As a general contractor that’s looking at getting into real estate investing. I would like to say great video! I would just like to point out one thing that I noticed. When you speak about asbestos surveys, it’s important to note that although there were laws passed in the 70s banning asbestos in construction materials. In the 90s that decision was struck down by the Supreme Court. So you should do asbestos surveys on every commercial property if you plan on renovating it or demolishing it. It should also be noted that it is required by DEP for asbestos surveys to be done on all commercial properties prior to renovations or demolitions. Anyone who tells you otherwise, is lying to you. I hate seeing investors and other people that I’ve worked with be blindsided by this. Because for an investor, it could completely ruin a deal and we’re all here to make money.
I am a buyer's agent on a new investment deal. I usually sell residential, I have a lot to learn. Ready to enroll and get the most out of your videos. Thank you.
Just a slight clarification. A Phase I ESA is more than just a desktop review as the standard and All Appropriate Inquiry requires an on-site walk through of each building and across the entire Subject Property. While it is non-destructive (no sampling or groundbreaking) it is very critical to visit the property.
You are sharing so much resources and knowledge on commercial real estate aspects on TH-cam. I thank from my bottom of heart ❤️ .The more you give the more you get from universe😀 keep giving more and more !!!
Could I give you a recommendation? I think you should zoom out the camera a bit to show your body language. I feel like you could keep people's attention for longer. But man, I love these videos. There's no one else on TH-cam making as thorough and specific CRE videos as you are. Keep up the good work
Hey Justin, after doing a property condition report on a shopping center, is it normal to ask seller for credits if roof and HVAC systems have less than 3 years of life left?
Doesn’t due diligence begin after a contract of sale is executed between buyer and seller and completed before closing? In your video, you said that due diligence is performed “before you put the property under contract.” (0:57) It sounds like you’re saying that due diligence is completed before a contract of sale is executed. Would you mind clarifying what you mean. Thanks.
No when we underwrite as an acquisition analyst we have to do due diligence on the market, the lot, zoning, future projects in the area that will affect the property we are acquiring. All this must be done prior to sending it up to the director to purchase. Yes it can be done during due diligence period But getting it done prior makes the acquisition process a lot smoother.
Hi Justin. I have found an older building (2 floors) with residential (2 units upstairs) and two commercial units downstairs. My ground level unit is rent ready as I plan to put my barbershop in there. But the building had dead Bugs laying around and just really old and dirty building. So I asked my lawyer to give me a month’s time after the start of the lease contract to begin the commencement of base rent payments and he declined. My question to you or my concern is that if I sign the contract and the city does not deem this property suitable for occupation (certificate of occupancy) I will lose out. The landlord also said that in the case that happens, to just give him 3 months of base rent and the issue is handled. What can I do to make sure I will 100 percent have this building suitable to occupy my barbershop in before signing the contract? For instance, do I ffill out an occupancy application and have the city come in and inspect the premises and depending on what they say, let’s say I do all of the requirements, and once I get the occupancy permit, then will I be safe in signing the contract. Also what other things could you suggest I do? Thanks Justin.
![What a Real Estate Acquisitions Analyst Does [The Underwriting Process]](http://i.ytimg.com/vi/UcMYCHyrWko/mqdefault.jpg)
![What a Real Estate Acquisitions Analyst Does [The Underwriting Process]](/img/tr.png)
Good information on CRE due diligence-thank you for taking the time...
This guy is so inclusive these methods are universal across the world !!
As a general contractor that’s looking at getting into real estate investing. I would like to say great video! I would just like to point out one thing that I noticed. When you speak about asbestos surveys, it’s important to note that although there were laws passed in the 70s banning asbestos in construction materials. In the 90s that decision was struck down by the Supreme Court. So you should do asbestos surveys on every commercial property if you plan on renovating it or demolishing it. It should also be noted that it is required by DEP for asbestos surveys to be done on all commercial properties prior to renovations or demolitions. Anyone who tells you otherwise, is lying to you. I hate seeing investors and other people that I’ve worked with be blindsided by this. Because for an investor, it could completely ruin a deal and we’re all here to make money.
I am a buyer's agent on a new investment deal. I usually sell residential, I have a lot to learn. Ready to enroll and get the most out of your videos. Thank you.
Just a slight clarification. A Phase I ESA is more than just a desktop review as the standard and All Appropriate Inquiry requires an on-site walk through of each building and across the entire Subject Property. While it is non-destructive (no sampling or groundbreaking) it is very critical to visit the property.
Is the ESA the same as the occupancy permit?
Thank you for this very clear and thorough presentation. Saving it to my playlist to rewatch later👍
Never stop making videos, so dope!
Thanks, Jason! Appreciate you watching!
I couldn't agree more
Quick wrap-up...loved it
Love the pic in the background... have one like that but of Chicago, not sure if it's the same artist and thank you so much for this video by the way.
You are sharing so much resources and knowledge on commercial real estate aspects on TH-cam. I thank from my bottom of heart ❤️ .The more you give the more you get from universe😀 keep giving more and more !!!
Could I give you a recommendation? I think you should zoom out the camera a bit to show your body language. I feel like you could keep people's attention for longer. But man, I love these videos. There's no one else on TH-cam making as thorough and specific CRE videos as you are. Keep up the good work
Very helpful information
Great video. Would love to see a video on entitlements, zoning, and permitting as it relates to development deals. Appreciate your content!
Great feedback - thanks!
Hey Justin, after doing a property condition report on a shopping center, is it normal to ask seller for credits if roof and HVAC systems have less than 3 years of life left?
Thank you your voice is really good for the videos by the way
Loved the video. Do you have a course in Hotel due diligence?
Hey Nate, great to hear you liked the video! Unfortunately I don't have a course on hotel DD at the moment.
Doesn’t due diligence begin after a contract of sale is executed between buyer and seller and completed before closing? In your video, you said that due diligence is performed “before you put the property under contract.” (0:57) It sounds like you’re saying that due diligence is completed before a contract of sale is executed. Would you mind clarifying what you mean. Thanks.
you're correct, he probably misspoke
No when we underwrite as an acquisition analyst we have to do due diligence on the market, the lot, zoning, future projects in the area that will affect the property we are acquiring. All this must be done prior to sending it up to the director to purchase. Yes it can be done during due diligence period But getting it done prior makes the acquisition process a lot smoother.
Hey! Liked and Subbed for more of that great real estate content. I love seeing those great little nuggets.
Do you your paid courses qualify for continuing education in any states?
Hi Justin. I have found an older building (2 floors) with residential (2 units upstairs) and two commercial units downstairs. My ground level unit is rent ready as I plan to put my barbershop in there. But the building had dead Bugs laying around and just really old and dirty building. So I asked my lawyer to give me a month’s time after the start of the lease contract to begin the commencement of base rent payments and he declined. My question to you or my concern is that if I sign the contract and the city does not deem this property suitable for occupation (certificate of occupancy) I will lose out. The landlord also said that in the case that happens, to just give him 3 months of base rent and the issue is handled. What can I do to make sure I will 100 percent have this building suitable to occupy my barbershop in before signing the contract? For instance, do I ffill out an occupancy application and have the city come in and inspect the premises and depending on what they say, let’s say I do all of the requirements, and once I get the occupancy permit, then will I be safe in signing the contract.
Also what other things could you suggest I do? Thanks Justin.
I do enjoy the content you present
A+ thanks much!!
Thanks for watching!
Do you put due diligence money down on commercial property?
Are you from Akron ohio?
A+