Posted by E.Eka on October 17, 2003 at 16:05:53:
Can you send me a copy too? That would be greatly appreciated.
I am looking for Ed Garcia’s 18 Questions… - Posted by GJN
Posted by GJN on October 17, 2003 at 11:44:52:
I was speaking to Ed Garcia regarding financing ideas for commercial - residential apartment units. Ed suggested that I obtain his ?18 Questions to Ask a Seller? from the CRE site, but I can?t find it.
Does anyone have a copy of the questions or can direct me where I can find them?
Thanks GJN
Re: I am looking for Ed Garcia’s 18 Questions… - Posted by Ed Garcia
Posted by Ed Garcia on October 18, 2003 at 10:30:51:
GJN,
I?m back from San Diego and just saw your post. Here are the questions I was in reference to, and I also have a modified version for commercial other then apartments.
We need more information before we can go any further with your deal.
(1) Describe The Units and the surrounding area?
(2) How old are the units?
(3) What’s the unit mix ( how many 1 br. 2 br etc)
(4) What’s the vacancy factor in the area?
(5) What is the gross income of the units?
(6) What is the vacancy of the units?
(7) What is the NOI?
(8) What are market rents in the area?
(9) Are there any other Units in the area for sale?
(10) If so at what Price?
(11) What are the going Cap rates in the area on multiple units?
(12) Have any other Units in the area recently sold?
(13) If so at what price?
(14) How much does the seller owe on the units?
(15) If there is a loan, is it assumable?
(16) Will the seller carry a second?
(17) Is there any differed maintenance?
(18) If so, estimated cost of maintenance?
(19) How’s your credit?
If you answer these questions, then I can answer yours, with a meaningful answer.
Otherwise, it’s just, What ifs? or hypothetical.
I hope this helps you,
Ed Garcia