, restrictive covenants that stay with the property, ordinances that may govern the property's location, etc. We can also review the Phase 1 Environmental report and any other third-party inspections.
Contact us today, so we may get started for you!
Due diligence consulting consists of 3 phases:
Transforming Properties. Enhancing lives
Preliminary & Financial- This is the phase where we request financial and other vital documents from the seller, analyze the information, and report it back to the buyer. 80% of deals fall apart during the preliminary and financial phase. This phase is conducted remotely from our corporate office, therefore saving our clients the most amount of money.
Multifamily | SFH | Consulting