📋 Multifamily Buying Checklist
Plan, diligence, finance, and close your multifamily purchase. Items auto-save locally; you can also save/load to a PropCheck Deal in Google Drive.
🗂️ Phase 1: Pre-Acquisition Planning — goals, structure, borrowing capacity
Cash flow, appreciation, value-add, tax, hold period, exit strategy.
Personal, corp, LP/JV, roles and equity split, shareholder/JV agreement.
Pre-approval, proof of funds, down payment source, DSCR comfort range.
Markets, unit count/mix, zoning, condition, cap/cash-on-cash targets.
📍 Phase 2: Market Research & Deal Sourcing — demand, vacancy, taxes, leads
Vacancy, rent trends, employment drivers, schools, transit, regulations.
MLS/Realtor, LoopNet, brokers, wholesalers, PMs, off-market outreach.
Cap rates, $/door, $/sf, market rent by unit type, concessions.
📊 Phase 3: Property Analysis — rent roll, T12, NOI, cap rate
Rent roll, T12, utility bills, insurance, tax statements.
NOI, cap rate, DSCR, break-even occupancy, cash flow & CoC.
Unit turns, exteriors, systems, safety, lease-up assumptions, contingency.
Structure, roof, windows, plumbing/electrical, parking, amenities.
✍️ Phase 4: Offer & Contract — terms, conditions, timelines
Price, deposits, conditions (financing, inspection), closing date.
Inspection window, document delivery, lender appraisal, re-trades.
🏁 Phase 5: Closing & Handover — funds, legal, possession
Final approval, insurance binder, lawyer trust, lender holdbacks.
Keys, meter reads, tenant notices, PM onboarding, reserves.